Table of Contents
What is Mikhail Prokhorov’s Net Worth?
Mikhail Prokhorov, a prominent Russian-Israeli businessman and former owner of the Brooklyn Nets, has an estimated net worth of $11 billion. Prokhorov’s wealth primarily stems from his successful business ventures in the post-Soviet era, particularly in the metals and mining industries.
He acquired significant stakes in formerly state-owned companies during Russia’s privatization process in the 1990s, most notably Norilsk Nickel, which became the world’s largest producer of nickel and palladium under his leadership. The sale of his stake in Norilsk Nickel in 2008 netted Prokhorov a substantial profit, reportedly around $7.5 billion.
Throughout his career, Prokhorov has diversified his investments across various sectors, including finance, media, technology, and sports. His investment company, Onexim Group, manages a wide portfolio of assets.
One of his most high-profile investments was the purchase and subsequent sale of the Brooklyn Nets NBA team and the Barclays Center arena. Prokhorov acquired the team in 2010 for about $223 million and sold his remaining stake in 2019 for a reported $3.5 billion, generating a significant return on investment.
Here’s the breakdown of Mikhail Prokhorov’s net worth:
Name: | Mikhail Prokhorov |
Net Worth: | $11 Billion |
Date of Birth: | May 3, 1965 |
Profession: | Businessperson, Investor, Politician |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life
Mikhail Prokhorov was born on May 3, 1965, in Moscow, Russia. He grew up in a middle-class family – his father Dmitry worked for the Soviet Sports Committee, while his mother Tamara was a chemical engineer. This relatively privileged upbringing in Soviet society provided Prokhorov with a strong educational foundation. He excelled academically and attended the Moscow Finance Institute, graduating in 1989 with a degree in international economics.
Prokhorov’s early life experiences, including his parents’ professional backgrounds and his own education, laid the groundwork for his future business acumen.
Growing up in the late Soviet era also positioned him to take advantage of the economic opportunities that arose during Russia’s transition to a market economy in the 1990s.
Business Career
Prokhorov’s business career took off in the 1990s during the privatization of state assets following the collapse of the Soviet Union. In 1992, at just 27 years old, he partnered with Vladimir Potanin to run Interros, a holding company they used to acquire Norilsk Nickel in 1995. Through savvy deal-making during this period of economic upheaval, Prokhorov was able to acquire valuable assets at extremely low prices.
As Chairman of Norilsk Nickel from 1996 to 2007, Prokhorov transformed it into the world’s largest producer of nickel and palladium. His most lucrative move came in 2008 when he sold his stake in Norilsk Nickel for around $7.5 billion, just before the global financial crisis hit. This perfectly timed exit provided Prokhorov with an enormous cash reserve that he was able to reinvest strategically in the years that followed, significantly boosting his net worth.
International Investments and Patronage
Prokhorov has diversified his wealth through various international investments and philanthropic endeavors. In Israel, he owns two private hospitals where he has covered medical treatments for friends. He is also involved in cultural patronage, having founded the Cultural Initiatives Foundation in 2004, which is headed by his sister Irina.
In the sports world, Prokhorov made headlines in 2009 when he purchased a majority stake in the New Jersey Nets (now Brooklyn Nets) NBA team and a large stake in the Barclays Center arena. This made him the first non-North American owner of an NBA team.
While he sold his remaining stake in the Nets in 2019, the investment proved highly profitable, with the team’s value increasing significantly under his ownership.
Controversies
Mikhail Prokhorov’s vast wealth has not been without controversy. In January 2007, he was arrested at the French Alpine resort of Courchevel on suspicion of arranging prostitutes for his guests.
Although he was released without charge after three days and later officially cleared, the incident garnered significant media attention and temporarily tarnished his reputation. This controversy led to Prokhorov being pressured to sell his shares in Norilsk Nickel, which ironically resulted in a $7 billion windfall just before the 2008 financial crisis.
