Yuri Milner is sitting on a 10-figure return on Xiaomi Corp., even after the phone maker’s epic decline since its initial public offering last year.
Milner’s Apoletto funds and his investors hold stakes in Xiaomi worth $1.8 billion, according to the Bloomberg Billionaires Index. The investor, who has dual Russian and Israeli citizenship, acquired the positions for about $457 million over multiple funding rounds prior to the July IPO, Xiaomi’s prospectus shows.
