Wednesday, February 20, 2008

Vladimir Potanin




Net Worth: $ 5.4 billion

Primary Source: Norilsk Nickel (quote), metals
Age: 43
Marital Status: married, three children

A former Soviet foreign trade official, Potanin teamed up with banker Mikhail Prokhorov in 1992 to take over the assets of two Soviet-era foreign trade banks. Later he won control of metals giant Norilsk Nickel and oil company Sidanco in controversial loans-for-shares auctions. He served as deputy prime minister in charge of the economy in 1996-1997. He then partnered with George Soros to invest in telecom monopoly Svyazinvest, but sold Soros his stake after the two had a falling out. The devaluation of the ruble in 1998 forced the liquidation of his Uneximbank. He sold his oil interests to Mikhail Fridman's Alfa Group. His Interros holding company remains broadly diversified, with interests in metals, insurance, media, agriculture and engineering. Last year he bought the last remaining U.S. platinum and palladium producer, Stillwater Mining, for $255 million. Now paying attention to his social standing, he joined the board of the Guggenheim Museum in 2002.

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