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As Xiaomi Shares Sink, a Russian Investor Is Still Up $1 Billion

  • Yuri Milner’s funds and investors have quadrupled their money
  • Shares of the phone maker have tumbled 43% since the July IPO
Yuri Milner
Yuri MilnerPhotographer: David Paul Morris/Bloomberg

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.