Don’t be sad for sanctioned Russian oligarch Suleyman Kerimov that the U.S. is seizing his $300 million superyacht. He is worth over $10.7 billion, so he could afford to buy 30 more and still have almost two billion to live on.
According to an article by The Kyiv Independent, Kerimov, who is a close ally of Donald Trump’s boss Vladimir Putin, was sanctioned twice by the U.S. Treasury Department in response to Russia’s activities in Ukraine and Syria.
Kerimov is believed to have purchased the yacht, called Amadea, through front companies in 2021. The yacht is currently docked in San Diego under the control of the U.S. government.
If the U.S. prevails in its lawsuit to gain ownership of the yacht, it will auction it off with the proceeds transferred to Ukraine.
Here’s Wikipedia’s description of Kerimov’s business style:
Forbes magazine describes Kerimov as one of the most private Russian billionaires, who has not given a single interview over 20 years in business. Moscow Times quoted a former deputy editor of Forbes Russia Kirill Vishnepolsky as describing Kerimov as a “Russian Warren Buffett” for a similarly astute investment style. A senior Moscow banker is reported to have said of Kerimov: “Sometimes it is difficult to talk to him. He is always a few steps ahead of you. For foreigners, it is next to impossible, even those used to a Russian environment. He is very quick and creative, in a sense that ideas come to him that don’t come to other people.” Kerimov reportedly made extensive use of leverage for his investments, according to financiers and bankers active in Russia.
Not bad, as far as oligarchs go. At least he doesn’t go around stabbing people in the face with the broken stem of a margarita glass.
