German Khan
Oil, banking, telecom · Moscow
Net worth
$10.9B
Today
−$9M−0.08%Past month
−$27M−0.25%As of Nov 11, 2026, 1:50 PM EST
German Khan, a native of Ukraine, cofounded Alfa Group and LetterOne (Luxembourg), with fellow billionaires Mikhail Fridman and Alexei Kuzmichev. The college pals have been partners since 1989, when they started commodities trader Alfa-Eco. He is a cofounder of Alfa Bank, the largest non-state owned bank in Russia, which was hit with U.S. sanctions in April. Alfa Group's Tyumen Oil company merged with BP's Russian assets in 2003 to form TNK-BP. After 10 years, the partners sold their 25% stake in TNK-BP for $14 billion. Fridman, Aven, Khan and Kuzmichev were all sanctioned by the EU and U.K. in February and March 2022; Khan stepped down from LetterOne's board in March. He moved back to Moscow from London in the Summer of 2022.
Net worth over time
Principal holdings
5 positions| Company | Industry | Share | Value |
|---|---|---|---|
Private and other holdings | Energy | 74.4% | $8.1B |
X5 Retail Group (MICEX) | Energy | 11.2% | $1.2B |
VEON Ltd. ADR NASDAQ: VEON | Energy | 6.7% | $728M |
Distribuidora Internacional de Alime MADRID: DIA-ES | Energy | 5.8% | $624M |
Turkcell Iletisim Hizmetleri A.S. ISTANBUL: TCELL.E-TR | Energy | 1.9% | $207M |
Also known for
- Khan, who is an Israeli citizen, wanted to immigrate to Israel in the late 1980s, but friend Mikhail Fridman convinced him to start a business with him in Moscow.
- With Fridman, Khan filed defamation lawsuits in connection with allegations they worked with Kremlin to influence the 2016 presidential elections.
“In business, confrontation is always a prelude to further partnership.”