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Oligarch Starts New Year's With a Bang

Oct. 27 2008, Published 7:07 a.m. ET

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B.Y.O.HO Byblos, Prokhorov (inset) Mark your calendars for Saturday night! On January 13, Russians celebrate the grand finale of "Old New Years," the culmination of a fortnight of winter bacchanalia that kicked off on January 1. How did your average oligarch celebrate? By raising a tumbler of vodka to 2007 in an Icelandic "ice castle" with Mariah Carey, Justin Timberlake, and Whitney Houston, of course.

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And then there's Mikhail Prokhorov—the 89th richest man in the world—who decided to ring in the Old New Year at the Hotel Byblos in Courcheval the old-fashioned way: with 16 fresh-faced consorts. The ballsy move led to a prostitution raid on the tony lodge this week.

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