Kirill Shamalov, son of Nikolai Shamalov, the child of a shareholder of Rossiya Bank, is The youngest billionaire in Russia.
His father was an old friend of Putin.
Krill was a law student at Saint Petersburg University. However, He later pursued business as his profession, and at the age of 26 only, he became the vice present of the Russian Petrochamicla Company Sibur.
The question of how did he Become the Youngest Billionaire In Russia doesn’t surprise us. Let’s look forward to his journey of being a Billionaire.
Kirill married Katerina, Putin’s youngest daughter, in 2013. Shamalov was Russia’s youngest richest man at the time.
An unidentified source gave reporters from IStories, OCCRP’s Russian member center, access to a leaked archive of Shamalov’s emails earlier this year.
The leaked messages span the years 2003 through 2020, and they provide an extraordinary insight into a person with extreme access to the inner workings of Russian politics.
The archive also contains a number of other discoveries about the financial benefits he reaped and the power he wielded as a result of his relationship with the first family.
His capacity to use administrative resources and personal ties to benefit himself, his friends, and business partners represent the corrupt nexus of power and business in modern Russia.
Soon after his wedding to the president’s daughter, a competitive acrobatic dancer who is now helping to supervise a $1.7 billion expansion of Moscow State University, his wealth was increased.
Kirill bought a prominent position in Sibur, a significant Russian oil and petrochemical processor, in less than 18 months, for an estimated $2.85 billion, based on the value of recent share purchases.Â
He also left his job as a business manager to start his own firm to manage his personal investments.
Kirill began conversations with one of the president’s wealthiest friends about purchasing shares in Sibur.
According to his investment company’s disclosed reports, he was able to borrow more than $1 billion a year later.
The money came from a bank run by another longstanding Putin associate, where Shamalov’s brother works as a top executive.
Kirill utilized the money to make an investment in Sibur that paid off handsomely after only a few months.
The rise and fall of Kirill’s fortunes offer new light on how close associates of Putin have risen to positions of power in critical corporations and how those possibilities are now being extended to a new generation.
Much of this wealth transfer has taken place behind closed doors, similar to the wedding.