Alisher Usmanov (RIA Novosti / Aleksey Nikolskyi)
Russia's Richest Man Usmanov Ditches Apple And Facebook For China -- RT
Russia’s biggest billionaire has bought shares in big Chinese internet retailer Alibaba, after selling his stakes in US tech giants Apple and Facebook. The deal comes as the West imposes sanctions on Russia, that could spread from politics to business.
Usmanov, 60, a founder of Russia’s iron ore Metalloinvest holding company, has an estimated fortune of $18.6 billion as of March 2014 and is increasing his bet on China, while selling American assets.
“Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign internet investments,” Ivan Streshinskiy, head of Usmanov’s asset-management company USM Advisors LLC, told Bloomberg in an interview in Moscow.
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My Comment: Alisher Usmanov is the "Warren Buffet of Russia" (more or less) .... what he does influences what others in Russia will do with their money. His 10% Facebook investment .... and selling it after the IPO for a massive profit .... is a textbook case on how an investor should invest in an internet company.
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