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Russian Billionaire Prokhorov Voted Head of Political Party

Russian billionaire Mikhail Prokhorov was elected chairman of the Pravoye Delo political party as the pro-democracy movement seeks to challenge Prime Minister Vladimir Putin’s United Russia in this year’s election.

“We have to become a normal, transparent and efficient party of power,” Prokhorov, Russia’s third-richest man, told reporters and party delegates in Moscow today. Prokhorov said he expected Pravoye Delo, or Right Cause, to come second in parliamentary elections scheduled for December, he said.