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Yuri Borisovich (Bentsionovich) Milner[4] (Hebrew: יורי מילנר, Russian: Юрий Борисович (Бенционович) Мильнер; born 11 November 1961)[5] is a Soviet-born[1] Israeli entrepreneur,[1][6] investor, physicist and scientist.[7] He is a co-founder and former chairperson of internet company Mail.Ru Group (later VK),[8] and a founder of investment firm DST Global.[9]

Key Information

Early life

[edit]

Born into a Jewish family [10][11] on 11 November 1961, in Moscow,[12] Yuri Milner was the second child of Soviet intellectuals.[13] His father, Bentsion Zakharovitch Milner, was Chief Deputy Director at the Institute of Economics of the Russian Academy of Sciences and was active in management and organization.[14] Betty Iosifovna Milner, Yuri's mother, worked at Moscow's state-run virological laboratory for disease control. His older sister, eight years his senior, is an architect. In 1985, he graduated from the Faculty of Physics of Lomonosov University. He then worked at the Lebedev Physical Institute in the field of theoretical physics under the supervision of future Nobel laureate Vitaly Ginzburg.

Milner became an Israeli citizen in 1999. In 2005, he moved to Israel with his family. They relocated to California in 2014. Milner has stated he has not been to Russia since the 2014 Russian annexation of Crimea. In August 2022, he renounced his Russian citizenship, reportedly in response to the Russian Invasion of Ukraine.[1][15]

Education

[edit]

Milner studied theoretical physics at Moscow State University, graduating in 1985. He went on to work at Lebedev Physical Institute, one of the institutes of the Russian Academy of Sciences. As a doctoral candidate in particle physics, Milner befriended Soviet nuclear physicist and human rights activist Andrei Sakharov. Sakharov's co-founder would later influence Milner's venture investment strategy.[16]

In 1990, Milner became the first non-émigré from the Soviet Union to travel to the United States to receive a Master of Business Administration (MBA) at the Wharton School of the University of Pennsylvania.[13][17] The press quoted him as saying that he made this decision after "being disappointed in myself as a physicist."[18] Milner was a commencement speaker for the Wharton Business School's 2017 class.[19][20]

Business career

[edit]
Yuri Milner

Milner started his business career selling gray market DOS computers in the Soviet Union, which displeased his father. When the USSR collapsed, he stopped selling computers in order to enroll at the Wharton School to earn an MBA.[21]

After graduating, Milner spent the first half of the 1990s at the World Bank in Washington, D.C., as a Russian banking specialist focused on the development of private sector banking. He has described his time at the World Bank as his "lost years", due to the privatization of government holdings during the presidency of Boris Yeltsin.[13] In the spring of 1995, Milner was appointed CEO of Alliance-Menatep, a stock brokerage company belonging to then oligarch Mikhail Khodorkovsky.

In December 1996, Milner worked as vice president and Head of Investment Management of Menatep Bank. In February 1997 Milner was appointed the deputy chairperson and the head of the investment division of Menatep Bank but left this position in early 1998.[22] At the time, the market makers described him as "a well-known professional, who will bring the bank valuable experience in international financial institutions and transactions in the Russian investment market".[23]

Russian Internet investments

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In 1999, after reading a review by Morgan Stanley analyst Mary Meeker on the prospects for online businesses, Milner decided to create an Internet company. He sought funding from his friend from Menatep days Gregory Finger, who at the time led the Russian branch of the US investment fund New Century Holding. The fund agreed to invest $4.5 million with the proviso that Milner and Finger each personally invest $750,000. Milner, Finger, and NCH created a new company, NetBridge.[24] In 2000, Milner became the president of Netbridge Services Ltd. (netBridge) – the company that was, "created as an Internet incubator and investment fund". Netbridge succeeded in transferring a variety of U.S.-pioneered Internet business models to Russia, creating companies including the portal List.ru, online auction site Molotok.ru (based on eBay), free web-hosting Boom.ru (based on GeoCities), and online shop 24×7, using the formula of Amazon.com.

In February 2001, netBridge and Port.ru (which owned Mail.ru) announced a merger. Milner became CEO of the new company named Mail.Ru (though the legal name Port.ru was also retained).

In 2005, NCH shifted its focus from Russian Internet projects and Milner founded the investment fund Digital Sky Technologies (DST), becoming its chairperson in 2006. A meeting through mutual friends resulted in Alisher Usmanov becoming a shareholder of Digital Sky Technologies (DST) in 2008. On 16 September 2010, Digital Sky Technologies (DST) changed its name to "Mail.ru Group".[25]

In 2010, Mail.ru Group completed successful initial public offering on the London Stock Exchange with market valuation of $5.6 billion.[26]

In March 2012, Milner stepped down from the role of chairperson of Mail.ru and from the board of directors.[27] Dmitry Grishin was elected to the board and appointed as chairperson while retaining his CEO position. There were no other changes to management or to the board.

