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Thread: Russian Billionaire Buys $100 Million Stake in Apple

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  1. #1
    MMi Staff Writer Akshay Masand's Avatar
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    Default Russian Billionaire Buys $100 Million Stake in Apple


    Alisher Usmanov, a billionaire and also the richest man in Russia, recently bought $100 million in Apple stock. According to the Sunday Times Rich List, Usmanov is worth £13.3 billion converted to $19.95 billion- making him United Kingdom’s richest man and the 34th richest man in the world according to Forbes Magazine.

    In an interview with Bloomberg, Usmanov sees the recent decline in Apple’s share price a strong investment opportunity. Apple shares are down almost 40% compared to September of last year, before iPhones 5’s launch. He publicly declared his faith in Apple, the company’s future, and sees a "very promising investment.”

    Usmanov was known to make some risky decisions in the past, by making a bet on Facebook and its founder Mark Zuckerberg. But his Digital Sky Technologies (DST) ended up pocketing $1.3 billion on the investment. His plan with Apple is a repurchase program that will amount to $60 billion and a quarterly dividend of $3.05 per share- this is the largest share repurchase authorization in history.

    Apple CEO Tim Cook has been frustrated with the recent stock price decline but claims:

    Apple remains very strong and we will continue to do what we do best. We can't control items such as exchange rates and world economies, and even certain cost pressures, but the most important objective for Apple will always be creating innovative products — and that is directly within our control.
    Source: Bloomberg

    Twitter: @AkshayMasand

  2. #2
    Livin the iPhone Life steve-z17's Avatar
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    I wish I had just 1% of his fortune....I think he made a great investment!

  3. #3
    *T*
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    We all WISH things, but only those who DO are the ones who get the payout. Don't feel jealous, feel ashamed.

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    What's Jailbreak?
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    I think it's time for me to buy back aapl.

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    My iPhone is a Part of Me ProfessorJack's Avatar
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    If I had that kind of money I wood have bought into apple a long time ago

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    Quote Originally Posted by steve-z17 View Post
    I wish I had just 1% of his fortune....I think he made a great investment!
    He stands to make quite a bit more money after they release the upcomming Apple products some people have all the luck !

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    Livin the iPhone Life steve-z17's Avatar
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    Quote Originally Posted by *T* View Post
    We all WISH things, but only those who DO are the ones who get the payout. Don't feel jealous, feel ashamed.
    I'm definitely not jealous. Why should I feel ashamed? Because I don't have as much money as him? Lol, only a small group of people have more money than him, so I guess the rest of the world (including yourself) should feel ashamed according to your statement....??

    Quote Originally Posted by tridley68 View Post


    He stands to make quite a bit more money after they release the upcomming Apple products some people have all the luck !

    So true!

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    Livin the iPhone Life bigboyz's Avatar
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    Smart man!

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    he should've invested 500mil.... I know I would have.

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    Go Wings Zokunei's Avatar
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    Quote Originally Posted by *T* View Post
    We all WISH things, but only those who DO are the ones who get the payout. Don't feel jealous, feel ashamed.
    Shame doesn't exactly lead to positive action either. Have fun in shame I guess.

  12. #11
    iPhone? More like MyPhone
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    Probably just trying to piss some money away. Probably would have invested 7 years ago... not now...

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    iPhoneaholic novadam's Avatar
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    Quote Originally Posted by *T* View Post
    We all WISH things, but only those who DO are the ones who get the payout. Don't feel jealous, feel ashamed.
    someone just read Atlas Shrugged.

    it's fiction FYI.

  14. #13
    iPhone? More like MyPhone
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    BUY LOW & SELL HIGH!
    So why is everyone so amazed? Oh, I get it, part of the "I'm going to get rich off of Facebook stock" crowd is in here.
    ROFLMAO!! I know some PPL that fell for that scam and boy are they pissed and a lot more broke too...

  15. #14
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    Quote Originally Posted by tridley68 View Post


    He stands to make quite a bit more money after they release the upcomming Apple products some people have all the luck !
    Luck? What does luck have to do with this story?

    And really if the stock price goes up to what it was at its high point of 700+ he won't even double his money. I doubt the upcoming release of new apple products will be enough to cause the price to double. He will probably get a 50% return maybe. Not really "quite a bit more" in my opinion but don't get me wrong, is take 50 mil return on a 100 mil investment anyday

    I'm just trying to figure out why somebody who is worth 20 billion needs to invest a 100 mil to only get a return of around 50mil probably, maybe at most double his investment. You have 20 billion and can practically buy anything. What does he need a extra 50-100mil for? At least invest a bil or 2 right? Make it actually worth it. I just don't see how apples stock could ever get above $850.
    Last edited by frankjc81; 05-03-2013 at 02:36 AM.

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