Oligarch of the Permian period

Over the last 6 years, Russian oligarch Dmitry Rybolovlev has spent from 4 to 5 billion dollars on art, real estate and football club. When the ex-owner of Uralkali ran out of funds, he was asked to leave Monaco.
28.09.2017
Origin source
In Monaco, there is a commotion. The ingenious Russian oligarch Dmitry Rybolovlev entangled the dwarf state with a web of corruption. Prince Albert II (right) in shock and Rybolovlev supposedly not recommended to stay more at his court. In Monaco, the former cardiac surgeon Rybolovlev was accused of having too close ties with the Justice Minister of the principality Philip Narmino, who immediately retired. Rybolovlev was told not to let Prince Albert II, formerly a great friend and patron of the Russian billionaire, go to court. The very scheme of the emergence of a "scandal" in the burnt 800-year-old European state (the gift that it is tiny) makes you burst into tears of emotion:

"The story began with the fact that the famous art dealer Yves Bouvier sold to Dmitry Rybolovlev 40 paintings by Picasso and Modigliani.The cost of the purchase pulled by 2 billion US dollars, which of course raises a lot of questions about the purpose of the whole operation.The acquisition of such assets (by the way, as well as financing football clubs) usually involves very specific tasks, so it's not surprising that some of the dollars were in the pockets of Bouvier.Dmitry Rybolovlev with such a strange decision did not agree, and filed in early 2015, the fate the first lawsuit against Bouvier in Monaco. But this billionaire was not enough, and soon became a civil action in the present criminal case.

Yves Bouvier was arrested, and he managed to get out of prison only after making a pledge of 10 million euros. On how and why Bouvier was arrested, the French Le Monde recently told. According to the newspaper, the reason for the arrest were frank admission of Tanya Rappo - the translator of Rybolovlev, who provided the connection between the oligarch and the art dealer. Rappo frankly told Rybolovlev how the Bouvier schemes were arranged during the dinner conversation, while his lawyer Tatiana Bersheda secretly recorded this story on the phone.

The card with the record was presented to the court as evidence, which became the basis for the charge and subsequent arrest of Yves Bouvier. But then the situation got out of control. The judge suddenly decided to get acquainted with the contents of the entire phone and gave the order to decipher the records of conversations and SMS-correspondence made on it. This decision proved fatal for the political elite of Monaco. It turned out that Dmitry Rybolovlev ... was on a short leg with all the siloviki of Monaco. In particular, on a permanent connection with the "Fish" was the leadership of the criminal police of Monaco, who provided the support necessary for the arrest of Bouvier. The article by Le Monde also mentions contacts with Regis Aso, chief of the intelligence service of Monaco. As a token of special gratitude for assistance in the arrest of the art dealer in March 2015, Dmitry Rybolovlev presented him with "an excellent samovar." But the most important were the connections of the Russian oligarch with the Minister of Justice of Monaco, Philip Narmino, who provided the political cover for the whole matter. "

Simply put, the case of Rybolovlev versus Bouvier led to his being thrown out of Monaco, and he is now sitting out in Los Angeles. Although before the principality, the Russian oligarch has undoubted merits - in particular, since 2011 he owns a controlling stake in the local football club, has invested in him more than half a billion euros and achieved the first in 17 years of victory in the French pervenst. Why in Monaco so cruelly treated with a pleasant and cash oligarch from the harsh northern Eurasia? The answer is simple: it ceased to be monetary.

What is potassium?

The production of potassium is a typewriter for printing money. Especially if it works on a free infrastructure and hands paid natives in the colonial marks.

Dmitry Rybolovlev, taking advantage of the patronage of a number of local structures and officials, gained control of the potash mines at the Verkhnekamsk deposit of potash and magnesium salts in the vicinity of the city of Berezniki in the Perm region in the late 90s. This deposit was discovered back in 1925, the Communists began industrial development of potassium from the 30s of the last century. In 1983, from the composition of the still "Soviet" "Uralkali" was allocated Solikamsky combine "Silvinit", which nevertheless remained in the production chain of the association.

