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# 276 German Khan $7.85B

Random fact: Attended a shareholders meeting armed with a gun.


Khan is a partner in Alfa Group, an investment company he controls with fellow billionaire Mikhail Fridman. He owns stakes in a Russian food retailer X5, water and sewage company Rosvodokanal as well as in Alfa Strakhovanie insurer. He was sanctioned by the European Union and the UK in 2022 over the conflict in Ukraine.

As of :
Last change -$20.1M ( -0.3%)
YTD change +$279M ( +3.7%)
Biggest asset Cash
Country / Region Russian Federation
Age 61
Industry Diversified
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

German Khan's net worth of $7.85B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

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Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Khan's fortune is derived from his stake in Alfa Group, which has invested in banking and retail through a web of companies based in Gibraltar, the British Virgin Islands and Luxembourg. He created and controls the holding company with two former college classmates, Mikhail Fridman and Alexei Kuzmichev. 

The three partners own the businesses controlled by Alfa Group through Gibraltar-based CTF Holdings.

He sold his share of TNK-BP International, Russia's third-largest oil producer at the time, to state-run oil company Rosneft for $3.3 billion in March 2013. He collected about $2.3 billion in dividends from the venture between 2004 and 2012, according to company filings and an analysis of Bloomberg data. The value of his cash investments is calculated in US dollars and includes these proceeds as well as insider transactions, taxes and market performance.

Khan also holds 14.8% of X5, a Russian food retailer, 31% of Rosvodokanal, a water and sewage company and 20.1% of Alfa Strakhovanie insurer.

He has investment in FreedomPop, a wireless internet mobile service provider.

Khan was sanctioned by the European Union and the UK in 2022 over the escalating conflict in Ukraine.


Family: Married, 4 children

German Khan was born in Kiev in 1961, to a metallurgy professor. In school, he was more interested in boxing and other sports than doing his homework. He worked as a locksmith before enrolling in the Moscow Institute of Steel and Alloys in 1983. That's where he met Alexey Kuzmichev and Mikhail Fridman, his future billionaire partners. They started working together in 1989, first selling electronic goods, carpets and consumer staples -- enterprises that became the basis for Alfa Group, the holding company that today controls many of their investments.

The college friends also created a commodities trading company, Crown Trade and Finance, which moved oil between Europe, the U.S., Australia, Cuba and Iraq. In 2002, an oil tanker chartered by company successor Crown Resources, was denied entry to a Spanish port, broke during a storm and sank off the coast, spewing more than 50,000 tons of heavy fuel oil into the Atlantic Ocean. Alfa subsequently sold Crown.

They landed the TNK deal, Khan's biggest financial success, in 1997. Along with fellow businessmen Viktor Vekselberg and Leonid Blavatnik, the Alfa partners bought a 40 percent interest in the former state-owned oil company with interests in several West Siberian oil fields. Two years later, they also acquired the most productive subsidiary of competitor Sidanco -- then owned in part by BP -- which had been declared bankrupt by a Siberian court. BP's CEO at the time, John Browne, later called the legal system "rigged."

BP had paid almost $7 billion by 2004 for half of TNK, while the other half was consolidated by Fridman and his partners under the holding company Alfa-Access-Renova (AAR). The investment formed TNK-BP, Russia's largest foreign oil investment. TNK-BP then CEO Bob Dudley was forced to leave Russia after a strategy dispute in 2008.

In 2011, AAR sued BP over a separate Arctic development deal it tried to strike with Rosneft. In 2012, BP executives said that the company would sell its stake and Fridman stepped down from his role as CEO. The billionaires sold their half of the venture to Russia's state-owned oil company, Rosneft, for $27.7 billion in March 2013. TNK-BP paid $38 billion in dividends through 2011.

  • 1988 Graduates from Moscow Institute of Steel and Alloys.
  • 1989 Joins Alfa-Eco with Mikhail Fridman and Alexei Kuzmichev.
  • 1991 Partners found Alfa Bank, now Russia's largest non-state bank.
  • 2003 AAR and BP merge Russian assets to form TNK-BP.
  • 2011 Helps fund the $1 million Genesis prize, a "Jewish Nobel prize."
  • 2013 State-owned firm Rosneft buys AAR's TNK-BP stake for $28 billion.
  • 2013 Founds with billionaire partners L1 Energy.
  • 2014 L1 Energy agrees to buy RWE oil unit for $5.8 billion.