Herman Khan Net Worth

Biography of Herman Khan

German Borisovich Khan is an entrepreneur, billionaire, co-owner of Alfa Group and LetterOne investment company, who was previously in the management of TNK-BP, Slavneft and other enterprises.

According to Forbes, in 2016 his capital was estimated at $ 8.7 billion – thus, Khan closed the Top 10 richest businessmen in the Russian Federation. In the annual list of 200 richest people in the planet from the financial agency Bloomberg, he took 137 position.

As a person who managed to achieve a more than decent standard of living, Herman Khan admitted in an interview that he was always sure that his life would be non-standard, special, full of impressions and unusual events, not like most people. And so it happened.

Hermann Khan’s childhood and family

The future oligarch was born on October 24, 1961 in the capital of Ukraine and became the second son in a wealthy professorial family of a prominent metallurgist. His mother, despite material well-being, worked as a school teacher, and even the grandmother living with them (on the maternal side) made a feasible contribution to the family budget – until the last days she was engaged in sewing clothes.

From early childhood, relatives instilled in Herman the understanding that everyone is obliged to work hard. Nevertheless, at school, by his own admission, he studied poorly and attended it not at all for the purpose of gaining knowledge, but solely to communicate with friends. He often spent his leisure time in the courtyard company, and not with textbooks.

By the end of school, German Khan dreamed of nothing more than an early emigration. However, all his household members also thought about leaving the country. The only exception was the head of the family – he was quite satisfied with his own high status and position. But in order to fulfill his dream and leave, the young man lacked a profession. At the family council, traditional occupations for Jewish children – a jeweler and a dental technician – were considered as possible options for professional education. But he could not become a jeweler, because he could not draw, and the prospect of making dentures did not appeal to him either. Therefore, we settled on the profession of a locksmith-toolmaker, which is also well paid.

Herman Khan’s career

In 1978, the young man was admitted to the Kiev Experimental Equipment Plant as an apprentice toolmaker. The collective of the shop was friendly, 70 percent consisted of Jews. Six months later, Herman was awarded the II category.

In 1979, on the advice of his parents, he entered the Industrial Pedagogical College, graduating 3 years later with honors, after which he became a student at the Moscow Institute of Steel and Alloys without any problems. The first course of study was very difficult, but he passed the winter session with almost all the “fives” (with one “four”), rehabilitated in the eyes of his father for low school performance. At the institute, Herman strove to become the best, was engaged in social work, was the head of the group. In the 3rd year, he began earning his first money, selling and sewing garments, selling shoes and jewelry.

With an average grade of 4.7 in his diploma, Khan hoped to receive the then prestigious assignment to a defense enterprise. However, these plans were prevented from being realized by the “fifth column” – nationality. The situation was again saved by dad, who organized a call for him to work from one of the Kiev factories. He wanted his son to work in metallurgy and continue his life’s work. But the young businessman, who was already receiving 600 rubles a day, was absolutely not interested in the monthly salary of an engineer of 120 rubles. He had completely different plans – to stay in Moscow and prepare to leave for Israel.

Herman Khan’s business

In March 1989, an event occurred that dramatically changed his life. Near the synagogue on Arkhipov Street, German accidentally met Mikhail Fridman, with whom they studied together at MISiS, but did not communicate much. Now they both were delighted to meet, sat in a cafe, exchanged phone numbers, and subsequently began to be friends and cooperate.

With Fridman’s help, in 1990, Khan received the post of first the head of the wholesale trade, and 6 years later – the president of the Alfa-Eco JV, which later served as the basis for the creation of Alfa Group. German Khan was a member of the collective management of SIDANCO, Saratovneftegaz, ONAKO, Orenburgneft, Alfa-Bank.

Herman Khan’s interview

In 1998, a successful businessman took over as deputy chairman of the board of TNK. In 2003, he was in the management of Slavneft and, after the establishment of TNK-BP, was the executive director of the holding.

In 2010, the billionaire purchased a mansion in the capital of Great Britain in Eaton Square for $ 91 million.

Herman Khan. Lecture: “Investments: promising areas for investment”

The businessman is the second after Fridman (whose leadership he has more than once recognized) a shareholder of Alfa Group and the LetterOne (L1) investment group, which received, in particular, $ 200 million in dividends in 2015 from the Turkish mobile operator Turkcell.

One of the richest domestic entrepreneurs in 2013 became the head of the L1 subsidiary, created to improve efficiency and attract investment. He was actively involved in the preparation of the 2015 € 5.1 billion acquisition of German oil and gas company Dea.

Herman Khan on the problems of housing and communal services

Personal life of Herman Khan

The oligarch is married and has 4 children. Fate brought him together with his wife Angelica, who was 10 years old, in 1991, during a flight to Israel by plane of the private company Transaero. The girl was a flight attendant. They got married 2 years after they met.

In 1995, they had a daughter, Eva, in 2001, Eleanor. The couple also have two sons, born in 2005 and 2012. The eldest daughter studied at the Courtauld Institute of Art in London, trained at the Sotheby’s auction house. She improved her qualifications at the publishing house Tatler, the Russian version of the British magazine, as well as at the Jewish Museum and the Tolerance Center. The youngest girl, being a student of one of the prestigious schools of Foggy Albion, was fond of drawing.

The billionaire admitted that due to his busyness, raising children is mainly his wife, but he also participates in this process, trying to focus on the main things and a positive attitude towards life. He always spends his vacation with his family.

In his youth, Herman was seriously involved in boxing, later – in martial arts and extreme tourism. Together with friends, among whom he called Fridman, Aven, Vekselberg, he loves to go to the bathhouse and hunt. He is one of the founders of the Medved company in the Arkhangelsk region, which provides services to hunters. In addition, for 8 years they were participants in the Camel Trophy off-road car races – they tested themselves for endurance and strength in difficult situations.

Friends characterize a businessman as an intelligent and reliable partner, capable of thinking quickly, making decisions independently and enduring stress.

Herman Khan now

In 2016, Herman Khan’s investment group invested $ 200 million in the Uber service operating in 68 countries of the world (ordering a taxi through a mobile application). In addition, at this time, the L1 Health division was created, its office was opened in the United States and an intention was announced to invest $ 3 billion in medicine within three years.