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Latest Mikhail Prokhorov Stories

2009-09-23 13:20:00

CLEVELAND, BROOKLYN, N.Y. and MOSCOW, Sept. 23 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. (NYSE: FCEA and FCEB) today announced that its New York-based subsidiary, Forest City Ratner Companies, Inc. ("FCRC") and Nets Sports and Entertainment ("NSE"), have signed a letter of intent with an affiliate of Onexim Group, an international private investment fund, to create a strategic partnership for the development of the Atlantic Yards project, a 22-acre residential and commercial...

2009-05-30 13:30:48

A Russian billionaire is denying a report he intends to build a luxury resort hotel on Turkey's Aegean coast, his spokesman says. A spokesman for metals magnate Mikhail Prokhorov said Saturday there's no truth to a report published in The Milliyet daily newspaper that Prokhorov is readying plans for a seven star Turkey hotel, RIA Novosti reported. It is untrue, the spokesman said. We have no such plans and they have not even been discussed, adding the billionaire and his company, Onexim, do...

2009-05-22 23:04:39

A gold mining community in Siberia has received a financial boost from the richest man in Russia, who has decided to register as a resident. Mikhail Prokorov's action means that his tax payments will go to the local budget of Krasnoyarsk Territory, where the village of Yeruda is located, RIA Novosti reported. No one expects Prokorov, who was previously registered in Moscow, to move to Yeruda, the Russian news agency said. Last year, he spent 500 million euros (almost $700 million) on a...

2009-04-17 09:22:08

The global financial crisis has cost the 100 richest Russians billions of dollars in declining assets in the past year, Forbes magazine said Friday. A year ago, the total wealth of the 100 richest people in the country was tagged at $552 billion, RIA Novosti reported. Currently, their value is pegged at $142 billion. Oleg Deripaska, the head of holding company Basic Element, led the list of Russians whose value has plummeted with a loss of $25.1 billion. Deripaska, worth $28.6 billion a year...

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2009-02-16 12:10:00

A 2009 list of the richest Russians shows that individual wealth has evaporated quickly, with their net worth falling by billions compared to 2008. The wealthiest Russian on Finans' magazine list is Mikhail Prokhorov, the founder of Snob magazine. But, much of his ranking had as much to do with his losing less money from 2008 than some of his colleagues. He lost $7.4 billion last year, The Times of London reported. Still, his $14.1 billion net worth would have kept him off the top 10 a year...

2009-02-01 16:46:00

NEW YORK, Feb. 1 /PRNewswire/ -- Severely weakened by the economic crisis, Russia's top metals producers are embracing a proposal to merge into one massive company. The merger, which is subject to state approval, would make the industry less vulnerable to the rapid shifts in demand that characterize economic downturn. But while the metals giants agree on the basic plan, they differ about how much government support is needed. Alisher Usmanov, CEO of iron ore and steel producer...

2008-08-06 06:00:34

By Andrew E. Kramer The Russian metals tycoon Mikhail Prokhorov announced Tuesday that he would sell a minority stake in the Arctic mining company Norilsk Nickel for $10 billion to his former business partner Vladimir Potanin, possibly ending a drawn-out ownership struggle between several of the richest men in Russia. The two oligarchs agreed last year to divide their holding in Norilsk, an iconic and extraordinarily valuable Russian factory founded by Stalin, whose value soared along...


Word of the Day
endocarp
  • The hard inner (usually woody) layer of the pericarp of some fruits (as peaches or plums or cherries or olives) that contains the seed.
This word comes from the Greek 'endon,' in, within, plus the Greek 'karpos', fruit.
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