Herman Khan’s Business Success Story

Biography and Facts

First business After graduating from the institute, he started sewing and selling clothes in the cooperative “Alexandrina” together with Alexander Furman, a future deputy of the State Duma. In 1989, he joined Mikhail Fridman and Alexey Kuzmichev, whom he knew from MISIS.

He is the second owner after Fridman of LetterOne Holdings (L1), (German oil and gas company Wintershall DEA (33%), VEON – 56.2%, Turkcell – 19.8%) and assets of the Alfa Group consortium (Alfa Bank – 90.1%, AlfaStrakhovanie, X5 Retail Group – 47.9%) (as of February 24

Deal In 2017, LetterOne planned to acquire an oil and gas company in the U.S., but U.S. authorities did not give approval for the deal.

Court Khan, Friedman and Peter Aven filed libel suits in the U.S. in October 2017 over their references in the “Trump dossier” against its author Christopher Steele and related companies and lost. The litigation continued in London and ended in a victory for the partners in July 2020.

Sanctions In March 2022 fell under EU and UK sanctions.

Second citizenship Israel.

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