Post Mail.ru Group's IPO, DST is the sole vehicle for further international investments. The company is now fully independent of Mail.ru Group.[28]

From May 2009 to January 2012, Milner was a member of the Commission on Modernization established by Dmitry Medvedev, the Russian President from 2008 to 2012.[29]

Technology investments

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Main article: DST Global

In January 2009, while in Palo Alto, Milner became acquainted with Facebook founder Mark Zuckerberg. The meeting led to an agreement on 26 May 2009 under which DST bought a 1.96% stake in Facebook for $200 million.[30]

On 16 September 2010, Digital Sky Technologies (DST) changed its name to "Mail.ru Group".[25] The group's portfolio included Mail.ru, Odnoklassniki.ru, ICQ, a minority stake in the social network VKontakte (Russian Facebook equivalent), online payments service OSMP.ru, e‑Port, as well as some other Russian assets. Milner's commercial interests in Facebook, Zynga, and Groupon were transferred to DST Global. Milner became the CEO of DST Global and the chairperson of the board of directors of Mail.ru Group. In November 2010, Mail.ru Group held its offering on the London Stock Exchange.[31] In March 2012, Milner stepped down from the role of chairperson of Mail.ru and from the board of directors.[27]

On 5 November 2017, The New York Times reported that Milner had strong Kremlin backing for his investments in Facebook (over 8%) and Twitter (5%).[32] His companies sold these holdings two years before that report was made public however,[32] Milner denied any allegation he was working with Russia to turn social media against US Democracy in his open letter published in ReCode.[33]

Altos Labs

[edit]

In September 2021, an investment vehicle held for the benefit of the Breakthrough Foundation, co-founded by Yuri and Julia Milner, which supports existing and future philanthropic projects in fundamental sciences, invested in Altos Labs together with Amazon.com founder Jeff Bezos.[34] Altos Labs is a funded biotechnology company dedicated to harnessing cellular reprogramming to develop longevity therapeutics.[34] The company has recruited prominent scientists such as Juan Carlos Izpisúa Belmonte (known for work on rejuvenation through reprogramming), Steve Horvath (known for work in epigenetic aging clocks), and Shinya Yamanaka (the Nobel Prize-winning inventor of cellular reprogramming in mammalian cells).[34] Milner reportedly originally considered pursuing reprogramming philanthropically, having already awarded three-year grants of $1 million a year to several geroscience researchers, but was convinced by former National Cancer Institute head Richard Klausner that a well-funded biotech company would lead to faster progress.[34]

Selected investments

[edit]
  • On 29 January 2011, Milner announced that he would invest $150,000 into each of the start‑up program participants selected by the incubator Y Combinator.[35]
  • In February 2014, it was announced that Milner had led a round of funding for cloud-graphics company, Otoy.[36]
  • In April 2016, online mortgage broker platform Habito launched with backing from Milner, amongst other fintech investors.[37]

Forbes list controversy

[edit]

On 29 January 2018, Milner's name was included in the United States Treasury Department's "Report to Congress Pursuant to Section 241 of the Countering America's Adversaries Through Sanctions Act of 2017 Regarding Senior Foreign Political Figures and Oligarchs in the Russian Federation and Russian Parastatal Entities" (CAATSA),[38] a list of 96 individuals of Russian heritage who "have an estimated net worth of $1 billion or more".[38]

Although it was widely reported in the media that those on the list "may be subject to sanctions",[39] the CAATSA Report itself made clear that it "in no way should be interpreted to impose sanctions on those individuals or entities". It also specified that inclusion in the report "does not constitute the determination by any agency that any of those individuals or entities meet the criteria for designation under any sanctions program", and in no way indicates that "the U.S. Government has information about the individual's involvement in malign activities".[40] Shortly after the list was released, it was reported that the Treasury Department had simply copied it from the Forbes' 2017[41] The World's Billionaires list: people on the Forbes list who had Russian heritage and a net worth of $1 billion or more had been indiscriminately included in the CAATSA Report.

In its response to a lawsuit asserting that the compilation of the list was "arbitrary, capricious, and contrary to law",[42][43] the Treasury Department has confirmed that it is "not challenging" the allegation that it had "simply republished" the Forbes billionaires list.[43] In April 2020, in its annual Billionaire List Forbes magazine re-classified Yuri Milner from the Russian list to the Israeli list of billionaires, confirming his Israeli citizenship and close ties to the country.[44]

Philanthropy

[edit]

Breakthrough Prize

[edit]
Main article: Breakthrough Prize

In July 2012, Yuri and Julia Milner established the Breakthrough Prize, joined the following year by Sergey Brin, Priscilla Chan, Anne Wojcicki, and Mark Zuckerberg. The Prize is a set of international awards recognizing three fields of endeavor: Breakthrough Prize in Fundamental Physics, Breakthrough Prize in Life Sciences, and Breakthrough Prize in Mathematics. Laureates receive $3 million each in prize money, making the Breakthrough Prize the largest scientific award in the world.[45]

Breakthrough Initiatives

[edit]
Main article: Breakthrough Initiatives

In July 2015, Milner launched Breakthrough Initiatives, a scientific program to investigate the question of life in the Universe.[46] He announced the initiatives at the Royal Society in London, alongside Stephen Hawking, Martin Rees, Frank Drake, Geoff Marcy and Ann Druyan.[47]

COVID-19 response

[edit]

On 25 March 2020, the Milner Foundation, a non-profit foundation co-founded by Yuri and Julia Milner, announced $3 million donation to three Israeli institutions: Magen David Adom, the national emergency medical response organization; Tel Aviv University Faculty of Medicine and Life Sciences; and Tel Aviv Sourasky Medical Center, Ichilov Hospital.[48]

A few weeks later, Milner Foundation announced a donation of 3 million face masks for the people of Israel.[49] Yuri Milner in his open letter published by Calcalist wrote that "a significant fraction of these masks will go to organizations providing essential services, whose frontline workers are still required to do their jobs during the lockdown".[50] The masks arrived to Ben Gurion Airport on 16 April 2020, on board of dedicated charted El Al "Jerusalem of Gold" Dreamliner plane and were distributed by Magen David Adom to its emergency services staff, as well as to a range of hospitals, government offices, and national institutions providing essential services to the public.[51]