Another controversial episode involved Prokhorov’s attempt to purchase the Villa Leopolda on the French Riviera in 2008. He placed a €390 million deposit on the €390 million property but later backed out of the deal. A French court ruled that the villa’s owner could keep the €39 million deposit plus €1 million in interest, costing Prokhorov a significant sum.
Russian Politics
Prokhorov’s foray into Russian politics has been marked by both ambition and skepticism. In May 2011, he announced his intention to join the leadership of the pro-business political party Right Cause.
However, his involvement was short-lived, as he quit the party in September of the same year, citing a dispute with Kremlin strategist Vladislav Surkov.
In 2012, Prokhorov ran as an independent candidate in the Russian presidential election against Vladimir Putin. His campaign positioned him as a “third force” in Russian politics, between Putin’s government and the opposition. However, many critics viewed his candidacy with suspicion, suggesting it was a Kremlin-backed ploy to split the opposition vote and maintain Putin’s grip on power.
Despite these allegations, Prokhorov’s brief political career demonstrated his willingness to engage in the complex and often opaque world of Russian politics, even at the risk of potential financial repercussions.
Lawsuit against Grigory Rodchenkov
In 2018, Prokhorov became embroiled in a high-profile legal battle related to the Russian doping scandal. He provided financial backing for a libel lawsuit filed by three Russian biathletes against Grigory Rodchenkov, the whistleblower who exposed Russia’s state-sponsored doping program.
The lawsuit sought $30 million in damages from Rodchenkov, claiming he had defamed the athletes by including them on a list of those who had taken performance-enhancing drugs during the 2014 Sochi Olympics.
However, this legal action was met with a countersuit from Rodchenkov, who accused Prokhorov of using the lawsuit as a means to uncover Rodchenkov’s location in the U.S. witness protection program.
This legal battle not only highlighted Prokhorov’s continued involvement in Russian sports but also raised questions about his motivations and potential connections to broader Russian interests. The ongoing lawsuit and countersuit have added another layer of complexity to Prokhorov’s public image and his relationship with both Russian and international sports organizations.
Personal Life
Mikhail Prokhorov has never married, which has been a subject of interest in Russian media. According to Olga Romanova, an opposition activist who knew Prokhorov in college, his commitment to his family, particularly his sister Irina and her daughter, may explain why he has remained single.
Prokhorov has joked about his bachelor status, once pledging to get married if the Brooklyn Nets didn’t win a championship within five years of his ownership – a promise he didn’t have to keep.
Prokhorov is known for his love of sports and extreme activities, including heli-skiing. He once famously told “60 Minutes” that he didn’t know where he had left his $50 million, 200-foot yacht, highlighting his vast resources. Despite his extravagant wealth, Prokhorov maintains a calm demeanor, describing himself as a “boa constrictor” due to his “calm, good mood” – a trait he attributes to his mother.
Prokhorov is also involved in cultural patronage through his Cultural Initiatives Foundation, which is headed by his sister Irina. This foundation supports various cultural and educational projects in Russia.
Awards
Throughout his career, Mikhail Prokhorov has received several notable awards and recognitions:
- Legion of Honor: In 2011, Prokhorov was awarded France’s highest honor, the Legion of Honor. This award came four years after a controversial incident in which he was briefly detained in France on suspicion of involvement in a prostitution ring – charges that were later dropped and for which French officials apologized.
- Order of Friendship: In 2006, Prokhorov was awarded the Order of Friendship by the Russian government for his contribution to Russia’s economic growth.
- Historia Nova Prize: While not a personal award for Prokhorov, the Mikhail Prokhorov Foundation sponsors the Historia Nova Prize for the Best Book on Russian Intellectual and Cultural History. This award highlights Prokhorov’s commitment to supporting Russian culture and scholarship.
These awards and recognitions not only reflect Prokhorov’s business acumen but also his influence in international relations and cultural spheres.

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.