Prokhorov to Build Political Party Faster After Election Loss

Russian billionaire Mikhail Prokhorov pledged to speed up the formation of a middle-class political party in Russia after coming third in the country’s presidential elections.

“In the current political system, when the government is de facto a Kremlin affiliate, I am not interested in working in state bodies,” Prokhorov told state television Rossiya 24 last night. “I have a different goal now, to build a new political party.”

Prokhorov, whose fortune was valued at $18 billion by Forbes last year, received about 7.8 percent of the votes in the Russian presidential election yesterday, according to preliminary data by the Central Election Commission. The billionaire investor in Russian gold and aluminum producers came in third after Prime Minister Vladimir Putin, who won almost 64 percent of the vote with more than 99 percent of ballots counted, and Communist Gennady Zyuganov.

To contact the reporters on this story: Natalia Byrkina in Moscow at nbyrkina@bloomberg.net; Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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