Response to Russia's invasion of Ukraine

[edit]

Milner's companies have denounced the invasion on multiple occasions,[52] and Milner has personally condemned Russia's war against Ukraine on his Twitter account.[53][54] Milner has not visited Russia since the 2014 Russian occupation of Crimea, and renounced his Russian citizenship in response to the Russian invasion of Ukraine.[15] He has also donated tens of millions of dollars on several occasions in support of Ukrainian refugees.[55]

Milner said, "The great irony is that we are the least Russian fund right now and have been because we made a consistent effort." He told Bloomberg News that DST hasn't taken money from Russia since a $900 million fund in 2011, and most Western banks were in business with Russia until years after he stopped.[56]

Tech for Refugees

[edit]

In April 2022, the foundation co-founded by Yuri and Julia Milner pledged $100 million to Tech for Refugees, a philanthropic initiative launched with Airbnb.org, Flexport.org, and Spotify.[55] The initiative is focused on using technology to help refugees from Ukraine to find provisions, shelter, and comfort, and it plans to expand the program to address other refugee crises around the world.[55]

Other donations

[edit]

In March 2022, the non-profit foundation co-founded by Yuri and Julia Milner as well as DST Global, and the Breakthrough Prize Foundation all donated funds to support humanitarian relief for refugees fleeing the Russian invasion of Ukraine. The Breakthrough Prize Foundation donated $3 million to international relief organizations to help the victims of the conflict, and pledged a further $3 million to support scientists forced to flee from Ukraine.[57] Pledged $3 million were distributed to:

  • $1 million to the National Academy of Sciences's initiative to help scientists maintain their livelihoods and dignity after fleeing Ukraine, remaining employed and connected to the global scientific community.[58]
  • $1.5 Million to ALLEA, the European Federation of Academies of Sciences and Humanities, for Distribution Via European Academic Institutions.[59]
  • $500,000 to consortium of leading Israeli universities led by Tel Aviv University.
  • A $2.1 million challenge grant to the U.S. National Academy of Sciences to fund scientific research led by Ukrainian scientists.[60]
  • A $800,000 to the Australian Academy of Science to support research collaborations and access to Australian infrastructure and facilities for researchers forced to leave Ukraine.[61]

DST Global committed $3.5 million [62] to Mila Kunis and Ashton Kutcher's Stand With Ukraine initiative to help the refugee relief efforts.[63] The foundation co-founded by Yuri and Julia Milner gave a further $2 million to Stand With Ukraine, as well as donating $3m [64] to the Conference of European Rabbis to support efforts to help Jewish refugees from Ukraine.[65]

Giving Pledge

[edit]

On 10 December 2013, Yuri and Julia Milner joined [66] the Giving Pledge, the initiative created by Warren Buffett, Melinda French Gates, and Bill Gates in which signatories pledge to donate the majority of their wealth to philanthropic causes. The Milners announced[67] that their donations would go to predominantly scientific causes and programs, with Yuri Milner stating: "In my opinion, scientific brilliance is currently under-capitalized. If the market dictates that a top banker can earn a thousand times more than a great scientist, then this is an area where philanthropy can make a world of difference—and so make a difference to the world."[67]

Personal life

[edit]
Yuri and Julia

In an interview with Vedomosti in 2010, Milner said:

In the past few years I simply do not have time for hobbies. I am even starting to forget what I was fond of. Such as in the past it was reading of literature not related to work.[68]

Milner is married to former high fashion model and contemporary artist Julia Milner (née Bochkova). She is interested in photography: during the 52nd Venice Biennale of Contemporary Art she produced a contribution entitled Click I Hope.[69]

Assets

[edit]

In 2011, Milner bought a $100 million home in Los Altos Hills, California.[70] The compound spans three plots totaling seven hectares and includes a roughly 25,500-square-foot (2,370 m2) main house and a 5,500-square-foot (510 m2) guest house. The Wall Street Journal reported the price as $100 million, saying it was the most ever paid for a single-family home in the United States. The property is appraised by the Santa Clara County assessor at $50 million.[71] Milner attends synagogue, but is only minimally religiously observant.[10]

Milner believes that the Internet will eventually develop into a "global brain" – which is often described as an intelligent network of individuals and machines – functioning as a nervous system for the planet Earth.[72] He also envisages that the advent of the Internet of things and ever increasing use of social media will increase humans' collective intelligence.[73][74]

He published some of his ideas on humanity's place in the Universe in a book, Eureka Manifesto: the Mission for Our Civilization.[75]

Milner is among a list of people named in the Paradise Papers.[76][77]

On 24 March 2020, Milner published a fact sheet setting out his and DST Global's relations with Russia.[78] It included statements that he is an Israeli citizen, has never met Vladimir Putin, made 97% of his capital outside Russia, has no assets in Russia and has not visited the country since 2014.[1] Also, DST Global has no investments in Russia and has received no investments from a Russian institution since 2011.[1] In addition, in 2018 the Wall Street Journal confirmed that it had incorrectly named DST Global a Russian firm and it has corrected 13 additional articles containing the same error.[79]

Russian citizenship

[edit]

In August 2022, Yuri Milner officially completed the process of renouncing his Russian citizenship.[80]

