WIPEOUT

Oligarch Who Criticized Putin Says He’s Been Forced to ‘Sell Everything,’ Fears for His Life

Oleg Tinkov openly criticized the Russian president—and has been warned his life may now be in danger.

A Russian banking oligarch who openly criticized Vladimir Putin’s invasion of Ukraine says he has been forced to sell his assets and beef up his security detail after being warned he could be in physical danger. Oleg Tinkov, the founder of one of Russia’s largest banks and holder of what had been estimated as a $9 billion fortune, told The New York Times that he was forced to sell his assets in a “desperate sale, a fire sale” orchestrated by the Kremlin at what he said was 3 percent of its actual value. “I couldn’t discuss the price. It was like a hostage—you take what you are offered. I couldn’t negotiate,” he told the Times. Tinkov, who settled a tax-fraud charge with the IRS for $507 million last year, also said he had been warned that his life is also in danger. The former billionaire, who survived leukemia, said he was concerned that now “the Kremlin will kill me.” Shortly after the invasion of Ukraine, Tinkov called the move “crazy” in a rant on Instagram.