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BACKLASH Billionaire to Challenge Putin AP Photo

Billionaire to Challenge Putin

Vladimir Putin’s troubles are stacking up. As protests rage against allegedly flawed elections that saw his party narrowly cling to power, Russia’s prime minister will now be facing off against one of the richest men in the nation for the presidency. Mikhail Prokhorov, the billionaire tycoon who owns the New Jersey Nets, announced Monday that he will run for the job. “The society is waking up,” Prokhorov said at a news conference, saying he agrees with the anti-Putin demonstrations that have been gripping Moscow. Meanwhile, Putin's party United Russia held a rally in Moscow that few attended—and some were forced to attend.

December 12, 2011 8:15 PM