Milner was born into a family that was closely tied to the scientific community of Moscow. His father, Bentsion, worked as a senior director for the Russian Academy of Science. His mother, Betty, was also a state-employed scientist. Thus, it is no coincidence that Milner’s first attempt at a career was in this field, and he graduated with a degree in Theoretical Physics from the Russian Academy of Sciences. However, his affinity with the natural sciences did not last long, and he soon moved to the U.S. to pursue a career in business.

Shortly after receiving his BSc in Theoretical Physics from Moscow State University in 1985, Milner began studying for his MBA at the University of Pennsylvania‘s Wharton School of Business; however, he did not finish his final year. He began his professional career working for the World Bank in Washington and, in 1995, moved to Menetap Bank. He continued climbing the ranks and in 1997 was appointed as its Deputy Chairman. Milner became inspired to begin investing individually in online businesses, believing their imminent growth would bring him fortune. Following a few successful investments, in 2005, Milner founded the investment fund Digital Sky Technologies (DST), aiming to focus exclusively on internet and technology companies. 

DST has since invested in a wide variety of companies. with Facebook, WhatsApp, and Twitter being amongst its most famous stakes. Milner’s holdings of stocks in a few very high-profile companies brought him a personal fortune of USD$3.1 billion, and he skyrocketed in the American financial market. He says the secret of his investment success is “simply about meeting the right person, which involves being everywhere all the time”.