A childhood friend and sometime judo partner of Vladimir Putin, Arkady Rotenberg and his brother Boris are moving their assets to their sons to avoid sanctions, as reported by Bloomberg. Arkady divested from Mostrotest, a major Russian infrastructure company that cleaned up at the winter Olympics in Sochi and had $3 billion in sales last year. Arkady’s son Igor now owns 26% of the company, as well as a stake in TPS Holding. Boris Rotenberg sold his 50% stake in Finland’s Hartwell Arena to his son Roman.
The brother’s fortunes have declined since the sanctions were imposed by the U.S. on Putin’s inner circle. Arkady has lost over $300 million, and his net worth is now a mere $1.9 billion. Shares of Mostrotest have declined 39% so far this year, which makes one wonder if the Rotenberg sons resent having cope with their fathers’ losing assets.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
