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Billionaire Usmanov Bets on Apple’s Growth After Facebook

Alisher Usmanov, the Russian billionaire who made a more than 10-fold return from his investment in Facebook Inc., said he recently spent about $100 million buying Apple Inc. shares in anticipation they will rise.

“I believe in the future of this company even after Steve Jobs,” Usmanov, 59, said in an interview at Bloomberg’s Moscow offices, referring to Apple’s late co-founder. “When the company lost $100 billion of its market value, it was a good time to buy its shares, as the capitalization should rebound.”