German Khan (Russian: Герман Борисович Хан; born 24 October 1961) is a Ukrainian-Russian entrepreneur, business executive, and philanthropist. After graduating from university in 1988 he worked in a wholesale business selling consumer items, before setting up his own cooperative. He was then appointed the head of the wholesale trade business Alfa Eco as part of a wider company, Alfa Group Consortium, by Mikhail Fridman. He became president of Alfa Eco in 1996 and was instrumental in directing the company to focus on the export business and the oil trade. When Alfa bought Tyumen Oil (TNK) in 1997, he joined the board of directors. He served as deputy chairman of TNK Oil Company from 1997 until 2003. In 2003, Khan worked with the other TNK owners to form a 50-50 joint venture with British Petroleum (BP), in what was the biggest foreign investment in Russia to date at USD $8 billion.
TNK-BP became Russia’s third largest oil company. In 2013 TNK-BP was sold to Rosneft for USD $56 billion, a sale described by Reuters as “one of the biggest energy takeovers in history.” Khan joined Mikhail Fridman in establishing LetterOne, based in Luxembourg, for the purpose of investing proceeds of the proceeds from the TNK-BP sale in international projects. LetterOne’s L1 Energy fund was founded in 2013. Khan has donated funds to non-profits such as the European Jewish Fund, and co-founded and supports the Genesis Philanthropy Group.
Russian businessman German Khan is one of the founders of Alfa Group and he has an estimated net worth of $9.99 billion as of January 2018. Born German Borisovich Khan on October 26, 1962, in Kiev, he was a graduate of the Moscow Institute of Steel and Alloys.
Khan has business interests focused on the oil and gas industries. It is no wonder that he earned his estimated net worth of $10.5 billion with oil giant TNK which is half-owned by BP and was taken over by Alfa Group in 2003. He served as the Executive Director of TNK-BP Management from 2003 to 2013. He is also a member of the Management Board of the company. He is considered the 12th richest person in Russia and is ranked 103rd in the list of World Billionaires.
Mr. Khan, along with his college friend, Mikhail Fridman and Alexei Kuzmichev, they founded Alfa -Eco in 1989. After two years, they founded Alfa Bank which is now the biggest private bank in Russia. Today, Alfa Group is one of Russia’s largest privately owned investment groups with interests in oil and gas, commercial and investment banking, asset management, insurance, retail trade, telecommunications, water utilities and special situation investments. It has stakes in the cellular company, Vimpelcom, and owns the biggest retailer, X5.
In 2012, together with billionaires Viktor Vekselberg and Leonard Blavatnik, agreed to sell a 50% stake in TNK-BP for $28 billion to state-owned Rosneft. He earned almost $3.3 billion in cash.
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