Facebook will make Russia’s richest man even richer

May 10, 2012
One Comment

Alisher Usmanov likes Facebook, but he’ll probably like it even more after the company’s IPO on 18 May.

That’s because Usmanov, who is Russia’s richest man according to Forbes magazine, is set to make a pretty penny when he and his partners sell of a large number of stocks after Facebook goes public, according to Ira Iosebashvili, a blogger for The Wall Street Journal‘s ”Emerging Europe“.

Usmanov and his partners at Mail.ru Group invested $300 million in Facebook in 2009, but they could net up to $2 billion at the IPO.

“Today these investment have shown the highest possible effectiveness, and we are very satisfied,” he said on Russian TV last week, according to Iosebashvili.

About the Author

Joshua Boissevain

Joshua Boissevain is a research associate and editorial assistant at Transitions Online. He's also a freelance journalist and photographer based in Prague. Find him on twitter at @joshboissevain.
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