Billionaire Usmanov Takes $100 Million Stake in Apple

Tuesday, 30 Apr 2013 | 8:52 AM ET
Russian Oligarch Alisher Usmanov
Oli Scarff | Getty Images
Russian Oligarch Alisher Usmanov

Billionaire Alisher Usmanov, who is the richest man in Russia and Britain, has bought a $100 million stake in Apple.

Usmanov, who is the world's 34th richest man according to Forbes magazine, has made some astute bets in the past. His Digital Sky Technologies (DST) made an early bet on Facebook and its young founder Mark Zuckerberg. DST went on to pocket $1.3 billion on that investment following Facebook's IPO in 2012.

Usmanov's bet on Apple follows a 40 percent decline in the company's shares on worries about slowing growth and the lack of another breakthrough product.

Usmanov is worth 13.3 billion pounds ($19.95 billion), making him the U.K.'s richest man, according to the recently released Sunday Times Rich List.

  Price   Change %Change
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.