Russian metals magnate's small bet on the internet has paid off big. His Digitial Sky Technologies, run by new billionaire Yuri Milner, made early investments in Facebook, Zynga and Groupon. A spinoff of this group, Mail.ru, which did not include the interests in the U.S. outfits, went public on the London stock exchange in 2010. All these assets are worth at least triple what they were a year ago. Still the bulk of his fortune comes from Metalloinvest, the biggest iron ore producer in Russia, which he owns with business partners Andrey Skoch and Vasily Anisimov. He also owns a big stake in third biggest cell network operator Megafon and the biggest daily business newspaper Kommersant. In August 2018, American billionaire Stan Kroenke will make an offer to acquire all the shares in Arsenal Holdings. Mr Usmanov agreed to tender his 30 per cent stake in a deal that values the club at about £1.8bn. Mr Kroenke already owns about two thirds of the company. Mr Usmanov was shut out of the process of developing strategy at Arsenal and didn’t have a seat on the board.
| Types | Person, Business Person |