Awards and recognitions

[edit]

In September 2017, Forbes included Milner to the list of 100 greatest living business minds.[81] Milner was named one of the World's Greatest Leaders by Fortune magazine in March 2017,[82] was listed in the "Titans" category of Time magazine's 2016 Time 100.[83] Foreign Policy magazine included Milner on its "Power List" – an inaugural list of the 500 most powerful people on the planet in May 2013.[84] Milner was included in Bloomberg Markets' 2012 50 Most Influential list. In Fortune's 2010 list of the world's fifty most prominent businessmen, Milner was ranked 46th. That same year Russian business magazine Vedomosti recognized him as "Businessman of the Year".[85]

  • "The World's 50 Greatest Leaders" – Fortune, April 2018.[86]
  • "100 Greatest Living Business Minds" – Forbes, September 2017.[87]
  • "The World's 50 Greatest Leaders" – Fortune, March 2017.[88]
  • "The Midas List 2017" – Forbes, April 2017.[89]
  • "The Wired 100 - 2016" – Wired, August 2016.[90]
  • "The 100 Richest Tech Billionaires in the World in 2016" – Forbes, August 2016.[91]
  • "Time 100 Most Influential People 2016" – Time, April 2016.[92]
  • "The Midas List 2016" – Forbes, April 2016.[93]
  • "The Midas China List 2016" – Forbes, April 2016.[94]
  • "New Establishment List 2015" – Vanity Fair, September 2015.[95]
  • "Wired 100" – Wired, August 2015.[96]
  • "The Midas List 2014" – Forbes, April 2015.[97]
  • "New Establishment List 2014" – Vanity Fair, September 2014.[98]
  • "The Midas List 2013" – Forbes, May 2013.[99]
  • "Power Map: 500 most powerful people on the planet" – Foreign Policy, May 2013.[100]
  • "Most Influential 50" – Bloomberg Markets, September 2012.[101]
  • "The Silicon Valley 100" – Business Insider, February 2012.[102]
  • "Top 50 Digital Power Players" – The Hollywood Reporter, January 2012.[103]
  • "Businessperson of the Year – Top 50" – Fortune, November 2011.[104]
  • "Man of the Year" – GQ (Russian), October 2011.[105]
  • "Vanity Fair's New Establishment List 2011" – Vanity Fair, September 2011.[106]
  • "Kommersant of the Year" – Kommersant, June 2011.[107]
  • "The 100 Most Creative People" – Fast Company, May 2011.[108]
  • "The Midas List of Tech's Top Investors" - Forbes, April 2011.[109]
  • "World's Billionaires" – Forbes, March 2011.[110]
  • "Owners of Virtual Reality List" – Forbes (Russian), February 2011.[111]
  • "Businessman of the Year" – Vedomosti, December 2010.[112]
  • "The Smartest People in Tech" – Fortune, July 2010.[113]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Yuri Milner

View on Grokipedia
from Grokipedia
Yuri Milner (born 1961) is a Russian-born Israeli physicist and venture capitalist who founded the investment firm and co-founded the Breakthrough Prize Foundation. After graduating from in 1985 with an advanced degree in , Milner conducted research in before pursuing an MBA at the and entering the technology sector. He established in 2009 to invest in late-stage companies, achieving notable successes with early stakes in Alibaba, , and (now X), which propelled the firm to prominence among global technology investors. In philanthropy, Milner has directed substantial resources toward fundamental , co-founding the Breakthrough Prize in 2012 with his wife Julia Milner and partners including to award $3 million annually for transformative contributions in physics, life sciences, and . He has also supported ambitious projects such as the $100 million initiative launched in 2016 to develop nanocrafts for interstellar exploration. In 2022, Milner renounced his Russian citizenship amid geopolitical tensions.

Early Life and Education

Family Background and Childhood in the

Yuri Borisovich Milner was born on November 11, 1961, in , Russian SFSR, , into a Jewish family of intellectuals. His father, Bentsion Zakharovich Milner (also rendered as Boris Milner), was a prominent Soviet and who specialized in American practices, authoring or editing approximately 50 books on business and economics. The family background included Ukrainian-Jewish paternal heritage and Russian-Jewish maternal roots, reflecting the diverse ethnic composition common among Soviet Jewish . As the second child in the family, Milner grew up in amid the intellectual environment shaped by his parents' academic pursuits during the Brezhnev-era . Limited public details exist on specific childhood experiences, but the household emphasis on scholarly work and Western economic theory—evident in his father's publications—likely influenced his early exposure to theoretical and analytical disciplines. This setting, within a Jewish family navigating Soviet restrictions on religious and cultural expression, provided a foundation in rigorous intellectualism rather than overt material privilege.

Academic Training in Physics and Economics

Milner enrolled at in the late 1970s to study , graduating in 1985 with an advanced degree equivalent to a in the Soviet educational system. Following graduation, he pursued doctoral research in , conducting work in at the of the , a leading Soviet research institution focused on fundamental physics. In 1989, amid the loosening economic controls of , Milner abandoned his physics doctorate to pivot toward applied fields, reflecting a broader trend among Soviet scientists seeking opportunities outside pure research amid systemic constraints on theoretical work. He then relocated to the in 1990 as one of the first Soviet citizens permitted to study abroad post-Cold War thaw, enrolling in the MBA program at the of the to train in and . Milner completed his Wharton MBA in 1992, gaining expertise in financial markets, investment analysis, and , which equipped him for subsequent roles in . This economics-oriented training contrasted with his physics background, emphasizing practical applications of quantitative modeling and market dynamics over abstract theory. Post-graduation, he applied these skills during a three-year stint at the World Bank's financial sector division, analyzing economics before returning to .

