The majority of Prokhorov's fortune was built through his close ties to the late Russian President Boris Yeltsin and the privatization of Russia's precious metals industry in the early 1990s. He sold his original metals investment, Norilsk Nickel, to Oleg Deripaska's Rusal in 2007. Now owns stakes in Polyus Gold and basketball's New Jersey Nets.
Yvonne Ike, chief executive officer of Renaissance Capital’s West African operations, has quit to join Bank of America Corp. after almost three years with the brokerage owned by Russian billionaire Mikhail Prokhorov.
Mikhail Prokhorov , the billionaire who sold most of his assets before the global credit squeeze, said he’s keeping the Renaissance Capital stake he bought at the peak of the crisis after the Russian brokerage’s value doubled.