How much is German Khan’s net worth?
| net worth: | $10 billion |
|---|---|
| age: | 62 |
| Birth: | October 24, 1961 |
| gender: | Male |
| Height: | unknown |
| country of origin: | Ukraine |
| Sources of funds: | entrepreneur |
| Last Updated: | July 29, 2024 |
Introduction
German Khan is a Ukrainian-Russian billionaire businessman.
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Khan is best known as the head of the wholesale trading business Alfa Eco, which is part of the Alfa Group consortium.
Khan was born in Ukraine to a Jewish family. He was very interested in sports since childhood and trained to be a boxer during high school.
As of July 2024, German Khan’s net worth is estimated to be roughly $10 billion.
early life
German Borisovich Khan was born on October 24, 1961 in Kiev, Ukraine.
Khan is the son of Ukrainian Jewish parents from Lviv. His father was a professor of metallurgy.
He had a keen interest in sports from a young age and, during high school, he developed a long-term interest in boxing, saying the sport helps build confidence and self-discipline.
Khan graduated from high school in 1978 and then worked for a year as an apprentice in a factory.
Livelihood
German Khan got his start in 1988 after graduating from the Moscow Institute of Steel and Alloys (MISIS).
After opening a small clothing cooperative called Alexandria, he met Mikhail Fridman, who had also attended MISIS.
Fridman asked Khan to take over as head of his wholesale trading business, Alfa Eco, as part of the Alfa Group consortium.
Khan held several managerial positions at Alfa and was head of business operations until 1996.
He was also director of commodity trading from 1995 to 1998 and was made chairman in 1996, serving a two-year term.
After Alfa Group acquired TNK Oil in 2000, Khan was appointed deputy chairman of its management board.
German Khan had successfully established himself as a powerful businessman, competing with the likes of Gennady Timchenko.
TNK-BP and LetterOne
In 2003, half of TNK was sold to British Petroleum, the most significant foreign investment in Russian history.
This led to the creation of TNK-BP, owned by Alfa Group, Leonard Blavatnik, and Viktor Vekselberg.
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German Khan served as executive director of TNK-BP from 2003 to 2013 and was also associated with the Alfa Group as a whole.
During his tenure, TNK-BP became Russia’s third-largest oil company and one of the world’s top ten private oil producers.
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 company Rosneft, forcing Khan to leave the company a year later.
Soon after, he teamed up with Mikhail Fridman to create LetterOne and Letter One L1 Energy in 2013.
Unfortunately, in 2014 the oil industry experienced a sudden downturn and the value of the ruble plummeted, causing Khan to lose approximately 22% of his net worth.
Thankfully, by 2015 the market had improved and L1 Energy acquired 100% of international exploration and production company DEA.
Khan’s recent business
Soon after the DEA acquisition, all of its oil fields in the North Sea were sold to James Ratcliffe’s company INEOS for an undisclosed sum.
LetterOne then acquired German utility company E.ON’s stake in the construction of three new oil fields on the Norwegian continental shelf.
Since then, German Khan has retained his position on the supervisory board at Alfa Group Consortium and Alfa Group.
He is also a director of Alfa Fiancé Holdings, Alfa Bank, LetterOne Holdings and ABH Holdings, and a member of the board of DEA Deutsche Aerodel.
Khan’s business continued to run smoothly until March 2022, when he and Fridman were sanctioned by the UK and EU governments.
It was part of a wider list of sanctions targeting Russian oligarchs and officials in response to the Russian invasion of Ukraine in February 2022.
Following this, Khan resigned from his position at LetterOne and in April 2022, Alfa-Bank was placed under sanctions by the US.
Although he challenged the EU sanctions, the EU General Court rejected his appeal at the end of 2023.
In early 2024, Khan’s wife, Anjelica, also lost a similar appeal against British sanctions, and her case was dismissed.
German Khan’s net worth
As of July 2024, German Khan’s net worth is estimated to be roughly $10 billion.
How does German Khan spend his money?
German Khan spends some of his money on charity work.
Charity work of German Khan
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Khan supports the Lifeline charitable program and has helped provide medicine for sick children in Russia.
Highlights
Here are some of the best highlights of German Khan’s career:
- Alpha Echo
- Vice President of TNK Oil Company (1997–2003)
Favourite quotes from German Khan
“I never took the responsibility of creating a group of students or anyone who would consider me a teacher. I never intentionally teach anyone. However, there are many people who have grown with the company.” – German Khan
“There are some processes that I consider to be extremely bureaucratic. On the other hand, it is important to have a proper balance between entrepreneurship and bureaucracy. The most important skill is to find this balance and work on it in a way that suits the people involved.” – German Khan
“In my work, I have several task forces. There are issues related to my position as the owner of this company and other Alfa-Group businesses. We have a large number of connections, contacts and people, so if someone contacts me for advice or help, I always find time for them.” – German Khan
“The second problem is related to running the company through executive management, which consists of five people. Here the company management is done in a relatively democratic manner, which has both its 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 it needs to do it. This requires entrepreneurial skills as these are projects involving start-ups, entry into new territories and new products.” – German Khan
3 Amazing Lessons From German Khan
Now that you know all about German Khan’s net worth and his success, let’s look at some of the most important lessons we can learn from him:
1. State of mind
Success is a state of mind. If you want to be successful, start thinking of yourself as successful.
2. Struggling can be good
Always remember that efforts and struggle come before success, even in the dictionary.
3. Intuitive knowledge
Khan believes in pure self-inclination. He tries to understand what is most important at each stage and focuses on that.
During this time, some minor issues naturally crop up, for which he delegates most of the work to someone else and thinks about them from time to time.
Frequently Asked Questions
How much is German Khan worth?
German Khan’s net worth is estimated at $10 billion.
How old is German Khan?
German Khan was born on 24 October 1961 and currently, he is 62 years old.
How tall is German Khan?
The height of the German mine is unknown.
Summary
German Khan is a Russian businessman who owns Russia’s largest financial and industrial group, Alfa Group.
Khan graduated from the institute in 1988 and later joined the Alfa-Eco holding company, which he controls today.
It was founded in 1991 and has become one of the largest banks in Russia.
As of July 2024, German Khan’s net worth is estimated to be roughly $10 billion.
What do you think about German Khan’s net worth? Comment below.
Source: https://th-xuyenmoc.edu.vn
Category: Net worth