9 months ago
Russian Billionaire Loses $9 Billion After Criticizing Ukraine War
Oleg Tinkov is a rich businessman from Russia who used to own a big bank called Tinkoff Bank.
In 2022, he wrote a post on Instagram saying that the war in Ukraine was bad and that the Russian military was not ready.
After this post, people connected to the Russian government told him to sell his part of the bank for a very low price.
He had to do it or he would lose everything.
He sold his part for much less than it was worth and lost $9 billion.
After that, he left Russia and gave up his Russian citizenship.
He said he did this because he didn't want to be part of a country that was doing bad things.
Oleg Tinkov, founder of Tinkoff Bank, lost $9 billion after criticizing the Ukraine war on Instagram.
He was pressured by Kremlin-linked officials to sell his 35% stake in the bank at a fraction of its value.
Tinkov described the situation as 'hostage-like' and was forced to accept the offer or lose everything.
He sold his stake for 3% of its real value to a company linked to Russia's richest men.
After the sale, Tinkov left Russia, renounced his citizenship, and has been living abroad.
- Who
- Oleg Tinkov, former Russian banking magnate and founder of Tinkoff Bank
- What
- Lost $9 billion after criticizing Ukraine war on Instagram
- Where
- Russia
- When
- April 2022
- Why
- Criticized the war and Russian military, leading to pressure from Kremlin-linked officials
Oleg Tinkov
Kremlin-linked officials
Instagram Post
Oleg Tinkov
Criticized the war and Russian military, claiming most Russians oppose the conflict.
Kremlin-linked officials
Viewed the post as a threat to national unity and government policy.
Sale of Stake
Oleg Tinkov
Felt coerced into selling his stake at a fraction of its value, describing it as a 'hostage-like' situation.
Kremlin-linked officials
Insisted on the sale as a necessary measure to maintain control over the bank and its operations.
Key facts
- Name
- Oleg Tinkov
- Occupation
- Former banking magnate and founder of Tinkoff Bank
- Amount Lost
- $9 billion (Rs 80,915 crore)
- Reason for Loss
- Criticizing Ukraine war on Instagram
- Stake Sold
- 35% in Tinkoff Bank
- Sale Price
- 3% of real value
- Current Status
- Renounced Russian citizenship, lives abroad
Quotes
Oleg Tinkov
Former Russian banking tycoon and founder of Tinkoff Bank
“I do not see ONE beneficiary of this insane war! Innocent people and soldiers are dying. The generals woke up from a hangover, realised they had a sh---y army.”
livemint.com
“I couldn't discuss the price. It was like a hostage - you take what you are offered. I couldn't negotiate.”
livemint.com
Sources
‘I was like a hostage’: Russian billionaire says a Instagram post on Ukraine war cost him $9 billion
Russian Billionaire Says He Lost Rs 80,915 Crore After Criticising Ukraine War: "I Was Like A Hostage"
An Instagram post cost this Russian banking tycoon $9 billion and his citizenship
Who is Oleg Tinkov? Ex-Russian billionaire claims he lost $9 billion in a day for an Instagram post
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