Yachts belonging to them have been seized. Private jets, Italian houses, and more are being sought after. Their money is dwindling by the day. It’s been a dreadful week for Russian millionaires in every way imaginable.
The incidents I’m going to relate could have easily been their own 1,000-word posts in any other week. In light of the recent spate of bizarre events involving Russian millionaires, it seemed appropriate to compile a roundup of the most noteworthy stories.
To begin, here’s a huge number:
A Staggering $130 Trillion
In the last two weeks, the combined wealth of Russia’s 20 richest residents has been reduced by that much.
Vladimir Potanin is a Russian physicist. Vladimir Potanin, Russia’s richest man, has seen his fortune fall from $31 billion to $23 billion since February 16. In the metal industry, Potanin made his first wealth, which he then expanded into the banking industry. For the time being, his three yachts and private jet are unrestricted in the United States and Europe.
Even so, he has made concessions. He announced his resignation from the Guggenheim Museum’s Board of Trustees on Wednesday, ending a 20-year term.
Theodore Vagit Alekperov
Vagit Alekperov, CEO of LUKOIL, had a net worth of $21 billion just two weeks ago, making him one of Russia’s five richest persons. Oil giant LUKOIL is Russia’s largest privately-owned oil corporation. Rosneft, Russia’s largest oil firm, is owned by the government. Igor Sechin, CEO of Rosneft, will be discussed further in a moment.
LUKOIL’s stock price has dropped 92 percent in the last two weeks, from $90 a share on February 16 to $7 on Friday. Vagit’s net worth has fallen from $21 billion to $3 billion in less than ten working days as a result of this decline. As a result of the anguish, LUKOIL’s board of directors issued a statement on Saturday morning asking for an end to the conflict in Ukraine. Just days ago, this would have been completely out of the realm of possibility for Vladimir Putin.
Igor Sechin is the man in charge.
He is the CEO of Russia’s largest oil producer, Rosneft, which is state-owned. Authorities in France confiscated Igor’s yacht, “Amore Vero,” from a shipyard in Marseille on Friday. Despite the fact that Igor’s yacht had been in the shipyard since early January and was not expected to be finished with repairs for another month, it appears that he had grown concerned about sanctions and ordered his staff to prepare the boat for departure nevertheless. This week, officials in France approached the ship’s skipper and he nonchalantly said, “I’ve just been given orders to depart right now,” and a day later the vessel was chained up with steel casings.
The Russian flag has been hoisted on the Marshal Rokossovsky ferry. It is the first in Russia Arc4 ice class dual-fuelled ferry https://t.co/2Ytn1clUft pic.twitter.com/HaIprj1uLl
— President of Russia (@KremlinRussia_E) March 4, 2022
Mordashov Alexey
Two weeks ago, industrialist Alexei Mordashov had a net worth of about $29 billion. He’s been Russia’s richest man at various points in time. His fortune had risen to $21 billion as of Friday’s close of business. Finally, Alexei lost control of his beloved boat “Lady M” after the close of business on Friday.
The 215-foot boat was confiscated by financial police as it sat in a dock in the town of Imperia on Saturday morning. Lady M’s stern is flanked by an Italian Finance Police car (AP Photo/Getty Images/Andrea BERNARDI). Alexei’s anguish may not be confined to the loss of his yacht.
Moreover, according to media reports, Italian authorities are preparing paperwork to take his $72 million villa on the coast of Sardinia, an Italian island. Villa seizures require far less urgency from the police because they can’t really sail away.
Yury Borisov
On Friday, the Italian financial police were very active in Imperia. Gennady Timchenko’s yacht was also seized soon after Alexei’s yacht was taken over by the pirates.
Gennady is said to be one of Vladimir Putin’s closest confidantes, and he has been subject to US sanctions since 2014. Sanctions imposed by the European Union against him have recently been lifted. When it comes to things that have fallen from the sky, Two weeks ago, the estimated net worth of Gennady Timchenko was $22.5 billion. Since then, the value has fallen to $10 billion.
The President held a meeting with permanent members of the Security Council https://t.co/eiEUOcKheR pic.twitter.com/KadEz2gGUO
— President of Russia (@KremlinRussia_E) March 4, 2022
Other Russian Billionaires Are Also Feeling The Pinch Right Now, Including The Following:
Roman Abramovich: Roman is apparently trying to sell some of his European and American properties as rapidly as possible, despite the fact that he is not yet sanctioned in the United States or the European Union. For example, his $150 million London property and Chelsea Football Club. In recent weeks, Roman’s net worth has fallen from $19 billion to $14 billion.
Mr. Mikhelson has been known as Russia’s wealthiest man on several occasions. As of this writing, Novatek’s chief executive officer is worth $11 billion less than he was only two weeks ago.
According to reports, Alisher Usmanov had his $800 million yacht confiscated by German officials earlier in the week in Hamburg. Usmanov’s attorneys ultimately refuted that report. An official with the city of Hamburg said to Reuters on Saturday that “the yacht’s owner has been notified that it will not be delivered.” However, the official did not elaborate.
In all honesty, I’m not going to continue on for another thousand words. I could probably write another post like this every day for the next month because of all the strange things that are happening.
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