As Billy King prepares to spend more of Mikhail Prokhorov's money (Bruce Ratner's too), Prokhorov is offering advice on money matters to Bloomberg News. Asked what to do with a million dollars, Prokhorov answered, "spend it with pleasure". We assume that means Billy should be happy with his investments, whoever they are.

A lot of the other advice was tuned to the safest investment ("As a large chunk of my wealth is in Polyus Gold, a bar of gold, of course!"), best business advice ("Keep your back straight and don’t fidget") and who he would trust with his entire portfolio ("His name is Mikhail. I sign every check myself.") Good information for agents to know, that last one.

He wasn't asked about the Nets as an investment but when Bloomberg wanted to know about his worst investment, he replied, "I hope my worst investment is yet to come". Whew.

• Billionaire Prokhorov Touts Gold For Perplexing Times - Matthew G. Miller & Peter Newcomb - Bloomberg News