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What is Mikhail Fridman’s Net Worth?
Mikhail Fridman, a Russian-Israeli businessman and co-founder of Alfa Group, has an estimated net worth of $13 billion. Fridman’s wealth primarily stems from his involvement in various sectors, including oil, banking, and telecommunications. As a key figure in Alfa Group, one of Russia’s largest private investment firms, Fridman has built a diverse portfolio of business interests.
His financial success can be attributed to strategic investments and acquisitions, such as the sale of his stake in TNK-BP in 2013, which reportedly earned him $5.1 billion while also collecting substantial dividends over the years.
The imposition of sanctions by the European Union in 2022, in response to the Russian invasion of Ukraine, has potentially impacted Fridman’s financial standing and business operations. Fridman has challenged these sanctions, claiming they are based on false allegations.
Here’s the breakdown of Mikhail Fridman’s net worth:
Name: | Mikhail Fridman |
Net Worth: | $13 Billion |
Date of Birth: | 21 April 1964 |
Profession: | Politician, Banker, Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Mikhail Maratovich Fridman was born on April 21, 1964, in Lviv, Ukraine, which was then part of the Soviet Union. Despite his exceptional academic performance in high school, Fridman faced discrimination due to his Jewish background and was denied entrance to Moscow’s top physics college.
Instead, he attended the Moscow Institute of Steel and Alloys, where he graduated with distinction in 1986, earning a degree in metallurgical engineering.
During his college years, Fridman displayed an early entrepreneurial spirit. He engaged in various business ventures, including window washing, co-owning a student discothèque named Strawberry Fields, and organizing a group of students to queue for theater tickets, which they would then barter for rare goods and favors.
Career
In 1989, Fridman co-founded the Alfa Group Consortium, which would become one of Russia’s largest privately owned investment groups. His business interests span various sectors, including oil, banking, and telecommunications.
One of Fridman’s most significant business moves was the creation of Alfa-Bank in 1991, which grew to become Russia’s largest private bank. In 2013, Fridman and his partners sold their stake in TNK-BP, netting him $5.1 billion in the process. This deal significantly boosted his net worth.
Sanctions
In 2022, the European Union imposed sanctions on Fridman in response to Russia’s invasion of Ukraine. These sanctions have potentially impacted his financial standing and business operations, although the full extent of their effect on his net worth may not be fully reflected in current estimates.
Fridman has challenged these sanctions, claiming they are based on false allegations. In a significant development, on April 10, 2024, the General Court of the European Union ruled in favor of Fridman and his business partner Petr Aven, removing them from the EU sanctions list.
The court stated that there wasn’t sufficient evidence to prove that the two businessmen supported Russian President Vladimir Putin’s war against Ukraine.
Controversy in Spain
Fridman has faced legal challenges in Spain related to his business practices. In 2019, he appeared in Spain’s top criminal court for questioning over allegations that he artificially depressed the value of a Spanish company, Zed Worldwide, to take it over after it declared bankruptcy.
Spanish prosecutors accused Fridman of market manipulation, fraudulent insolvency, business corruption, and misuse of company assets. They alleged that Fridman, as a lender and shareholder in Zed Worldwide, secretly engineered the company’s bankruptcy so he could buy it back at a price well below its market value.
The case was initially closed in December 2020, but was briefly reopened in February 2021 due to what was later described as a “technical error”. This legal controversy, while not directly impacting his net worth, has posed challenges to Fridman’s business reputation and operations in Europe.
Philanthropy and Initiatives
Mikhail Fridman has been actively involved in various philanthropic endeavors, particularly those focused on Jewish causes. In 1996, he became one of the founders of the Russian Jewish Congress (RJC) and has since been an active member, serving as its vice president and head of its cultural committee. Fridman is also a major donor to the European Jewish Fund, which promotes interfaith dialogue.
In 2007, Fridman co-founded the Genesis Philanthropy Group alongside his business partners. This organization aims to develop and enhance Jewish identity among Russian-speaking Jews worldwide. One of the group’s most notable initiatives is the Genesis Prize, established in 2012 with a $100 million endowment. This annual $1 million award honors individuals who have attained excellence in their professional fields and have shown dedication to Jewish values.
Fridman has also supported other humanitarian causes. For instance, he was one of the major funders of the Holocaust memorial project at Babi Yar in Kyiv, Ukraine, launched in 2016.
Honours and Awards
Throughout his career, Fridman has received several accolades for his business acumen and philanthropic efforts. In 2003, he was honored with the Golden Plate Award from the Academy of Achievement in Washington, presented by former U.S. President Bill Clinton. The same year, he was named one of “The Stars of Europe: 25 Leaders at the forefront of change” by BusinessWeek.
In 2004, Fridman was included in the Financial Times list of 25 business executives named “Leaders of the New Europe”. He also received the Darin prize from the Russian Academy of Business and Entrepreneurship in the Grand Prix category.
Forbes Russia named Fridman Russian Businessman of the Year in both 2012 and 2017. In May 2017, he was ranked as Russia’s most important businessman by bne IntelliNews.
Legal Challenges
Fridman has faced several legal challenges throughout his career, particularly in recent years. In 2019, he appeared in Spain’s top criminal court for questioning over allegations that he artificially depressed the value of a Spanish company, Zed Worldwide, to take it over after it declared bankruptcy.
More recently, Fridman has been embroiled in legal battles related to sanctions imposed on him by the European Union in response to Russia’s invasion of Ukraine.
In April 2024, Fridman and his business partner Petr Aven won a significant legal victory when the European Court of Justice ruled in their favor, removing them from the EU sanctions list for the period between February 2022 and March 2023.
Alleged Arrest in London
In December 2022, Fridman was reportedly detained in London on suspicion of money laundering, conspiracy to defraud the Home Office, and conspiracy to commit perjury. The National Crime Agency (NCA) conducted a raid on his £65 million north London home, removing digital devices and a significant quantity of cash.
However, in September 2023, the NCA announced that it was discontinuing its investigation into Fridman. The agency stated that it would take no further action against him based on the warrant executed at his home in December 2022.
Fridman had claimed that the raid was illegal and relied on “kompromat,” including a 15-year-old report containing unproven criminal allegations.
Personal Life
Mikhail Fridman is divorced and has four children: Lora, Katya, Nika, and Alexander. Fridman has made headlines with his decision to leave his entire fortune to charity rather than to his children.
In a notable example of his approach to parenting, Fridman’s son Alexander revealed in 2020 that he lives in a modest two-bedroom apartment on the outskirts of Moscow, paying $500 a month in rent and commuting to work by metro. Alexander stated, “I eat, I live and I dress with what I have earned myself,” reflecting his father’s desire for his children to make their own way in life.
Fridman primarily resided in London until recent geopolitical events forced changes in his living arrangements. He owns Athlone House, a £65 million mansion in Highgate, north London. Despite his immense wealth, Fridman is known for keeping a relatively low profile in his personal life.

Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.