Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Rybolovlev $88M Apartment Buy Disputed

Dmitry Rybolovlev, worth an estimated $9 billion and the world's 100th-richest person according to Forbes, formed a sham entity to buy a Manhattan penthouse for his daughter Yekaterina solely to shield it from his wife Yelena in divorce proceedings, according to a lawsuit filed last week in a New York state court in Manhattan.

Yelena Rybolovleva said she began divorce proceedings in Switzerland in 2008 after 21 years of marriage and that a Geneva court later imposed a freeze on some of her husband's assets.

Despite this, she said her husband has been using marital property to buy a multitude of other assets through a variety of trusts and limited liability companies, hoping to put those assets beyond her reach.

Rybolovleva said those assets include majority ownership in French football club AS Monaco, a $295 million stake in Bank of Cyprus and a $95 million Palm Beach, Florida, home purchased from Donald Trump.

"She wants her fair share," said David Newman, a partner at Day Pitney in New York who represents Rybolovleva. "She hopes to get a substantial judgment in the Swiss divorce, and if there are no assets or only a small amount of  assets from which to satisfy it, it's a Pyrrhic victory."

Rybolovleva has filed a similar lawsuit in Florida over the Palm Beach home.

The Feb. 15 purchase of the penthouse for $88 million from former Citigroup chief executive Sanford "Sandy" Weill and his wife Joan has been described as the highest price ever paid for a Manhattan apartment.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more