 In 2012, Igor Krutoy became the chairman of Music1.ru and a shareholder of Net Element following a $2 million investment into the company.The joint venture culminated with the launch of www.Music1.ru, expected to become the online centerpiece of Krutoy's music enterprise and the online music market leader in the Commonwealth of Independent States (CIS) countries.Igor Krutoy's father Yakov Krutoy (1917–1980) is Jewish.