Russian Billionaires Reshape Their Fortunes While They Can
- As authorities block yachts, sanctioned Russians shift assets
- They’ve also resigned from boards in the wake of Ukraine war
Source: Bloomberg
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In the dark of night on March 4, Italian police in the Ligurian port of Imperia encircled a 215-foot superyacht belonging to Russia’s fourth-richest person, Alexey Mordashov.
The European Union had sanctioned the billionaire on Feb. 28, days after Russia’s invasion of Ukraine. His extensive holdings in Europe -- including “Lady M,” with its swimming pool and beauty salon -- were seemingly frozen by authorities.