Russian billionaire Mikhail Prokhorov
and New Jersey Nets owner will be bringing Snob, his magazine for the ultra-rich
to the U.S. Bloomberg News report
s that Prokhorov plans to start selling the magazine in the U.S. without an English translation for $8. Prokhorov told Bloomberg News that he's looking for a little synergy between the two projects hopping to turn Snob fans into Nets fans and vice versa. Prokhorov, who has a fortune of $13.4 billion, according to Forbes magazine, has big plans for the team. He bought 80 percent of the Nets and 45 percent of Barclays Center in Brooklyn, New York for $200 million and funding commitments this year. The arena is part of a $4.9 billion complex in Brooklyn that is in an area with around 330,000 immigrants from the former Soviet Union. Prokhorov wants to find a global audience for both the Nets and for his magazine.
The Wall Street Journal says
that the magazine is launching in New York Wednesday with an initial run of about 20,000 copies. It will also be sold in Chicago, Boston and San Francisco. In Russian the title is an acronym of the Russian words for accomplished, independent, educated and thriving but the connotations are not so favorable in the U.S.