The Unexpected Stock Market Secret of Mikhail Gorbachev.
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Mikhail Gorbachev, the last leader of the Soviet Union, bought stocks even though he believed in communism. His grandson, Alexei Sviblov, told reporters that Gorbachev bought almost a million shares of Apple in 1987.
Sviblov said Gorbachev asked him to buy something for him after a trip to Bulgaria. He gave Sviblov a piece of paper with a drawing of an apple on it, saying it would bring luck.
Sviblov thought Gorbachev was crazy but bought the shares for him while on a work trip to Turkey. The brokers laughed at him but sold him the shares for 200 Soviet rubles.
Apple was close to failing at the time, so the shares were very cheap. Gorbachev was able to buy so many because he was paid like a simple animal scientist.
The next year, Apple recovered and its stock price tripled. After the Soviet Union collapsed, the price of Apple stock increased thousands of times more.
Questions
Who was Mikhail Gorbachev?
Mikhail Gorbachev was the last leader of the Soviet Union.
What did Gorbachev ask his grandson to buy for him?
Gorbachev asked his grandson to buy almost a million shares of Apple.
What happened to Apple's stock price after the Soviet Union collapsed?
After the Soviet Union collapsed, the price of Apple stock increased thousands of times more.
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