The main product of this production cluster is potassium chloride. This is a universal and very effective mineral fertilizer. Potassium chloride will be bought always and everywhere, regardless of the price of oil, for gas and "krymnas", because people eat three times a day and they have to grow food for them every year. Potassium potassium market, since the world's most significant producers of this fertilizer can literally be counted on the fingers (besides "Uralkali" there is still "Belaruskali" and a number of manufacturers in North America). The remaining "Uralkali" and "Silvinit" provided to Rybolovlev provided from 20 to 25% of the world production of this type of mineral fertilizers.

Ruthlessly using the infrastructure built by Soviet insects, the effective oligarch turned "Uralkali" into a real pearl in financial terms. Revenues of the company reached more than 3 billion dollars, EBITDA was staggering 65-70%. And why not, if the natives pay a beggarly salary, but on the development of capacities, social needs and environmental protection activities, one can even bolt a bolt? Here are the costs of Uralkali with revenues of $ 3-3.5 billion for environmental activities (half-formal).

But the financial shark spit on the problems of the "Indians." The market value of the company in 2008 reached an impressive 8-odd billion dollars! This attracted the attention of the players of the first league.

In 2010, a former cardiologist in Moscow was strongly advised to sell this asset. The buyers were the sunny Dagestani oligarch Suleiman Kerimov and his two partners - Filaret Galchev and Alexander Nesis. They bought in two sets 63.2% of Uralkali shares (the main deal on 53.2% of shares was held in 2010, the rest of the securities were acquired by Nesis one year later).

The amount of the deal was estimated at 5.3 billion dollars, but the money was paid, most likely less. It is known that the state-owned Russian banks VTB and Sberbank issued loans to Kerimov and his accomplices for a ransom from Rybolovlev's Uralkali, just over $ 3 billion (80% of large oligarchic business in the Russian Federation is credited by state banks, you can not forget this). Another $ 300-400 million was paid for a 20% stake in Silvinit, and in 2011, as much as it was paid for the last package of Dmitry Rybolovlev (10%) in Uralkali.

Further, Uralkali was dragged into financial squabbles, other oligarchs began to gut it and ultimately entangled in debts (mainly to Russian state-owned banks), the company was under the control of representatives of Belarusian President Alexander Lukashenko, the owner of Uralkhim Dmitry Mazepin and the KGB officer of Belarus Dmitry Lobyak.

Rybolovlev and money

In 2010-2011, Rybolovlev received approximately $ 3.5-3.8 billion from the sale of his assets in the Russian Federation. Hardly more. Prior to this, the largest jackpot of the oligarch was $ 1 billion in 2007 following the IPO of Uralkali on the London Stock Exchange. But since 2010, he had lost the source of positive financial flow, and all the activities of the ex-oligarch who moved to Monaco under the roof of Prince Albert II began to resemble a mad financial flood.

For the purchase of paintings, including murky origin and outright forgery, in 2010-2015, Rybolovlev spent more than $ 2 billion (40 works of such masters as Picasso, da Vinci, Modigliani, Claude Monet, Gustav Klimt) were bought. About 500 million euros he invested in the football club Monaco (300 million euros only in 2014-2016). For 9.7% stake in the Bank of Cyprus, Rybolovlev posted 222 million euros. In Monaco, Rybolovlev purchased a part of La Belle Epoque mansion for € 253 million. In 2013, the oligarch spoke for his daughter Catherine for 150 million euros, the Greek islands of Scorpios and Sparti, which belonged to the family of Aristotle Onassis and Jacqueline Kennedy. In 2011, Ekaterina Rybolovleva purchased for 88 million dollars the most expensive apartment in Manhattan, and in 2014 acquired for 56 million euros a hotel complex in Switzerland. Finally, in 2011, Rybolovlev bought for his $ 20 million from the Hollywood actor Will Smith his villa in the Hawaiian Islands. If you add here bought by Rybolovlev a house of Donald Trump in Florida for $ 95 million, then the meaning of the nouveau ricer becomes quite clear.