Business Career

Foundations in Russian Internet Sector

In 1999, Milner established NetBridge, an investment vehicle designed to adapt and invest in U.S.-style business models for the Russian market, including portals, search engines, and services. The venture focused on early-stage opportunities amid Russia's nascent online ecosystem, where penetration was under 1% and infrastructure lagged behind Western counterparts. The dot-com crash of 2000–2001 severely impacted NetBridge's portfolio, prompting a strategic merger in with Port.ru—a competitor offering similar and portal services—under Milner's orchestration as NetBridge's manager, with backing from investor Igor Linshits. This consolidation formed Mail.ru, Russia's first major provider, which quickly captured by providing free accounts and localized content during a period of economic recovery and rising dial-up adoption. Milner assumed the role of CEO of Mail.ru from to 2003, steering its survival and initial expansion despite ongoing financial pressures. In 2005, Milner co-founded Digital Sky Technologies (DST) as a dedicated to consolidate and expand control over Mail.ru, acquiring a majority stake and integrating additional Russian internet assets such as the social network . DST's strategy emphasized aggressive equity investments in high-growth online platforms, leveraging Mail.ru's user base—reaching millions by mid-decade—for cross-promotions in messaging, gaming, and advertising. By 2006, DST had increased its Mail.ru holdings to near-full ownership, positioning the group as a cornerstone of Russia's , which grew at over 30% annually through the late .

Launch and Expansion of DST Global

DST Global was founded by Yuri Milner in 2009 as a Cayman Islands-registered firm focused on late-stage investments in internet-based companies, marking a pivot from Milner's earlier Russian-centric ventures to global opportunities. The firm's launch coincided with its inaugural major deal: a $200 million investment in on May 26, 2009, securing approximately 2% ownership at a $10 billion without demanding board seats or voting rights, a structure that highlighted Milner's strategy of providing to founders while betting on network effects in social platforms. This transaction, executed through DST entities including Mail.ru Group, propelled DST Global's visibility and attracted capital from non-Russian sources, with co-founders Saurabh Gupta, John Lindfors, Rahul Mehta, and Tom Stafford joining to handle operations, investments, and finance. Expansion accelerated through successive funds and diversified bets on high-growth tech firms. DST Global II launched in 2011, followed by DST Global III in 2012 raising $1 billion led by and Yuri Milner, enabling stakes in (acquired 2011, divested May 2014) and gaming platform . Subsequent funds—IV (2014), V (2015), VI (2018), VII and VIII (2019), and IX (2021)—amassed billions from over 150 investors across , , the , and , with no Russian capital accepted after DST Global II and less than 3% prior exposure from (fully divested by 2014). The firm established offices in , New York, , , and to source deals, culminating in a portfolio exceeding 80 companies, including , , Alibaba, , and , yielding substantial returns from exits like (divested 2012–2013, transforming the initial stake into multibillion-dollar gains). This growth positioned DST Global as a pre-IPO , emphasizing concentrated wagers on platforms with viral user acquisition over broad diversification, though it drew scrutiny for opaque fund structures and limited public disclosure on individual deal terms. By the mid-2010s, the firm's exceeded $10 billion across funds, funding bets on and mobility disruptors while maintaining a deal pace of 3–4 annually to prioritize outsized "" outcomes.

Major Technology and Social Media Investments

In 2009, Yuri Milner founded as a firm specializing in late-stage investments in internet and technology companies, marking a shift from his earlier Russian-focused ventures to global opportunities. The firm's strategy emphasized large, concentrated bets on high-growth platforms, often providing liquidity to employees and early investors through secondary share purchases. DST Global's breakthrough came in May 2009 with a $200 million investment in , acquiring a 1.96% stake at a $10 billion valuation and offering to buy up to $100 million in employee shares for added . This deal, one of the largest private investments in the company at the time, yielded substantial returns; DST later expanded its stake and sold shares post-IPO, realizing billions in gains. In 2011, DST added $50 million more to at a $50 billion valuation. The firm extended its social media focus to in August 2011, leading an $800 million funding round that included $400 million in new capital from DST, valuing the platform at $8.4 billion and enabling secondary sales to employees. This investment capitalized on 's rapid user growth, with DST benefiting from the company's eventual public listing. Beyond , DST targeted and gaming tech: in September 2011, it partnered with Silver Lake for a $1.6 billion to buy Alibaba employee shares, implying a $32 billion valuation for the Chinese giant ahead of its IPO. In the gaming sector, DST invested hundreds of millions in around 2010–2011, supporting its social gaming expansion before its public debut. Subsequent portfolio additions included and , reflecting DST's broader tech ecosystem plays in and streaming services. These investments, often exceeding $100 million per deal, established DST as a key player, with Milner's approach prioritizing network effects and user scale over diversified smaller bets.

