Mikhail Prokhorov was born in Moscow on May 3, 1965. His father worked as Head of the International Relations Department of the Soviet State Sports Committee; his mother did scientific research work at the Moscow Chemical Materials Institute. Mikhail has an elder sister, Irina.
Upon completion of secondary education with a focus on English studies, Mikhail studied at the Moscow Finance Institute (currently known as the Finance Academy under the RF Government), from which he graduated magna cum laude.
Mikhail's family instilled in him a strong work ethic and a great love of learning and sports training, which would serve him well in his professional endeavors.
Mikhail Prokhorov leads an active lifestyle, and takes an interest in kickboxing, track athletics and skiing.