Monday, March 7, 2011

Mikhail Prokhorov- TUC's Man of the Season.

The Upper Cruster salutes billionaire New Jersey Nets owner and Russian beanpole Mikhail Prokhorov. Not only is he reasonably wealthy at age 45, he’s a model (albeit big and tall) of how any good self-made billionaire should be.

The 6'8" Prokhorov joined fellow owner Jay Z and bought the generally unsuccessful team in 2009, investing a $250 million stake in the team and a planned new arena in Brooklyn. Why? We assume it had something to do with being bored of soccer. Enough about sports that actually make you perspire, Prokhorov’s lifestyle is much more interesting.

Prokhorov started building his fortune, currently valued at $13.4 billion, in the 1980’s, owning a company that manufactured stonewashed jeans. From there he made a move to decisively better stones: precious metals. Instead of pelting clothing with nickel, he mined it and soon his company Norilsk Nickel became the world's largest producer of nickel and palladium. But he didn’t stop there. He is also chairman of Russia’s largest gold producer, Polyus Gold, and started a private investment with over $17 billion in assets, ONEXIM Group.

Prokhorov also has a knack for buying out businesses when they’re desperate enough to take low offers, and surviving stock market crashes by selling off assets beforehand, making him enough of a cold-hearted businessman to have a chance of speaking with Stone Chambers.

What good is all the money if you can’t spend it? Prokhorov knows the value of a dollar is best spent on enjoying life. But I know from personal experience- that means being the man everyone loves to hate, especially if you constantly travel with the company of at least 8 models. So of course he was accusing of arranging prostitutes for guests at an innocent Christmas party in 2007, but let off after 4 days. It’s not his fault that so many women want to be around him!

Now people might laugh at the fact that he lost a $53 million deposit when he decided not to purchase the world's most expensive home in the French Riviera (valued at $530 million), or because he owns a $45 million yacht that he rarely uses because it makes him seasick. But come on. Maybe Prokhorov wants to keep $53 million, maybe he doesn’t- it’s up to him. And the yacht? Well I’m sure it looks nice.

Another testament to his proper lifestyle, here’s a video of Prokhorov fooling around on expensive jet skis all day, which he hired a production crew to film. 

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