mikhail prokhorov

Russia's New Richest Man

Filed under: Wealth

The world financial turmoil has led to be a bit of reshuffling in the list of Russia's richest men. The list from Russian financial magazine Finans reveals that Oleg Deripaska, once in the top slot, has fallen to eighth place (he's now worth $4.9 billion) after losing $35 billion and Mikhail Prokhorov now owns that title. Prokhorov was worth $14.1 billion at the end of last year, $200 million more Roman Abramovich, who despite his losses, has held on to the number two slot. The entire list has been cut in half, from 101 to 49.

Prokhorov first hit our radar last year when he announced that he was creating a magazine for the rich titled simply Snob. As Businessweek reports, the 43-year-old businessman was formerly major shareholder of Norilsk Nickel, Russia's biggest mining company, but he sold his 25% stake last April for $8 billion which meant that he had cash in hand when the financial crisis hit. Last summer, both Abramovich and Prokhorov were separately rumored to have picked up Villa Leopolda in Villefranche-sur-Mer on the French Riviera for $750 million but neither one did which is looking like a smart move in these turbulent times (or if he did buy it, he certainly wants out now).

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Tags: billionaires, meet the billionaires, MeetTheBillionaires, mikhail prokhorov, MikhailProkhorov, russia

Russian Billionaire Debuts His Magazine for Snobs

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Back in April we reported that Russian billionaire Mikhail Prokhorov (right) was planning to spend $150 million launching a new magazine for snobs. Now the first issue of Snob is about to go on sale with a cover price of $18, but it isn't just a gaudy homage to the oligarch lifestyle as lived by Luxist mascot Roman Abramovich and his compatriots.

"A close look at both the target audience and the contents of Snob show that it doesn't promote the free-spending, bling-drenched stereotype made famous across the world by rich Russians in recent years," the London Independent notes. "While celebrating personal and financial success, it does so in a rather more restrained and worldly way." Too bad - we were kind of hoping for something a little more over-the-top.

Tags: Magazines, mikhail prokhorov, MikhailProkhorov, Russia, Russian billionaires, RussianBillionaires, Snobs

Prokhorov Says He Didn't Buy Villa Leopolda Either

by Deidre Woollard (RSS feed) —

Filed under: Estates

Now this is just getting ridiculous. First Roman Abramovich was rumored to have bought Villa Leopolda, the pricey estate in Villefranche-sur-Mer on the French Riviera. Then Russian precious metals mogul Mikhail Prokhorov was said to have snapped it up. As my colleague Jared Paul Stern reported over the weekend, Prokhorov is the 24th richest man in the world with a $22 billion fortune and was briefly detained during an investigation into a suspected prostitution ring at a ski resort in the French Alps. Turns out Prokhorov still has some hurt feelings over that bit of police drama says BBC News and according to a spokesman, refuses to do business in France until he gets a proper apology.

We are starting to run out of Russian billionaires to pin this on. Well, that's not entirely true, there is still a long list but hopefully someone will own up to the $750 million purchase pretty soon. You can't keep a secret that big for too long.

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Tags: france, mikhail prokhorov, MikhailProkhorov, villa leopolda, VillaLeopolda

Mystery Buyer of World's Most Expensive House Revealed

by Jared Paul Stern (RSS feed) —

Filed under: Estates

The mysterious billionaire who just bought the world's most expensive house - the $750 million Villa Leopolda (above) on the French Riviera - is none other than controversial Russian precious metals mogul Mikhail Prokhorov, the AFP reports. Luxist readers may remember Prokhorov as the over-the-top tycoon who announced plans in April to spend $150 million launching a magazine for snobs in Russia, called simply Snob. Prokhorov is ranked as the 24th richest man in the world with a $22 billion fortune. Some earlier reports had erroneously identified the villa's buyer as Roman Abramovich. Last year Prokhorov was briefly detained during an investigation into a suspected prostitution ring at the ritzy ski resort he frequents in the French Alps.

Tags: French Riviera, FrenchRiviera, La Leopolda, LaLeopolda, Magazines, Mikhail Prokhorov, MikhailProkhorov, prostitution ring, ProstitutionRing, roman abramovich, RomanAbramovich, Russian billionaires, RussianBillionaires, Snobs, Villa Leopolda, VillaLeopolda