Bets Of The Billionaires
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Alexander Mamut
Net worth: $1.2 billion
Residence: Moscow, Russia
Bet: mobile phones
On Tuesday, Alexander Mamut announced he was buying Evroset, a major retailer in Russia's mobile phone market. Mamut gets a big chunk of debt with Evroset--some estimates run as high as $850 million--but also gets to wager on Russia's mobile phone market. Sales could benefit as the country's prosperity rises. During the most recent quarter, the Russian gross domestic product grew by 7.5%. Mamut, who started his career managing money and banking, now focuses his attention on investing. His portfolio is disparate. Last year, he bought American blogging site LiveJournal.com.
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