Early Life and Education
Mikhail Maratovich Fridman was born on April 21, 1964, in Lviv, Ukrainian SSR. He graduated from high school in Lviv in 1980. After being denied entrance to Moscow's top physics college due to his Jewish background, he attended the Moscow Institute of Steel and Alloys, graduating with honors in 1986. During his student years, he engaged in various entrepreneurial activities, including founding a student discothèque and trading tickets for scarce goods.
Rise to Success
Fridman's career began in the late 1980s. In 1988, he co-founded Alfa-Photo, which imported photography chemicals. In 1989, he co-founded Alfa-Eco, a commodities trading firm that expanded into oil and gas. These ventures formed the foundation of the Alfa Group Consortium. In 1991, he co-founded Alfa-Bank, which became one of Russia's largest private banks. In 2003, Fridman, along with partners, formed TNK-BP, a joint venture with BP. He later sold his stake in TNK-BP and co-founded LetterOne (L1) in 2013, an international investment company.
Key Business Strategies
Fridman's business strategy has involved identifying opportunities in post-Soviet Russia, building strong relationships, and making strategic investments in various sectors. His ability to navigate the turbulent market conditions of the 1990s and 2000s, along with his capacity for forming key partnerships, has been crucial to his success.
Philanthropy
Fridman has been involved in various philanthropic initiatives, particularly supporting Jewish causes. He co-founded the Russian Jewish Congress in 1996 and is a major donor to the European Jewish Fund. He also co-founded the Genesis Philanthropy Group in 2007, which promotes Jewish identity among Russian-speaking Jews worldwide. Fridman has stated his intention to leave his entire fortune to charity.