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Fridman
Mikhail Fridman
Rank #174
RUSSIA•Energy•Oil, banking, telecom

Mikhail Fridman

Net Worth
$16.314B
+0.12% (24h)
Mikhail Fridman is a Ukrainian-born, Russian–Israeli businessman and philanthropist known for co-founding Alfa-Group, a multinational Russian conglomerate. His wealth stems from the oil, banking, and telecom industries. Fridman, who holds dual Russian and Israeli citizenship, has a current net worth of $16.5 billion. His career includes founding Alfa-Bank and co-founding LetterOne, an international investment company. Fridman has been involved in several philanthropic endeavors, including the Genesis Philanthropy Group. Despite facing international sanctions, he has remained a prominent figure in the business world, and has publicly expressed his desire to leave his wealth to charity.

How to read Mikhail Fridman's profile

Public net-worth figures are estimates. They combine observable inputs—typically listed equity, disclosed transactions, and market prices—with editorial judgment where filings are incomplete (for example, private holdings, debt, or cross-holdings). For Mikhail Fridman, we anchor the narrative to Oil and Oil, banking, telecom, then update the headline number as markets move. The chart on this page is meant to show trajectory, not a certified balance sheet.

When you see $16.314B alongside global rank #174, interpret it as our best synthesis of widely cited ownership and price signals—not a claim about cash on hand. Estimates can diverge from other publishers because of different treatment of options, trusts, charitable vehicles, or illiquid assets. We document the general approach in methodology and welcome corrections via corrections.

Country (RUSSIA) and career milestones on this page are curated for reader context; they should be verified against primary sources when used for research. Editorial metadata for this profile is refreshed on a rolling basis, with deeper audits at least annually (last noted cycle: 2026).

Looking for depth? When available, the dossier and timeline sections below add long-form context beyond the headline number—prioritize those modules when evaluating claims about strategy, controversies, or philanthropic commitments.

The Full Dossier

Early Life and Education

Mikhail Maratovich Fridman was born on April 21, 1964, in Lviv, Ukrainian SSR. He graduated from high school in Lviv in 1980. After being denied entrance to Moscow's top physics college due to his Jewish background, he attended the Moscow Institute of Steel and Alloys, graduating with honors in 1986. During his student years, he engaged in various entrepreneurial activities, including founding a student discothèque and trading tickets for scarce goods.

Rise to Success

Fridman's career began in the late 1980s. In 1988, he co-founded Alfa-Photo, which imported photography chemicals. In 1989, he co-founded Alfa-Eco, a commodities trading firm that expanded into oil and gas. These ventures formed the foundation of the Alfa Group Consortium. In 1991, he co-founded Alfa-Bank, which became one of Russia's largest private banks. In 2003, Fridman, along with partners, formed TNK-BP, a joint venture with BP. He later sold his stake in TNK-BP and co-founded LetterOne (L1) in 2013, an international investment company.

Key Business Strategies

Fridman's business strategy has involved identifying opportunities in post-Soviet Russia, building strong relationships, and making strategic investments in various sectors. His ability to navigate the turbulent market conditions of the 1990s and 2000s, along with his capacity for forming key partnerships, has been crucial to his success.

Philanthropy

Fridman has been involved in various philanthropic initiatives, particularly supporting Jewish causes. He co-founded the Russian Jewish Congress in 1996 and is a major donor to the European Jewish Fund. He also co-founded the Genesis Philanthropy Group in 2007, which promotes Jewish identity among Russian-speaking Jews worldwide. Fridman has stated his intention to leave his entire fortune to charity.

Career Timeline

2013

Co-founded LetterOne (L1)

International investment company.

2003

Co-founded TNK-BP

A joint venture with BP.

1991

Co-founded Alfa-Bank

Became one of Russia's largest private banks.

1989

Co-founded Alfa-Eco

Commodities trading firm.

1988

Co-founded Alfa-Photo

Imported photography chemicals.

Philanthropic Impact

Jewish Community SupportUnknown

Russian Jewish Congress

Co-founder and active member, supporting Jewish life in Russia.

Interfaith DialogueUnknown

European Jewish Fund

Major donor, promoting inter-religious dialogue.

Jewish Identity and CultureUnknown

Genesis Philanthropy Group

Co-founder, fostering Jewish identity among Russian-speaking Jews.

Key Business Ventures & Holdings

CompanyStakeValue
Alfa Group——

Net Worth History

In-Depth Analysis

Early Life and Education

Mikhail Maratovich Fridman was born on April 21, 1964, in Lviv, Ukrainian SSR. He graduated from high school in Lviv in 1980. After being denied entrance to Moscow's top physics college due to his Jewish background, he attended the Moscow Institute of Steel and Alloys, graduating with honors in 1986. During his student years, he engaged in various entrepreneurial activities, including founding a student discothèque and trading tickets for scarce goods.

Rise to Success

Fridman's career began in the late 1980s. In 1988, he co-founded Alfa-Photo, which imported photography chemicals. In 1989, he co-founded Alfa-Eco, a commodities trading firm that expanded into oil and gas. These ventures formed the foundation of the Alfa Group Consortium. In 1991, he co-founded Alfa-Bank, which became one of Russia's largest private banks. In 2003, Fridman, along with partners, formed TNK-BP, a joint venture with BP. He later sold his stake in TNK-BP and co-founded LetterOne (L1) in 2013, an international investment company.

Key Business Strategies

Fridman's business strategy has involved identifying opportunities in post-Soviet Russia, building strong relationships, and making strategic investments in various sectors. His ability to navigate the turbulent market conditions of the 1990s and 2000s, along with his capacity for forming key partnerships, has been crucial to his success.

Philanthropy

Fridman has been involved in various philanthropic initiatives, particularly supporting Jewish causes. He co-founded the Russian Jewish Congress in 1996 and is a major donor to the European Jewish Fund. He also co-founded the Genesis Philanthropy Group in 2007, which promotes Jewish identity among Russian-speaking Jews worldwide. Fridman has stated his intention to leave his entire fortune to charity.

Data Sources & Methodology

Figures for Mikhail Fridman are synthesized from the sources below and cross-checked against our net worth methodology. Estimates may lag market moves; see corrections to report discrepancies.

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