Mikhail Fridman
Oil, banking, telecom · Moscow
Net worth
$16.8B
Today
−$14M−0.08%Past month
−$43M−0.25%As of Nov 11, 2026, 1:50 PM EST
Mikhail Fridman, cofounder of Alfa Bank, Russia's largest non-state bank, was hit with sanctions after Russia invaded Ukraine. Soon after, Fridman (who also has Israeli citizenship) stepped down from his Luxembourg holding company, LetterOne, and reduced his shareholding. Fridman's properties in London, including the $100 million Victorian-era Athlone House estate, have been frozen by the U.K. A Ukraine native, Fridman and his college buddies German Khan and Alexei Kuzmichev started commodities trader Alfa-Eco in 1989. Thanks to Kremlin connections, Fridman and his partners were able to create a joint venture with British Petroleum, TNK-BP, in 2003. In 2013 he got $5.1 billion in cash when the trio and partners sold their TNK-BP stakes for $14 billion In August 2023, Ukraine opened a criminal case against Fridman related to fraud charges stemming from Alfa Bank Ukraine. In December he was put on the international wanted list.
Net worth over time
Principal holdings
5 positions| Company | Industry | Share | Value |
|---|---|---|---|
Private and other holdings | Energy | 74.3% | $12.5B |
X5 Retail Group (MICEX) | Energy | 11.3% | $1.9B |
VEON Ltd. ADR NASDAQ: VEON | Energy | 6.7% | $1.1B |
Distribuidora Internacional de Alime MADRID: DIA-ES | Energy | 5.8% | $969M |
Turkcell Iletisim Hizmetleri A.S. ISTANBUL: TCELL.E-TR | Energy | 1.9% | $321M |
Also known for
- Fridman filed defamation lawsuits against Buzzfeed and Fusion for reporting that his Alfa Group had a role in Russia's meddling in the U.S. presidential election.
- Fridman lived in Western Ukraine until he was 17. Both of his parents are Ukrainian citizens, who live in Lviv, which he called his "favorite city."
“I do not make political statements, I am a businessman with responsibilities to my many thousands of employees in Russia and Ukraine. I am convinced however that war can never be the answer. This crisis will cost lives and damage two nations.”