The LetterOne investment holding company, founded by Mikhail Fridman, Petr Aven, German Khan and Alexey Kuzmichev, recorded a record loss of $7.8 billion at the end of 2022. The holding company suffered the largest losses in private investments.
LetterOne closed the year 2022 with losses of $7.8 billion, as indicated in the investment holding company’s report.
Last year’s loss was a record for LetterOne. The largest losses were suffered by the holding company in private investments (-2.5 billion dollars) and in its participation in the oil and gas company Wintershall Dea (-2.3 billion dollars).
The company’s net asset value fell from $27 billion in 2021 to approximately $19 billion, while LetterOne closed the year 2021 with a profit of $4.6 billion.
The LetterOne holding was founded in 2013 by Mikhail Fridman, Petr Aven, German Khan, Alexey Kuzmichev and their partners. In 2022, they all resigned from the company’s management due to Western sanctions. The management of LetterOne passed to Mervyn Davies.
Author:
Kirill Bilyk
Source: RB
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