Russian billionaire Alisher Usmanov’s investment soared more than 500 percent

Russian billionaire Alisher Usmanov’s investment soared more than 500 percent 1

Alibaba is one of the largest businesses in the world and make its name in the list of one of the largest companies currently. Alibaba has had great success over the past years which have bolstered its domestic and international status and position. One of its bitter rivals is AmazonDOTcom Moreover, Alibaba is now the world’s largest B2B service provider company. However, Alibaba says it is nothing like Amazon.com. The company believes that the Chinese market, United States market, and other international markets all work in their own different ways.

As the company posted record breaking IPO this year along with an increase of 38 percent in its share, investors and shareholders who invested in the company have gained a lot with this good business. Same is the case when Russian billionaire Alisher Usmanov’s investment in Alibaba has soared more than 500 percent since he invested in the group. It is believed that the billionaire has not sold any of his stake in the Chinese giant company, Alibaba. The billionaire himself said, “My Alibaba investment up over 500 percent.”

Russian billionaire Alisher Usmanov’s investment soared more than 500 percent 2

CNBC reports that “Usmanov’s holding in Alibaba is not public and the tech investor, Russia’s richest man worth $18.5 billion according to Forbes’ ranking of billionaires, declined to comment on how much money he made from the investment.” Founder Jack Ma who is the former English-teacher-turned-dotcom billionaire has touted his e-commerce platform as a way for smaller merchants to expand their international footprint, including access to consumers in China.

However the company says that the investment of Russian’s billionaire, Alisher Usmanov was not big or at least big enough for the company. Apart from Alibaba, the billionaire also has invested in the Chinese low-cost smartphone maker Xiaomi. According to Usmanov “They have become a major company in China, the most successful since Huawaei. We are great believers in this company and we’re always been prepared to invest, make an investment into this company. We know the creator of this company very well. And we’ll keep investing in such companies.”

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