Russian billionaire Mikhail Prokhorov announced Monday he would contest the presidential elections next March.

Russian billionaire Mikhail Prokhorov. (Photo: Internet)
"I made probably the most serious decision in my life. I will run for president," Prokhorov told a news conference here.

The 46-year-old businessman said he would start collecting signatures and register for the election soon.

He also admitted his bid for presidency would unlikely receive popular support "for at least the next 10 or 15 years."

Under Russian law, a candidate must submit at least 2 million voters' signatures to be registered as a presidential candidate.

As the reportedly third richest man in Russia, Prokhorov is a leading industrialist in the precious metals sector. He is also an ex-leader of the Right Cause party, which attracted only 0.59 percent of the votes in the parliamentary elections on Dec 4.

So far, Russian Prime Minister Vladimir Putin, who is also the leader of the ruling United Russia party, and Sergei Mironov, leader of the center-left A Just Russia party, have been officially nominated by their parties as presidential candidates.

VietNamNet/Xinhuanet