(RoyalPatriot.com )- A Russian Oligarch who defied the Kremlin and criticized Putin’s war on Ukraine says he has been forced to sell his holdings and fears for his life.
Oleg Tinkov, 54, says he was forced to sell his stake in the bank he created for pennies after calling the invasion of Ukraine ‘crazy’ and Putin’s army’ shi**y’ on Instagram last month.
His pals in the security agency have informed him that “a decision regarding you has been made.” Tinkov says he is now hiding outside Russia and has hired bodyguards.
He defends his decision to speak out against the war, arguing that many other members of the Russian elite share his views but are ‘afraid’ to speak out.
He said he does not believe in Russia’s future, nor does he want to link his name and company with a country that attacks its neighbors for no cause.
Before February 24, Tinkov was worth $9 billion thanks to a 35% interest in the high-tech bank he started in 2006, Tinkoff.
After the invasion, Western nations imposed sanctions, forcing him to vent his fury on Instagram on April 19.
In his first interview since the post, Mr. Tinkov told the New York Times that vengeance was rapid.
The Kremlin said they would nationalize his bank if he didn’t sell it or if the owner didn’t change the name.
Tinkoff stated two days later that it was renaming itself, a move anticipated for some time. Tinkov claims he was then forced to sell his interests to a business owned by Putin’s confidant and millionaire, Vladimir Potanin.
Mr. Tinkov refused to discuss the price and said it was like a hostage situation and he couldn’t bargain.
He refused to divulge the final amount but said it was only 3% of the stake’s value.
As for Russia, Tinkov says it “has no future” as long as Putin is in charge, which he predicts will be for a “long period.”
He felt Putin’s regime was horrible, but had no idea it would be so disastrous.
Contrary to other Russian billionaires, Tinkov made his money as an entrepreneur and isn’t on a UK list of sanctioned oligarchs.
He said he was one of the few who developed “4 distinct businesses from nothing!”
That he could develop an honest, free, and American business in corrupt and archaic Russia made him proud.
His country’s descent into archaism, paternalism, and servility is a pity. ‘There is no Russia, but Ukraine will triumph over evil.’
Tinkov, the son of a Siberian coal miner, sold beer and dumplings before founding Tinkoff Bank in 2006. He stepped aside as chairman of the board in 2014 after being diagnosed with severe leukemia.
Tinkov’s stock has fallen over 90% since the Ukraine crisis, denying Tinkov his billionaire title. Forbes estimates his net worth at $800 million.
Tinkov said in an interview with the Financial Times that he knows Putin well. After his diagnosis, he realized how fragile life is and called for an end to the conflict.