Early Life and Education
Mikhail Fridman was born on April 21, 1964, in Lviv, Ukrainian SSR, USSR. He graduated from high school in Lviv in 1980. Fridman attended the Moscow Institute of Steel and Alloys, where he earned a degree in metallurgical engineering in 1986. He started his career as a metallurgical design engineer at the Elektrostal Metallurgical Works from 1986 to 1988.
Rise to Success
Fridman's entrepreneurial journey began with various ventures, including a window-washing business and an apartment rental agency. In 1988, he co-founded Alfa-Photo, which imported photography chemicals. The following year, he co-founded Alfa-Eco, a commodities trading firm that moved into the oil and gas sector, and Alfa Capital, an investment firm. These companies formed the basis of the Alfa Group Consortium. In 1991, Fridman co-founded Alfa-Bank, which became one of the largest private banks in Russia. He played a key role in the creation and growth of TNK-BP, a joint venture that was later sold to Rosneft. Fridman co-founded LetterOne (L1) in 2013, an international investment company.
Key Business Strategies
Fridman's success is attributed to his strategic investments across multiple industries, capitalizing on privatization opportunities and focusing on essential sectors such as energy and telecommunications. He is known for building diversified investment portfolios and establishing multiple income sources. Fridman emphasizes adaptability and diversification, seizing opportunities across various sectors to build a resilient and expansive business empire.
Philanthropy
Fridman has been involved in philanthropy through the Russian Jewish Congress (RJC) and co-founded the Genesis Philanthropy Group, which promotes Jewish identity.