Photo: Rodrigo Sepulveda Schulz
Yuri Milner, he of the $100-million Silicon Valley mansion, lands a profile in Wired (written by Michael Wolff) and its full of good nuggets.The investor, whose DST has stakes in Facebook, Zynga, Groupon, and more, jumped from zero equity two years ago to more than $12 billion.
Part of the strategy was a unique idea: “Milner offers something radically or foolishly different: an investment with no such preferences and no board seats. In effect, his money is like IPO money—no advantages for regular shareholders—without the burden of an IPO (the time suck of a road show, the administrative costs of being public, the short-term earnings pressure of the market),” Wolff writes.
Wolff also reveals that Milner is turning his sights to China. In the past year, he has invested more than $1 billion in Internet companies there.
But the most impressive part is how quickly Milner turned himself into an investor extraordinaire.
Milner—now the singular link between the major players of social media, Zuckerberg at Facebook, Mark Pincus at Zynga, Andrew Mason at Groupon, Jack Dorsey at Twitter, Daniel Ek at Spotify—is not thinking about individual deals but is aligning himself financially and strategically with the founders and reaping the benefits. Already, he competes with the topmost VCs in terms of personal wealth, and he is arguably now more important—Milner is setting the price.
Read the profile on Wired.com: How Russian Tycoon Yuri Milner Bought His Way Into Silicon Valley
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