Take out money from northern Eurasia and invest it in real estate, works of art (no matter what is part of the fake ones) and the football club. The total spending of the potash king in 2010-2015 amounted, only according to open sources, something about 4 billion dollars (including a divorce process worth $ 600 million - even more). As a result, by 2016 free money from Rybolovlev ended trivially. And the oligarch embarked on the fascinating "reverse process" of selling the bought junk and legal litigation with the broker Yves Bouvier, who told the "genius" collection of the Ural genius, earning at least $ 1 billion on it (of course, whoever needs to roll it back).

In early 2016, Rybolovlev with a serious discount, i.е. about 140-150 million dollars sold to the Chinese corporation Fosun its last asset in Russia - the building of "Voentorg" in Moscow. The building, by the way, stood almost two years at the auction and did not want to buy it. In 2016, Rybolovlev expressed a desire to sell expensive apartments in Manhattan. At the end of last year, Rybolovlev began selling his impressive collection of "smears". The sale was at a serious discount to the purchase price, which immediately led to a financial loss of almost $ 100 million.

So the picture of Gauguin "Otaki One" was sold for $ 50 million (Rybolovlev bought it for $ 120 million), Gustav Klimt's painting "Water Snakes II" was sold for $ 170 million (bought for 183 million), Rodin's sculpture "Eternal Spring" was sold at auction for 20.4 million dollars (previously, Rybolovlev paid $ 48.1 million for it).

In early 2017, British media reported that the oligarch put up for sale at the Christie's auction in London five more masterpieces of his collection, including paintings by Pablo Picasso, Paul Gauguin, René Magritte and Mark Rothko, and the sculpture of Auguste Rodin. Landscape Paul Gauguin in 1892 "Te Fare (La Maison)" was sold in March 2017 for $ 25 million (Rybolovlevu of them went to $ 22 million). He was bought for 85 million dollars. Picasso's 1970 painting "Joueur de flute et femme nue" was sold for $ 5.8 million (including an auction house commission), while buying it for $ 35 million from the Uralic nugget. The bronze statue of Auguste Rodin's "Le baiser, grand modele", which Dmitry Rybolovlev bought for 10.4 million dollars, did not find any buyers at all. Finally, the work of René Magritte in 1938 "Le domaine d'Arnheim" brought 12.7 million dollars. Rybolovlev paid for it 43.5 million dollars!

But this is not so bad. After all, for some "works of art" Rybolovlev does not receive anything at all, even when selling at a discount. This concerns not only the scandalous picture of Leonardo da Vinci's "Savior of the World", which the oligarch purchased for 127.5 million dollars and which clearly does not cost ten thousand dollars. Some pictures of Rybolovlev had to be returned in return for free to former owners, as they were stolen (two portraits of Jacqueline Rock, written by Pablo Picasso). In July 2017, an attempt to sell the picture of El Greco "Christ says goodbye to his mother" at Christie's auction ended in disgrace - no one paid any attention to it. And for this canvas, the oligarch of the Permian period owed $ 48 million, by the way.

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The trend is clear here. Next, we, apparently, will see a few more iterations of Rybolovlev's adventures, which will be something between a chaotic sale of property, getting into debt and an endless judicial thriller. In this whole story, we are the only one who is sorry - this is Prince Albert II. This holy man of the crystal feudal principles did not understand Rybolovlev, he did not notice the rotten interior in him and allowed him too close to himself, thereby permitting Monaco to reputational damage. After all, where is it seen that in the old Europe, wild corruption flourished, a large-scale falsification of art objects was conducted, the kickbacks were drilled and the squeezing of juices from their Eurasian (and not only) colonies was in full swing?