Biotechnology Ventures Including Altos Labs

In 2021, Yuri Milner emerged as a principal founder and investor in , a firm dedicated to advancing cellular programming for restoring cell and resilience, targeting the reversal of age-related diseases, injuries, and disabilities. The company's origins trace to an October 2020 conference hosted by Milner at his Los Altos Hills mansion, which convened experts in biological reprogramming to explore extending human lifespan through cellular restoration rather than mere disease treatment. was incorporated in both the and that year, with Milner channeling investments via his Research Foundation, providing grants of $1 million annually for three years to support initial research efforts. By June 2021, had raised at least $270 million in funding, drawn from Milner and Amazon founder , enabling the recruitment of leading scientists such as Nobel laureate —who chairs the scientific advisory board—Juan Carlos Izpisúa Belmonte of the Salk Institute, Steve Horvath of UCLA, and Wolf Reik, formerly of the Babraham Institute. In January 2022, the company publicly launched with over $3 billion in committed capital from these and other backers, including additional Nobel recipients like and on its advisory board, and appointed Hal Barron—previously chief scientific officer at GlaxoSmithKline—as CEO effective summer 2022. Operations span facilities in and , a hub in , , and partnerships in under Yamanaka's oversight, emphasizing curiosity-driven research without short-term revenue pressures. Altos Labs' core technology leverages partial reprogramming—building on Yamanaka's induced pluripotent stem cell factors—to reset epigenetic clocks in mature cells toward a youthful state, avoiding full dedifferentiation to reduce risks like tumor formation observed in earlier experiments. While proponents highlight potential breakthroughs in longevity, critics including researcher Alejandro Ocampo have noted the field's hype exceeds current evidence, with human translation challenged by safety concerns and unproven scalability despite animal model successes. Milner's stake in Altos represents his primary foray into direct biotechnology investment, distinct from his technology-focused DST Global portfolio, though no other comparable personal biotech ventures have been disclosed.

Investment Controversies and Scrutiny

In , leaked documents from the revealed that , founded by Yuri Milner, received loans totaling approximately $850 million from , a Russian state-controlled institution chaired by ally Andrei Kostin, to finance early-stage investments in U.S. technology firms including and . These funds, routed through offshore entities in and the , supported DST's $200 million purchase of a 1.96% stake in in 2009 and an $80 million investment in in 2011, amid growing concerns over Russian influence in Western tech sectors. VTB's involvement raised questions about potential leverage, as the bank held minority stakes in DST vehicles without direct control over investment decisions, according to Milner. Milner, who maintained that VTB's contribution represented less than 5% of DST's overall funding and was purely commercial with no policy influence on portfolio companies, faced heightened scrutiny in the context of U.S. investigations into Russian election interference. He disclosed the VTB partnership to limited partners and portfolio firms at the time, denying any nondisclosure or ulterior motives, and noted that DST ceased raising capital from Russian sources after 2011. Critics, including U.S. lawmakers, questioned whether such funding enabled indirect Russian access to platforms' data or algorithms, though no evidence emerged of DST exerting influence on behalf of ; the investments were fully exited by 2013 for and earlier for . Further associations included DST's partnerships with Russian oligarch , who co-invested in the funds and held indirect stakes via entities like Mail.ru Group, amplifying perceptions of opaque Russian capital flows into . Post-2017, no formal U.S. regulatory actions targeted Milner or DST directly, but the revelations prompted broader reviews of foreign in tech, including CFIUS examinations of risks from state-linked funds. Following Russia's 2022 invasion of , Milner publicly condemned Putin and relinquished his Russian citizenship in October 2022, actions framed as severing remaining ties amid firms' efforts to purge Russian-linked funding. affirmed no ongoing Russian investor involvement, with post-2011 capital sourced diversely from global limited partners, mitigating prior geopolitical exposures. These steps occurred against a backdrop of intensified sanctions on VTB and Russian entities, though earlier investments predated such measures and yielded no proven security breaches.

Philanthropy and Scientific Initiatives

Creation of the Breakthrough Prize

In 2012, Yuri Milner established the Fundamental Physics Prize—later integrated into the broader framework—to recognize transformative contributions to fundamental physics, awarding $3 million annually to one or more individuals or teams for profound advancements in human understanding of the universe. The prize emphasized recent breakthroughs over lifetime achievements, surpassing the in monetary value (approximately three times greater at the time) to better incentivize high-risk, fundamental research. On July 31, , Milner personally selected and announced the nine inaugural laureates, including physicists for cosmic inflation theory, for related early-universe models, and for research, with each receiving the full $3 million unrestricted award. Concurrently, Milner introduced the $100,000 in Physics Prize to honor up to three early-career researchers demonstrating exceptional promise. Milner, drawing from his physics background, positioned the prize as a means to elevate the visibility of and attract top talent, stating it would "celebrate and reward great minds working on the deepest mysteries of the ." The initiative's creation reflected Milner's view that fundamental science underpins technological progress, with the substantial awards intended to counter the field's funding challenges and inspire younger scientists; he hoped it would encourage more individuals to pursue physics careers amid perceptions of limited practical rewards. Co-founded with his wife Julia Milner from the outset, the prize later expanded in 2013 to include Life Sciences categories through partnerships with , , , and , formalizing the Breakthrough Prize as a multidisciplinary effort while retaining Milner's foundational role in physics. A Mathematics category followed in 2015, broadening the scope to core areas of .

