LetterOne – Mikhail Fridman

Mikhail Fridman (Co-founder of L1)


Mikhail Fridman is one of the original founders of LetterOne.
Mikhail Fridman was born in Lvov, Ukraine on 21 April 1964. He graduated from school in Lvov in 1980, where he won school Olympiads in physics and mathematics. He won a place at the prestigious Moscow Institute of Steel and Alloys and graduated with honours in 1986. He started as an entrepreneur in 1988, establishing Courier, a window-washing business, with a group of friends from University, where they employed students from different Moscow universities. Together with several partners he founded the Alfa Group Consortium in 1989, primarily focusing on computer trading and copy machine maintenance, expanding into imports and exports, trading commodities and importing consumer goods. Alfa-Bank was established in December 1990, and grew to be one of the largest private banks in Russia today. In 1997, Alfa Group Consortium together with Access Industries/Renova Group acquired the TNK Oil Company. In 2003, Alfa Group and its partners completed a deal with BP to form the 50/50 TNK–BP joint venture. Mikhail Fridman served as a CEO of TNK-BP until July 2012, when it was sold to Rosneft for 56 billion USD. L1 was established in 2013 to invest in international projects. As well as being co-founder of LetterOne, Mikhail Fridman is Chairman of the Supervisory Board of Alfa Croup Consortium, one of the Russia’s largest privately owned financial-industrial conglomerates. He is a member of the Board of Russian Union of Industrialists and Entrepreneurs and the International Advisory Board of the Council on Foreign Relations (USA). Mikhail Fridman is an active supporter of Jewish initiatives worldwide.

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