Russian Kiril Shamalov becomes world's youngest billionaire

Advertisement - Continue Reading Below

Russian entrepreneur Kirill Shamalov turned 34 last week and is now one of the world's youngest billionaires. Shamalov, a former economic expert of the Russian government, is wed to President Vladimir Putin's daughter, Katerina Tikhonova. The son of Rossiya Bank investor Nikolai Shamalov, a longtime good friend of Putin, Kirill is now the second-largest investor in the petrochemical giant Sibur, which is said to amount to $2.85 billion. Sibur obtained a boost in December, 2015 when Chinese state-owned Sinopec purchased 10 % of the company for $1.3 billion.

Shamalov’s rise to wealth shows how those who are connected closely to Putin have been given important positions in major companies in Russia. It is not a secret that these favored people receive incredible loans from Gazprombank and the details of such loans are kept away from scrutiny.

The wedding of Kirill and Katerina took place in February, 2013 at Igora, a ski hotel snuggled in the hills an hour's drive north of St. Petersburg. No expenditure was spared as well as every person attending was guaranteed privacy. After the ceremony, the couple rode in a Russian sleigh pulled by three white steeds. The hotel is co-owned by the family of Yuri Kovalchuk, an old and good friend of Putin, as well as a Cyprus company. Both Kirill Shamalov and his wife Katerina Tikhonova hold considerable business holdings worth approximately $2 billion and also own a multi-million dollar villa in France.

Advertisement - Continue Reading Below

Most Popular

  • Three independent candidates for US President

    The U.S. elections feature the two major political parties: the Democratic Party and the Republican Party. Besides these two, there are other parties dubbed “Third Parties” due to their minority standing. Independent candidates are those who run for president without any formal…

  • Scots Angry over Trump’s View of Brexit

  • What is Trump's stance on combating terrorism?

Most Viewed

  • Revealing Info on How the Clinton's Made Their Money

    On May 17, 2016, the personal financial disclosure of Hillary Clinton revealed that she earned over $5 million in royalties from a 2014 memoir and around $1.5 million for her speeches in 2015. Mrs. Clinton's camp decided to reveal info on how her family made their money to stand in good stead…

  • Trump refuses to act presidential

  • Do Cruz and Kasich have a pact?

From the blog

  • Chris Cantwell Faces Felony Charges re: Charlottesville, VA Rally

    Chris Cantwell, the white supremacist who gained notoriety at the Charlottesville "alt-right" rally is being charged with illegal use of a gas and malicious injury. This is a result of the events that took place in early August, 2017, which turned deadly. That same month, he was granted a…

  • Chinese activist Lu Yuyu receives 4-year sentence for provoking trouble

  • What does Sarah Huckabee say about the DACA decision?

  • Former Illinois Governor Blagojevich sentenced

  • Punta Gorda, Florida is Scene of Deadly Mishap.