Mikhail Fridman

Engineer, Billionaire and

Founder of Alfa Group Consortium

 

Mikhail Fridman, steel, alloyed, timber, cement.
Along with Peter Aven, Fridman founded the Alfa Group Consortium, a holding company which today controls the Alfa Bank (opened in 1991), Alfa Capital, Tiumen Oil and several construction material firms (cement, timber, glass) as well as food processing businesses and a supermarket chain. The two are also major holders of tea and sugar plant processors.

The youngest of the newly rich presented here, Fridman was born in 1964. He is a graduate of the Moscow Institute of Steel and Alloys. From 1986 to 1988 he worked as an engineer in the Electrostal factory.

When it became legal to open cooperative and private concerns under Mikhail Gorbachev in 1987, Fridman was well prepared and in 1988 he set up his own photo cooperative, Alpha photo and then ALFA/EKO, and AlfaKapital. This was the precursor of the Alfa Group Consortium.