When the world gets closer.

We help you see farther.

Sign up to our expressly international daily newsletter.

Already a subscriber? Log in.

You've reach your limit of free articles.

Get unlimited access to Worldcrunch

You can cancel anytime.

SUBSCRIBERS BENEFITS

Ad-free experience NEW

Exclusive international news coverage

Access to Worldcrunch archives

Monthly Access

30-day free trial, then $2.90 per month.

Annual Access BEST VALUE

$19.90 per year, save $14.90 compared to monthly billing.save $14.90.

Subscribe to Worldcrunch
Switzerland

The World's Most Expensive Divorce, Russian-Style

Dmitri and Elena Rybolovlev are fighting a brutal battle over the Russian oligarch’s fortune. Tracking down and dividing the epic assets of one of the richest men on the planet is an endless task.

Ekaterina Rybolovleva and her $88 Million Crash Pad in NYC (fyinfodaily.com)
Ekaterina Rybolovleva and her $88 Million Crash Pad in NYC (fyinfodaily.com)
Agathe Duparc

GENEVA- On that day of December 2008 when Elena Rybolovleva decided to divorce her very rich and very unfaithful husband and ask him for $6.3 billion, she remembered a reflex that every wealthy Russian businessman has: profilaktika (or "prevention"). She wrote a letter to the General Prosecutor of Geneva (the city where she had been living since 1995) to warn him that if "anything" ever happened to her, her husband Dmitri Rybolovlev, the former fertilizer tycoon and Russia's 13th richest man, should be considered the No. 1 suspect.

The Ural-born oligarch was actually applying profilaktika when he was forced to quickly relocate his wife and daughter to Geneva in the 1990s, to protect them from the mafia.

"He's the one who taught me the rules. Now I'm playing the game", says the woman who just filed one of the most expensive divorces in history. On both sides, high-priced lawyers are waging battle, something that contrasts with Elena's discreet, almost shy politeness. She refuses to let our photographer take a picture of her.

In this story, everything is excessive. First, you have the "hole" that the Rybolovlev couple left behind in Cologny, in the upscale suburb of Geneva. You can see the huge construction site from the other side of Lake Léman. Each week a surveyor comes to the hillside to assess mudslide risk. Part of the Palace of Versailles was supposed to be replicated here, with underground swimming pools, gyms, limousines and an art collection. But the divorce procedure brought the whole thing to a halt.

According to Swiss Law, each will get half of the fortune amassed in their 21-year marriage. But appraising the fortune and listing the couple's assets is a difficult and endless task. There are two gorgeous chalets in Gstaad, Switzerland, worth 211 million dollars, a townhouse on rue de l'Elysée in Paris, worth 24 million dollars, a yacht, a couple of airplanes, and so on.

The war between the 45-years-old spouses started when Dmitri transferred most of his fortune, including his shares in his company, into two Cyprus bank accounts without telling his wife. He is the sole beneficiary of these accounts, along with his two daughters, 11 and 22.

Mrs. Rybolovleva's lawyers consider this transfer as a way to hide his assets from his wife. They believe there is more than $12 billion in these accounts, whereas Mr Rybolovlev's attorneys claim the amount is closer to two billion.

Protecting the children

Elena Rybolovleva says she is not fighting "for the billions' but rather to stand up to "an oligarch who thinks money can buy everything and put him above the law." She also says she wants to protect her daughters from this "make-believe world." She recently had to explain to her daughter what was wrong with her father's invitation to be flown to Los Angeles "to have tea with Lady Gaga and Britney Spears.""My daughter has to learn that the singers were not coming for her, but for a fee of tens of thousands of dollars," Elena says. "Right now she understands, but how long will that last?"

At the end of 2008, worried that her unfaithful husband was about to hide part of his fabulous treasure, Elena had the couple's assets frozen in the UK, the U.S, Singapore, the British Virgin Islands and Cyprus. This is when she discovered the new Cyprus accounts and learnt that the couple's art collection (which includes about fifteen Picassos, Monets, Degas and Van Goghs) have also been sent to Mediterranean tax haven.

The irony is that she "naively" helped to transfer the masterpieces from Russia to Geneva, Singapore and London "to prevent them from being seized by the Russian government."

In 2011, Dmitri moved from Switzerland to Monaco, where his oldest daughter Ekaterina was living. They are both enjoying the high life. After renting the villa of late dictator Mobutu at Cap-Martin, on the Riviera, the father, daughter and paternal grandparents are now living in a 2,000-m2 mansion, bought for $317 million.

The former fertilizer tycoon also achieved a life-long dream when he bought the AS Monaco soccer club in December 2011. At the time, the U.S press was having a field day with "the real estate deal of the century:" a 600-square-meter penthouse with a view of Central Park, bought by Ekaterina for $88 million. Elena Rybolovleva, who says her husband "manipulated" his daughter, has filed a lawsuit in New York.

Read more from Le Temps in French

Photo - fyinfodaily.com

You've reached your limit of free articles.

To read the full story, start your free trial today.

Get unlimited access. Cancel anytime.

Exclusive coverage from the world's top sources, in English for the first time.

Insights from the widest range of perspectives, languages and countries.

FOCUS: Russia-Ukraine War

A First Look At Russia's Ukraine War Veterans, Struggling Back On The Homefront

Hundreds of thousands of Russians have taken part in the war. On returning, many face difficulties to return to normal life and finding work, as independent Russian news outlet Vazhnyye Istorii/Important Stories reports.

Image of a Man waiting in line at Military Employment Office of the Russian Armed Forces​

Man waiting in line at an employment office in Moscow

РЕДАКЦИЯ

MOSCOW — Since the beginning of the full-scale invasion of Ukraine, hundreds of thousands of Russians have taken part in the war. They range from professional soldiers, National Guardsmen, reservists and conscripts to mercenaries of illegal armed groups, including former prisoners.

The exact number of those who survived and returned home is unknown. In the past year alone, about 50,000 citizens received the status “combat veteran”. The actual number of returnees from the front is far higher, but it is often extremely difficult to obtain veteran status and veteran benefits.

Keep reading...Show less

You've reached your limit of free articles.

To read the full story, start your free trial today.

Get unlimited access. Cancel anytime.

Exclusive coverage from the world's top sources, in English for the first time.

Insights from the widest range of perspectives, languages and countries.

Already a subscriber? Log in.

You've reach your limit of free articles.

Get unlimited access to Worldcrunch

You can cancel anytime.

SUBSCRIBERS BENEFITS

Ad-free experience NEW

Exclusive international news coverage

Access to Worldcrunch archives

Monthly Access

30-day free trial, then $2.90 per month.

Annual Access BEST VALUE

$19.90 per year, save $14.90 compared to monthly billing.save $14.90.

Subscribe to Worldcrunch

The latest