Mikhail Prokhorov is a Russian billionaire businessman.
Introduction
He is a Russian billionaire that is now worth over $22 billion.
Prokhorov is the former owner of the Brooklyn Nets. His first entrepreneurial venture was the development of the Moscow Finance Institute, which he founded in 1990. He later went on to become a major industrialist with major stakes in multinational corporations in the precious metals sector.
The Russian billionaire’s net worth increased almost $250 Million since last year.
According to the Forbes billionaires list, Mikhail Prokhorov’s net worth is estimated to be roughly $13.5 Billion.
The billionaire founded L.A. Clippers in 1976, and the team went on to become one of the NBA’s most dominant franchises.
Early Life
Because of his mother’s work as a microbiologist, Prokhorov spent his early childhood in Moscow. He was enrolled in the Moscow State University in 1980, graduating in 1984.
During the Second World War, his father, who was a general, fought the Japanese and his family was deported to Siberia. When his family returned and the war was over, his father was again sent to Siberia. The family was forced to move several times throughout the country, which made it difficult for his father to find work. When the Second World War began, Prokhorov’s family moved again and again to avoid the draft and their eventual fate in the war.
Career
After the Christmas party in Courcheval, the Russian billionaire gained headlines after being detained by French police for four days. Vladimir Prokhorov is still a very popular figure in France.
Vladimir Prokhorov decided to put his $55 million down payment for Villa Leopolda on the Mediterranean Sea in Monaco instead. The purchase was a risky move: it was in an area under Monaco’s jurisdiction, and the French government might refuse to allow the purchase.
Although the move was controversial for fans of Nets teams past, the move was seen as a good change for the Nets’ future. The new arena allowed the team to be used for many concerts, especially since the team’s previous home, Madison Square Garden, was too small.
The new organization will retain the Nets’ NBA franchise, but will be operating as a separate business unit within the Barclays Center. It will have its own executive team, separate from the rest of the Barclays Center, including team president Brett Yormark and general manager Sean Marks. The team’s business offices will also move out of Barclays Center at some point, the team said in a statement.
The Russian billionaire’s net worth increased almost $250 Million since last year.
According to the Forbes billionaires list, Mikhail Prokhorov’s net worth is estimated to be roughly $13.5 Billion.
The billionaire founded L.A. Clippers in 1976, and the team went on to become one of the NBA’s most dominant franchises.
How Does Mikhail Prokhorov Spend His Money?
Mikhail is known for spending a lot of money on his vacations and real house.
Mikhail Prokhorov’s Home
Prokhorov owns a beautiful home in Villefranche-sur-Mer, France. The mansion is worth a lot of money.
Mikhail Prokhorov Vacations
Prokhorov has been seen many times traveling in style in his personal jet and has been seen at a number of fancy sports and resort destinations. The billionaire has used his massive bank account to build a dream life that includes supermodel girlfriends, mansions worldwide, two mega-yachts, an ultra-luxurious private jet, and even a semi-successful political career. The New York Post reported that the party included Prokhorov’s girlfriend, model Helene Lea.
Highlights
He started his business with a borrowed car, and a $1 million loan. Now he has a $4 billion business empire, and he’s worth $10.4 billion.
Favorite Quotes from Mikhail Prokhorov
I didn’t have a lawyer so it became a personal thing. It was a problem that happened to me. It was a personal situation, but I didn’t have a problem with it. The government was trying to create laws for companies, but in Russia, it was a personal thing. I was not going to appeal to the government, because if I did, I would have been in trouble. I never met with government officials – I didn’t appeal. I only contacted the President, but I never appealed to the government.
A while back, I wrote a piece about the reasons people are single and in relationships. I’ve come to learn that most of the problems people face when they aren’t married are related to the fact that they aren’t having kids.
3 Business Lessons from Mikhail Prokhorov
Don’t look at business as a single thing but as a collection of many smaller things that should be worked on one by one.
Be realistic about your goals, it is ok to change your strategy.
Take charge of your business and have a say in all the small things.
Don’t do stupid things (like giving your money away to people who promise to make you rich).
1. Businesses
Big business, even the most successful of them, does nothing to avoid the influence of the political systems in which they operate.
2. Be Smart
Prokhorov learned from his parents that he needs to keep his wits about him to succeed in life.
3. Plan Your Future
You don’t have to always have a plan, but making a backup plan is important.
Summary
Mikhail Prokhorov got his start as the head of Russian Railways. He built a huge fortune and in 2011 he had his first taste of the US market by buying the New Jersey Nets. But after less than three years, he was forced to sell all his shares which brought him to his current cash crunch.
The Russian billionaire’s net worth increased almost $250 Million since last year.
According to the Forbes billionaires list, Mikhail Prokhorov’s net worth is estimated to be roughly $13.5 Billion.
The billionaire founded L.A. Clippers in 1976, and the team went on to become one of the NBA’s most dominant franchises.