Breakthrough Initiatives for Space and Fundamental Science

The , launched by Yuri and Julia Milner in July , comprise a series of privately funded programs dedicated to exploring and developing technologies for interstellar , with an initial commitment exceeding $200 million. These efforts aim to address fundamental questions about the universe's habitability and the feasibility of human expansion beyond the Solar System, leveraging advanced observational and technologies. The programs emphasize empirical and prototypes over speculative theory, partnering with institutions like the , and international observatories. A cornerstone is , a $100 million, decade-long (SETI) announced on July 20, , in collaboration with physicist . It utilizes the in and the in to scan one million nearby stars and 100 galaxies for technosignatures, such as narrowband radio signals or pulses, over a petabyte of data annually with high-resolution spectrometers developed at Berkeley. As of 2025, no confirmed detections have occurred, though the project has released public datasets and advanced instrumentation for anomaly detection, reinvigorating SETI after decades of limited funding. Breakthrough Starshot, initiated in April 2016 with another $100 million allocation, seeks to demonstrate proof-of-concept for light-sail propelled nanocrafts capable of reaching Alpha Centauri—4.37 light-years away—in about 20 years at 20% the . The plan involves launching gram-scale probes equipped with cameras and sensors, accelerated by a ground-based array delivering petawatts of power to ultra-thin . Backed by advisers including Hawking and , early phases funded prototype sail materials and beam control tests, but by 2025, the project faced setbacks including technical hurdles in scaling, regulatory challenges for the array, and waning momentum, leading to a reported quiet scaling-back despite initial ambitions for a full mission costing billions. Complementary efforts include Breakthrough Watch, which employs telescopes like the to directly image Earth-like exoplanets in habitable zones for biosignatures, and Breakthrough Message, a contest soliciting encoded signals for potential transmission to extraterrestrial recipients, though the latter remains conceptual. These initiatives prioritize verifiable technological milestones, such as sail deployment tests and algorithms, over unproven hypotheses, while openly acknowledging the low probabilities of success—estimated at under 1% for Starshot's full realization—yet justifying investment through spillover innovations in and .

Humanitarian Responses to Crises Including COVID-19 and Ukraine Invasion

In response to the COVID-19 pandemic, the Milner Foundation, co-founded by Yuri and Julia Milner, donated $3 million on March 25, 2020, to support Israeli institutions combating the virus. This funding was allocated to Tel Aviv University for research into diagnostics and treatments, Magen David Adom for emergency medical supplies and personnel, and Ichilov Medical Center at Tel Aviv Sourasky Medical Center for expanding intensive care capacity and acquiring protective equipment. The donation aimed to address immediate shortages in testing, ventilation, and frontline response amid Israel's early outbreak phase. Following Russia's of on February 24, 2022, the Milner Foundation provided $3 million in emergency aid on March 8, 2022, to the Conference of European Rabbis to assist Jewish fleeing the conflict. This support facilitated evacuation, temporary housing, food distribution, and medical care for thousands escaping violence in 's third week of war. Separately, Yuri and Julia Milner committed $100 million in 2022 to launch Tech for Refugees, a tech-driven initiative partnering with organizations like the to aid Ukrainian through digital tools for job matching, education, and integration. The Foundation, co-founded by Milner, issued a statement condemning the as "unprovoked and brutal" and pledged ongoing support for affected scientists, though humanitarian focus remained on welfare. These efforts aligned with Milner's prior renunciation of Russian citizenship in 2022, following his family's departure from in 2014.

Broader Commitments like the Giving Pledge and Eureka Manifesto

In 2012, Yuri Milner and his wife Julia signed , a commitment initiated by , , and encouraging the world's wealthiest individuals to dedicate the majority of their wealth to during their lifetimes or in their wills. Their pledge letter highlighted a focus on addressing fundamental challenges through science and education, noting the creation of the Fundamental Physics Prize as an example of directing resources toward advancing human understanding of the universe's deep structure. This aligns with Milner's stated intent to prioritize investments in problem-solving initiatives over traditional charitable giving, emphasizing empirical progress in scientific fields. Complementing , Milner authored the Eureka : The Mission for Our Civilization in 2021, a concise presenting a philosophical framework for humanity's collective purpose. The posits that humanity's survival and thriving depend on adopting a shared mission rooted in exploration, positioning advancement as a unifying force to overcome global crises such as geopolitical conflicts, environmental threats, and technological risks. Milner argues that recognizing our species' nascent stage in cosmic —evidenced by the absence of detected extraterrestrial civilizations—necessitates prioritizing discovery and expansion beyond , with serving as the "universal " for international collaboration. Available for free download, the text draws on Milner's background in physics and to advocate for reallocating resources toward fundamental and interstellar ambitions, framing inaction as a path to stagnation or . These commitments reflect Milner's broader emphasis on long-term human progress over short-term relief, integrating personal wealth dedication with a civilizational-scale vision that critiques fragmented national priorities in favor of evidence-based global unity. While provides a binding philanthropic structure, the Eureka Manifesto serves as an intellectual call to action, influencing Milner's initiatives like the Breakthrough Prize by underscoring science's role in averting existential vulnerabilities.

Personal Life

Family, Residence, and Intellectual Pursuits

Yuri Milner was born into a family of intellectuals; his father, Boris Milner, was a professor specializing in American management practices. In 2004, he married Julia Bochkova, a former high-fashion model and contemporary . The couple has three daughters, with births occurring in and the . In 2014, Milner relocated his family to , where their third daughter was born; the entire family, including his mother, now resides there. His primary residence is a 25,545-square-foot French chateau-style mansion in , purchased for $100 million in March 2011—one of the highest-priced home sales in at the time. The estate spans approximately 17 acres overlooking the and features amenities including a , game room, and maid's quarters. Milner's intellectual pursuits are rooted in ; he earned an advanced degree from in 1985 and subsequently conducted research in . This background informs his ongoing passion for fundamental science, manifested through philanthropic initiatives supporting advancements in physics, life sciences, and cosmology.

