HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » 2009 Facebook bet pays o...

Fri Sep 15, 2017, 01:16 AM

2009 Facebook bet pays off for Russia's richest man.

From 2012:

https://www.reuters.com/article/us-facebook-usmanov/facebook-bet-pays-off-for-russias-usmanov-idUSBRE84G1BM20120517

MOSCOW (Reuters) - Russia’s richest man recognized the value of Facebook Inc three years ago when he invested in the social networking company and now stands to enjoy a payday of around $1 billion, propelling him further ahead of Russia’s oligarchs, who have largely stuck with oil and steel.

Alisher Usmanov, who topped Forbes magazine’s annual list of Russia’s richest investors in April, began his career making plastic bags and built his fortune in metals and mining. He is now worth $18.1 billion, up from $2.6 billion six years ago, according to Forbes.

It is Usmanov’s technology-related bets that have set him apart from his country’s rivals, and 2012 looks set to be a particularly lucrative year. Along with the Facebook stake that values the firm at 10 times what it was worth when he invested three years ago, Usmanov plans to float MegaFon, the $20 billion Russian telecoms firm he took control of last month.

“He has his fingers everywhere,” said one Moscow-based financial source who said he knows Usmanov.

SNIP

0 replies, 913 views

Reply to this thread

Back to top Alert abuse

Reply to this thread