Bloomberg: billionaire Herman Khan returned to Moscow
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The Russian billionaire co-founder of the LetterOne investment group Herman Khan, who fell under British sanctions, was forced to leave London, where he lived for almost ten years, and return to Moscow, reports Bloomberg.
Now German Khan lives in Moscow and manages the assets of Alfa Group. He earns income from his stake in X5, the country’s largest supermarket chain, and his stake in mobile phone company Vimpelcom Ltd.
With the exception of Mr. Khan, all of his partners in the LetterOne investment group – Peter Aven, Mikhail Fridman and Alexei Kuzmichev – still live abroad, according to Bloomberg. “For many wealthy Russians abroad, life has changed a lot,” notes Bloomberg. So, in an interview with this publication, Mr. Friedman, who now lives in London and whose accounts are frozen, said that he needed permission to spend money.
German Khan ranks 14th in the Forbes ranking of the richest Russians with a fortune of $7.8 billion. In March, Petr Aven, Mikhail Fridman and German Khan decided to leave the board of directors of Alfa-Bank and LetterOne due to the EU sanctions. They also left the board of directors of one of the largest Jewish charities Genesis Philanthropy Group.
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