Assets, Citizenship Changes, and Public Stance on

Yuri Milner's primary assets stem from his founding and leadership of , a firm focused on late-stage internet investments, which has backed companies including , (now X), and , generating substantial returns. His estimated stands at approximately $6.9 billion as of September 2025, largely tied to these holdings. Additional personal assets include a named Andromeda and such as a $70 million penthouse in acquired through an entity under his control in 2023. Milner resides in the , reflecting his long-term base in since relocating there in the early 2010s. Born in the , Milner acquired Israeli citizenship after emigrating there in the 1990s and has held it since. He departed permanently in 2014 following the annexation of , citing a desire to distance himself from the geopolitical shifts under . In August 2022, amid 's full-scale invasion of , Milner and his family completed the formal renunciation of their Russian citizenship, a process he announced publicly that October, emphasizing his prior exit from the country and rejection of ongoing ties. This move aligned with actions by other Russian-origin billionaires seeking to sever formal connections to amid and scrutiny. On geopolitics, Milner has publicly condemned Russia's 2022 invasion of as a "heartbreaking tragedy," with his companies issuing statements denouncing the war and halting operations in . He has distanced himself from Putin, transitioning from earlier caution to explicit criticism, including calls for an end to the conflict. Despite historical funding links between and Russian state entities like Vnesheconombank in the 2010s—which facilitated early deals but were disclosed at the time—Milner has maintained no ongoing political affiliations with the , framing his renunciation and stances as a clean break from his birthplace's actions. His commentary remains focused on the Ukraine war, with no prominent public positions on other global issues like U.S.- tensions or conflicts noted.

Recognition and Legacy

Awards and Honors

Yuri Milner has received recognition primarily for his success as a venture capitalist and philanthropist through inclusions in prominent industry rankings and lists. He has been featured multiple times on Forbes' Midas List, which ranks top technology investors based on successful exits and deal-making prowess. In 2011, he ranked 25th; in 2013, 53rd; in 2016, 17th; in 2017, 15th; and in 2018, 52nd. Other honors include his selection for TIME magazine's 2016 list of the 100 Most Influential People, with an entry written by physicist Stephen Hawking praising Milner's investments in scientific initiatives. In 2017, Fortune named him among the World's 50 Greatest Leaders, highlighting his role in funding transformative technologies and science prizes. Earlier, in 2011, Fast Company ranked him third on its list of the 100 Most Creative People in Business for pioneering investments in social media platforms like Facebook. Milner has also appeared on Vanity Fair's New Establishment List (#23 in 2011, #25 in 2014, #23 in 2015) and Wired's Wired 100 (#13 in 2015, #20 in 2016), reflecting his influence in tech and media ecosystems. In , he was named of the Year and Russian GQ's Man of the Year in 2011, alongside topping Russian ' Owners of list that year. These recognitions underscore his impact on global tech investments rather than traditional academic or state honors, with no documented receipt of formal prizes like Nobel equivalents or governmental medals.

Overall Impact, Achievements, and Criticisms

Yuri Milner's investments through generated substantial returns, including a 2009 stake in valued at over $1 billion by 2012 and early bets on companies like , , and Alibaba that propelled his net worth to approximately $6.2 billion as of 2023. These successes established him as a pivotal figure in bridging Russian capital with innovation, influencing the global tech landscape by accelerating the growth of and internet platforms. His approach emphasized high-conviction, concentrated bets on transformative technologies, yielding outsized impacts on digital connectivity and data economies. In philanthropy, Milner has channeled hundreds of millions into , most notably co-founding the Breakthrough Prize in 2012, which has awarded over $326 million to laureates in fundamental physics, life sciences, and mathematics by 2025, often exceeding amounts at $3 million per winner. This initiative, supported by figures like and , has elevated scientific recognition through high-profile ceremonies akin to entertainment awards, fostering greater public engagement with research and inspiring early-career scientists via programs like the $100,000 New Horizons Prizes. Complementary efforts, such as the $100 million for searches launched in 2015 and the $100 million Starshot project in 2016 for interstellar probes, have advanced astrobiology and propulsion technologies, drawing collaborations from institutions like the and SETI. Milner's 2013 commitment to , alongside his wife Julia, has extended to targeted , including $100 million for refugee tech initiatives in 2016, $5 million to Israel's Jewish Agency for terror victims in 2023, and $10 million to Israeli groups following the October 2023 attacks. These efforts underscore a data-driven model prioritizing measurable outcomes in , crisis response, and scientific progress, with additional impacts like full-tuition Wharton scholarships for Israeli students funded by a $10 million gift. His work has been recognized on ' for venture investing prowess and praised for democratizing science's cultural stature. Criticisms of Milner center on his early career ties to Russian state entities, including funding from —a -controlled —for DST Global's U.S. tech investments, as revealed in the 2017 , raising questions about potential foreign influence on platforms like and amid U.S. election interference probes. Milner has maintained these were apolitical commercial decisions, with no evidence of directives over his portfolio choices, though outlets like highlighted the optics of such connections given his proximity to via advisory roles until 2022. In response to Russia's 2022 invasion of , Milner renounced his Russian citizenship in October 2022, an action viewed by associates as severing long-standing affiliations amid geopolitical scrutiny. Some scientific observers have questioned whether the Breakthrough Prizes prioritize spectacle over substantive advancement, dubbing them informal "Nobels 2.0," though Milner counters that their scale incentivizes bold research without bureaucratic delays.

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