Billionaire Roman Avdeev, Forbes 108th with $1.2B fortune, Sells All Russian Assets to Partner Sergey Sudarikov, Including Moscow Credit Bank

Nov 1, 2024, 11:41 AM

Billionaire Roman Avdeev, ranked 108th on Forbes' Russian list with a fortune of $1.2 billion, has sold all his assets in Russia. The sale includes control of Moscow Credit Bank, the seventh-largest bank in Russia by assets, and was made to enterprises owned by his business partner Sergey Sudarikov. Avdeev, who founded the Rossiym conglomerate in 2006, stated that he intends to focus on his family, which includes 23 children. This divestment follows a broader trend in which 23 Russian private companies have been transferred to state ownership since the start of 2024, alongside the confiscation of thousands of properties and vehicles.