Russian Billionaire Bets $100 Million on an Apple Comeback


Russian billionaire Alisher Usmanov sees an opportunity in Apple's stock price freefall over the few months and is betting $100 million that the company will turn things around.

"I believe in the future of this company even after Steve Jobs," Usmanov told Bloomberg. "When the company lost $100 billion of its market value, it was a good time to buy its shares, as the capitalization should rebound." Usmanov's brash bets have paid off in the past — he made a 10-fold return on investment on Facebook. Usmanov didn't make his estimated $19.8 billion via tech, but rather through mining and lumber operations and investments. Read more...

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