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Russian tycoon Mikhail Prokhorov, who announced Monday that he would challenge Prime Minister Vladimir Putin's bid for the presidency, is one of Russia's richest men and the principal owner of the National Basketball Association's New Jersey Nets.

Standing 203 centimeters tall, the 46-year-old multi-billionaire earned his money in banking and metals His website says Prokhorov has "enjoyed great success on a global scale in his financial and natural resources business ventures."

Prokhorov acquired NBA's New Jersey Nets in 2010.

In Forbes magazine's 2011 list of the world's richest billionaires, the bachelor ranked at number 32 with an estimated worth of $18 billion.

In 1989, Prokhorov graduated magna cum laude from the Moscow Finance Institute.

The Russian presidential election is scheduled for March 2012.