Born on October 24, 1961, in Kyiv, Ukraine, German Khan emerged as a prominent Ukrainian-Russian oligarch and businessman. His journey from a Ukrainian city to becoming a billionaire and international figure is a captivating story. As the son of Ukrainian Jewish parents from Lviv, Khan’s upbringing was marked by his father’s influence as a metallurgy professor.

Khan’s early life was not solely focused on academia. His high school years saw him develop a keen interest in boxing, which, as he later noted, played a significant role in shaping his confidence and self-discipline. Upon completing high school in 1978, Khan took on an apprenticeship at a factory, setting the stage for his future endeavors. His educational journey continued as he pursued mechanical engineering at the Kyiv-Pedagogical College, where he graduated in 1982.

The pursuit of knowledge led him to the Moscow Institute of Steel and Alloys (MISIS) in 1983. There, he specialized in steel production studies, delving deep into the complexities of this field. As Khan walked the path of higher education, he also ventured into the world of business, initiating small enterprises like the “Alexandrina” clothing cooperative, which he co-founded and served as deputy chairman, managing supply chain and sales. This venture marked his transition from academics to the dynamic world of business.

The Ascending Career of German Khan

The turning point in German Khan’s career came when he crossed paths with fellow businessman Mikhail Fridman, who had also attended MISIS. Fridman’s invitation led German Khan to lead the wholesale trade business Alfa Eco, a part of the expansive Alfa Group Consortium. What began as buying and selling various products, including carpets, soon expanded its horizons to domestic and international markets. German Khan’s role within the company evolved as he took on managerial positions, including the head of the wholesale trade department and later the head of the export department.

Khan’s journey was intertwined with the growth of Alfa Group Consortium, which also encompassed divisions like Alfa Capital Management, Rosvodokanal Group, AlfaStrakhovanie Group, A1 Group, and held interests in prominent companies such as Vimpelcom and X5 Group. His leadership and strategic vision in expanding the company’s focus on export and the oil trade played a pivotal role in the company’s success.

In 1997, Alfa Group Consortium, in collaboration with Access Industries and Renova Group, acquired the state-owned TNK Oil Company (Tyumen Oil Company). Khan’s involvement in the acquisition marked the beginning of a journey that would significantly impact Russia’s oil industry. During this time, he also joined the board of directors at TNK.

German Khan’s role continued to evolve, and he was appointed deputy chairman of the management board of TNK in 2000. He retained this influential position until 2003. This era marked a significant chapter in Khan’s career, setting the stage for the next phase.

Leadership in TNK-BP (2003–2013)

In 2003, Alfa Group Consortium sold exactly half of TNK to British Petroleum (BP) for a substantial amount, making it one of the most significant foreign investments in Russia at the time. The deal gave birth to TNK-BP, an oil company in which German Khan played a crucial role as executive director of TNK-BP Management and a member of the management board. During his tenure, TNK-BP emerged as Russia’s third-largest oil company and a top-ten private oil producer globally.

However, the road was not without its challenges. Disagreements with BP executives and the conflict with AAR (Alfa-Access-Renova) over TNK-BP’s internationalization strategy were among the hurdles Khan faced. In 2008, BP executives found themselves at odds with AAR regarding the company’s direction.

The disputes escalated in 2010 when Khan and Fridman resisted BP’s push to collaborate with the state-owned oil company Rosneft in Russia. This resistance was contrary to their existing shareholder agreement. As a result of these ongoing conflicts, German Khan’s net worth soared to an estimated $9.6 billion, placing him at the 92nd position on Forbes’ billionaires list. He was also ranked as the thirteenth wealthiest individual in Russia.

In January 2011, German Khan took on the role of executive director of TNK-BP Ltd., further solidifying his influence in the company. During this period, his contributions made a significant impact on the oil industry.

Founding of LetterOne and L1 Energy (2013–2015)

In a monumental move, TNK-BP was sold to the state-owned Rosneft in 2012 for $56 billion, one of the most substantial energy takeovers in history. German Khan officially parted ways with TNK-BP in March 2013 after Alfa Group sold its 50% stake in the company to Rosneft for $28 billion. Khan, along with Mikhail Fridman, went on to establish LetterOne (L1) in Luxembourg, with the aim of investing in international projects using the proceeds from the TNK-BP sale.

LetterOne’s L1 Energy was founded in 2013 and quickly gained momentum, with influential figures such as Lord Browne and industry experts joining its ranks. However, the oil industry experienced a downturn in 2014, causing German Khan to lose a significant portion of his estimated value. Nevertheless, the market’s subsequent recovery saw Alfa Group’s assets reach approximately $40 billion by March 2015.

The official launch of L1 Energy took place in May 2015, accompanied by ambitious plans to acquire and develop regionally focused platforms worldwide. LetterOne Group also expanded its reach, appointing prominent figures to its advisory board.

North Sea Assets and L1 Divisions (2015–2016)

In 2015, L1 Energy made a notable acquisition by purchasing RWE DEA, an international exploration and production company, for $7 billion. This acquisition was approved by several authorities, including the European Union and Germany, despite concerns about sanctions potentially affecting oil supplies in the North Sea. RWE DEA later sold its North Sea oil fields to Ineos in October 2015. Notably, the British government clarified that this move was not a judgment on LetterOne’s suitability to control assets in the UK.

German Khan retained positions on the supervisory boards of both Alfa Group Consortium and Alfa Group. His contributions to companies like Alfa Bank and DEA Deutsche Erdoel AG played a significant role in maintaining his status as one of Europe’s wealthiest individuals.

Sanctions and Philanthropy (2022)

In 2022, Khan, along with Mikhail Fridman and Alexei Kuzmichev, faced sanctions from the EU and UK in response to the 2022 Russian Invasion of Ukraine. These sanctions led Khan to step down from the LetterOne board. Furthermore, Alfa Bank, with which German Khan was associated, was also subjected to sanctions by the U.S.

Khan’s philanthropic efforts have not gone unnoticed. He actively supports the Life Line charitable program, which has saved thousands of seriously ill children in Russia. His involvement extends to Jewish initiatives, with contributions to organizations like the European Jewish Fund and the Genesis Philanthropy Group. In 2016, Khan joined an initiative to create a Holocaust memorial at Babi Yar in Ukraine, emphasizing the importance of historical remembrance and reconciliation.

Legal Matters and Personal Life

In 2017, Khan, along with fellow Alfa Bank owners Mikhail Fridman and Petr Aven, filed a defamation lawsuit against BuzzFeed for publishing the unverified Steele dossier, which alleged financial ties and collusion between Putin, Trump, and the three bank owners. Legal actions related to the dossier continued, with Khan and his colleagues pursuing libel suits against Fusion GPS and Christopher Steele. While some of these suits were dismissed, they underscored the legal challenges Khan faced.

Khan’s personal life is marked by a rich tapestry of experiences. He holds both Russian and Israeli citizenship and shares his life with his wife, Angelika, and their four children. Khan splits his time between London and Moscow, and his interests range from sports and endurance competitions to hunting. His ownership of sporting guns and rifles showcases his passion for these activities.

The journey of German Khan from his early days in Kyiv to his influential role in international business and philanthropy is a testament to his determination and vision. His impact on the world stage continues to be felt, making him a figure worth exploring. Zatrun.com offers an in-depth look into the life and career of German Khan, providing a comprehensive perspective on his remarkable journey from Ukraine to the global business arena.