What is German Khan’s net worth?
| net worth: | $10 billion |
|---|---|
| age: | 62 |
| date of birth: | October 24, 1961 |
| gender: | male |
| high: | unknown |
| country of origin: | Ukraine |
| Source of wealth: | entrepreneur |
| Last updated: | July 29, 2024 |
introduce
German Khan is a Russian billionaire businessman of Ukrainian origin.
Khan is best known as the head of wholesale trading company Alfa Eco, which is part of the Alfa Group.
Khan was born into a Jewish family in Ukraine. He was very interested in sports since he was a child and was trained to be a boxer in high school.
As of July 2024, German Khan’s net worth is estimated to be around $10 billion.
early life
German Khan Borisovich was born on October 24, 1961 in Kiev, Ukraine.
Khan’s parents were Ukrainian Jews from Lviv. His father was a professor of metallurgy.
He has had a strong interest in sports since he was a child. During high school, he developed a long-term interest in boxing, believing that this sport has an impact on building self-confidence and self-discipline.
Khan graduated from high school in 1978 and then worked as an apprentice on a factory floor for a year.
Profession
German Khan started his career in 1988 after graduating from the Moscow Institute of Steel and Alloys (MISIS).
After opening a small clothing cooperative called Alexander, he met by chance Mikhail Fridman, who was also a graduate of Moscow State Institute of Steel and Alloys.
Friedman asked Khan to take over as head of his wholesale trading company, Alfa Eco, which is part of the Alfa Group consortium.
At Alfa, Khan held various management positions and served as Head of Trading Operations until 1996.
He also served as head of commodities trading from 1995 to 1998 and became president in 1996 for two years.
In 2000, after Alfa Group acquired Tyumen Oil Company, Khan was appointed deputy chairman of the company’s management committee.
Now, through his associations with the likes of Gennady Timchenko, the German Khan has managed to establish himself as a formidable businessman.
Tyumen-BP and LetterOne
In 2003, half of TNK was sold to BP, the largest foreign investment in Russian history.
This resulted in TNK-BP, owned by the Alfa Group, Leonard Blavatnik and Viktor Vekselberg.
German Khan served as executive director of TNK-BP from 2003 to 2013 and was also involved in the entire Alpha Group.
During his tenure, TNK-BP became the third largest oil company in Russia and one of the top ten private oil producers in the world.
By 2011, Khan’s net worth had increased to $9.6 billion, making him the thirteenth richest person in Russia.
However, in 2012, TNK-BP was sold to state-owned Rosneft, which led to Khan’s departure a year later.
Soon after, he co-founded LetterOne and Letter One L1 Energy in 2013 with Mikhail Fridman.
Unfortunately, a sudden downturn in the oil industry in 2014 and the devaluation of the ruble caused Khan to lose about 22% of his net worth.
Thankfully, by 2015 the market had improved and L1 Energy acquired 100% of the shares of international exploration and production company DEA.
Khan’s recent work
Soon after the acquisition of DEA, all of its North Sea oil fields were sold to James Ratcliffe’s company INEOS for an undisclosed sum.
Subsequently, LetterOne acquired German utility E.ON’s interests in three new oil fields along the Norwegian continental shelf.
Since then, German Khan has served on the Supervisory Board of the Alfa Group Consortium and the Alfa Group.
He is also a director of Alfa Fiance Holdings, Alfa Bank, LetterOne Holdings and ABH Holdings, and a member of the board of DEA Deutsche Erodel.
Khan’s business was going smoothly until March 2022, when he and Friedman were sanctioned by the British and EU governments.
This is part of a broad sanctions list targeting Russian oligarchs and officials in response to Russia’s invasion of Ukraine in February 2022.
Khan subsequently resigned from LetterOne, and in April 2022, Alfa Bank was sanctioned by the United States.
Although he challenged the EU sanctions, the General Court of the European Union rejected his appeal at the end of 2023.
In early 2024, Khan’s wife Anzhelika also lost a similar appeal against British sanctions and her case was dismissed.
German Khan Net Worth
As of July 2024, German Khan’s net worth is estimated to be around $10 billion.
How do German Khans spend their money?
German Khan donated some of his money to charity.
German Khan’s Philanthropy
Khan supports the Lifeline charity and helps provide medicines to sick children in Russia.
emphasize
Here are some highlights from German Khan’s career:
- Alpha Ecosystem
- Vice Chairman of TNK Petroleum Corporation (1997-2003)
German Khan’s Favorite Quotes
“I never took the initiative to develop students, or to develop anyone who would consider me a teacher. I never deliberately taught anyone. However, several employees grew with the company.” – German Khan
“I think some of the processes are very bureaucratic. On the other hand, there needs to be a reasonable balance between entrepreneurship and bureaucracy. The most important skill is to be able to find that balance and build on it in a way that works for the participants.” – German Khan
“In my job, I have various working groups. Some of the issues are related to my position as owner of this company and other Alfa-Group businesses. We have a lot of connections, contacts and people, so if someone asks me for advice or help, I always make time for them.” – German Khan
“The second set of issues concerns the management of the company through an executive management team of five people. The company management here is relatively democratic, which has both advantages and disadvantages.” – German Khan
“Third, there are issues related to our global strategy: where the company needs to go, what it needs to do and how to do it. This requires entrepreneurial skills, as the projects involve start-ups, entry into new regions and new products.” – German Khan
3 wonderful lessons from German Khan
Now that you know about German Khan’s net worth and how he achieved his success, let’s take a look at some of the most important lessons we can learn from him:
1. Mindset
Success is a mindset. If you want to be successful, start by imagining yourself as a winner.
2. Struggle is a good thing
Always remember that even in the dictionary, struggle and struggle lead to success.
3. Instinct
Khan believes in pure self-instinct. He tries to understand what is most important at each stage and focus on that.
In the process, some minor problems will naturally arise, and he mainly delegates these minor problems to others and then handles them regularly.
Frequently Asked Questions
How much is the German Khan worth?
German Khan’s net worth is estimated at $10 billion.
How old is the German Khan?
German Khan was born on October 24, 1961 and is 62 years old.
How tall was the German Khan?
German Khan’s height is unknown.
Summary
Herman Khan is a Russian businessman who owns Alfa Group, Russia’s largest financial and industrial conglomerate.
Khan graduated from the college in 1988 and later joined Alfa-Eco Holdings, which he has been controlling ever since.
It was founded in 1991 and has grown into one of the largest banks in Russia.
As of July 2024, German Khan’s net worth is estimated to be around $10 billion.
What do you think of German Khan’s net worth? Leave a comment below.
Categories: Net Worth
Source: svlsf.edu.vn