Russian Billionaire Who Criticized Putin Forced To Sell Company Shares: 'Kremlin Will Kill Me'

KEY POINTS

Oleg Y. Tinkov said Kremlin did not allow him to negotiate the price of selling his shares
He said he received warnings from his friends who had contacts in Russia's security service
Tinkov said a warning was issued to the senior executives of the Tinkoff Bank a day after his post

A Russian billionaire who previously criticized President Vladimir Putin and the war in Ukraine has been forced by Kremlin to sell his company shares, according to a report.

Oleg Y. Tinkov, the founder of TCS Group Holding and the digital Tinkoff Bank, had a net worth of $9 billion in November. His net worth has now fallen to $8.23 billion after Kremlin forced him to sell his 35% stake to Russian mining billionaire Vladimir Potanin, who is close to Putin. Moreover, he was not allowed to negotiate the price of the sale, The New York Times reported.

“It was like a hostage — you take what you are offered,” Tinkov told the newspaper during a phone interview Sunday.

The Russian billionaire added that he had hired bodyguards following warnings from his friends, who had contacts in the country’s security service.

“The Kremlin will kill me,” he said.

Tinkov added that many of his business acquaintances and government contacts told him privately that they agree with his comments on the war. However, they “are all afraid” of the potential consequences if they dare cross Putin.

Tinkov had called out Putin and slammed Russia’s invasion of Ukraine in an Instagram post in mid-April.

"I do not see ONE beneficiary of this insane war!" Tinkov wrote in Russian on Instagram. "Innocent people and soldiers are dying. The generals woke up from a hangover, realized they had a sh---y army."

"Dear 'collective West' please give Mr. Putin a clear exit to save his face and stop this massacre," he added.

A post shared by instagram

Tinkov said Kremlin called the senior executives of the Tinkoff Bank a day after he published his Instagram post. The executives, Tinkov said, were warned that any association with their founder was a major problem.

Tinkov is one of the few Russian elites who has spoken out against the invasion of Ukraine. In February, Alfa Bank founder Mikhail Fridman published a letter to staff where he said he was convinced that war “can never be the answer” and called for the end of the “bloodshed.”

Oleg Deripaska, a metal mogul, also took to Telegram to call for negotiations between the Ukrainians and Russians.