Facebook is a social utility that connects people with friends and others who work, study and live around them.
Russian Man Now Worth $20 Billion Thanks To Facebook
Facebook is about to make Mark Zuckerberg a billionaire, but on the other side of the Atlantic a Russian businessman is already worth $20 billion thanks in large part to the social networking giant.
Forbes is reporting that Russian oligarch Alisher Burkhanovich Usmanov is now Russia’s richest man and one of the world’s richest men. Usmanov is heavily invested in Digital Sky Technologies (DST), an investment company founded by fellow Russian billionaire Yuri Milner. According to the Bloomberg, Usmanov’s stake in DST is now about 80% and this has helped to increase his net worth.
DST has a huge portfolio of investment in western companies and this portfolio contains big name brands like Facebook, Groupon, Twitter, Zynga, Spotify, Airbnb, ZocDoc and 360buy.com. A quick look on that list and you’ll realize that most are already public, with Facebook notably set to launch its own IPO very soon.
If Usmanov is worth so much now, one can imagine just how much he’ll be worth once the stock does go public. Surely he’ll be able to add to a cool billion or two to his net worth.
We’ll be keeping an eye on Facebook to see how it fears with its upcoming IPO.