$17 Billion fund by Russian Billionaire:
28 June 2007Recently a Russian billionaire Mr. Mikhail Prokhonov, a 42 year old former top executive of Norilsk Nickel has launched a $17 billion private investment fund in Onexim group. From this huge investment, the Onexim group will almost double its current production activities in various fields i.e. energy, mining and nanotechnology projects.
Mr. Mikhail prokhonov is said to be splitting from its current business partner in Norilsk nickel, Mr Vladimir Potanin and will concentrate on various project activities of Onexim group in Russia. He will be the President of the Onexim group and his former colleague at Norlisk Nickel, Mr. Razumov a 32 year young executive will be the new general director of the group.
Mr. Mikhail Prokhorov had 22 percent stake in Norilsk and Polyus Gold, Russian largest gold miners and 50 percent stake in Interros banking and Industrial group and both these stakes has been utilized for creating Onexim group. A keen interest taker in nanotechnology and other modern scientific subjects, Mr. Prokhorov has many ambitious future plans for this group and he expects that the assets of the group will rise to $30 billion in the next five years.
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