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The Russian Oligarch, Billionaire, and Investor Gennady Timchenko

Charlene Lensburg
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The Russian Oligarch, Billionaire, and Investor Gennady Timchenko

On 22 Feb 2022, U.K. Prime Minister Boris Johnson announced sanctions on three Russian oligarchs as part of the British government’s response to the escalating conflict in Ukraine – Boris Rotenberg, Igor Rotenberg, and Gennady Timchenko.

The Russian-Finish oligarch, billionaire, and oil magnate Gennady Timchenko is known for his close relationship with Russian President Vladimir Putin. Born in Soviet Armenia and raised in East Germany and Ukraine, in 1976, he graduated from the Leningrad Mechanical Institute, Putin’s List notes.

In 1997, together with his Swedish partner Torbjörn Törnqvist, he founded Gunvor. Both Russian state-owned (Rosneft, Gazprom Neft) and private companies (TNK-BP and Surgutneftegaz) sold oil abroad through Gunvor. In 2007, about 30 percent of all Russian oil exports went through Gunvor. Timchenko sold his stake to a partner in 2014 to protect the company from being hit by the sanctions against Russia over the Crim annexation.

In 2007, Gennady Timchenko founded the private investment fund Volga Group, which in 2010 became one of the largest shareholders in Novatek, one of Russia’s primary natural gas firms. This investment consolidated Timchenko’s clout in Russia’s oil and gas industry.

His biggest holdings include major stakes in publicly traded natural gas producer Novatek and chemicals manufacturer Sibur.

As of 24 Feb 2022, Timchenko was ranked 96th on the Bloomberg Billionaires Index, with an estimated fortune of US$16B making him the 8th richest person in Russia.

The Tinder Swindler’s Bodyguard Sues Netflix over breaching his human rights!

bluechipper
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The Tinder Swindler’s Bodyguard Sues Netflix over breaching his human rights!

Life writes the best stories. The Tinder Swindler on Netflix tells the unbelievable story of Simon Leviev, a conman who met women on Tinder, posed as a billionaire, and conned them out of their life savings. He called himself the “Prince of Diamonds,” telling women he was the heir to LLD Diamonds and the owner’s son, Lev Leviev. One thing the women say made it all feel real was that Simon had a team with him – including a bodyguard called Peter.

Peter is now allegedly suing Netflix over the documentary. According to Peter’s lawyer, he had no part in any scam, and he is now suing for breaching his “human rights,” which have led to him suffering mentally. His lawyer Joanna Parafianowicz said nobody reached out and talked to her client before the documentary was made. “No one has the right to deprive a person of basic rights, such as the right to image and the right to the protection of personal data,” she said. “The movie doesn’t tell my client’s story, and it must be underlined – no charges have been ever brought against him regarding this case. He’s never been involved in Simon’s businesses.”

However, many viewers would associate him with the Tinder Swindler, whose real name is Shimon Hayut. He is an Israeli citizen and was eventually caught with a fake passport in Greece in 2019. He was extradited to Israel and sentenced to 15 months in prison for theft, fraud, and forgery of documents but got out after five months on good behavior.

Read the full story on The Tab

Who is the Russian Oligarch Alisher Usmanov?

Adrian Fuller
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Who is the Russian Oligarch Alisher Usmanov?

The Russian Alisher Usmanov, born 9 September 1953, is the owner of the world’s largest superyacht, Dilbar, estimated to be worth up to a billion. Usmanov’s net worth is said to be just under $18B. Of course, he has excellent connections to Putin and the Russian establishment.

Usmanov has invested heavily in tech firms in Russia and abroad for decades while keeping close connections to the Russian political elite. Usmanov is the largest investor of Digital Sky Technologies and holds shares in several international technology companies. He teamed up with the Russian investor Yuri Milner. Between 2009 and 2011, Milner managed a series of investments in Twitter and Facebook, allegedly with Russian state money organized by Usmanov. They sold their stakes shortly after Facebook’s initial public offering in 2012 and Twitter’s in 2013, ICIJ reports.

A spokesman for Usmanov, Rollo Head, said Usmanov “has been a highly successful investor in Russian and international assets utilizing a combination of his own and borrowed funds.“

Usmanov is Muslim and is married to Irina Viner, a rhythmic gymnastics coach, who is considered to be close to Putin. He currently dedicates most of his time to promoting sport and charity. “For a Muslim, 63 is the age that the Prophet Muhammad lived to. Beyond this age, I don’t want to deal with self-interest. Today, in principle, I feel that I am no longer a businessperson. I now feel more like a public person who is engaged in charity work, which fascinates me. And since this requires a lot of money, I will maintain my position as a shareholder in businesses,” he said.

Usmanov has massive real estate investments in the UK. He owns the Grade I listed Tudor mansion Sutton Place set in 120 hectares (300 acres) in Surrey, which he bought for £10 million in 2004. In 2008, Usmanov bought Beechwood House, a Grade II listed Regency property in 4.5 ha (11 acres) of grounds in the London suburb of Highgate from the Qatari sheikh Hamad bin Khalifa Al Thani for £48 million.

Usmanov has avoided major rounds of sanctions on wealthy Russians.

What It Costs To Run The World’s Largest Superyacht!

Jacob Weizman
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What It Costs To Run The World’s Largest Superyacht!

Buying a superyacht is an expensive adventure. But maintaining a yacht is even more expensive. The Russian billionaire Alisher Usmanov owns the largest superyacht in the world, Dilbar. The 512ft superyacht is said to cost up to $80M to run every year. One fuel costs as much as four supercars. Allegedly a 500,000-litre refuel would cost nearly $800,000.

Dilbar is a super-yacht launched on 14 November 2015 at the German Lürssen shipyard and delivered in 2016. As of 2020, Dilbar is the sixth-longest yacht in the world. The ship is registered in the Cayman Islands. At 15,917 gross tonnage (GT), it is the third-largest yacht by volume, after Fulk Al Salamah and REV Ocean.

The super-secretive superyacht’s price is estimated between $810M to $1B. As reported by Bloomberg Billionaires Index in 2021, Alisher Usmanov has an estimated net worth of $17.9B. He built his wealth through metal and mining operations, and investments, and is the majority shareholder of Metalloinvest, a Russian industrial conglomerate.

According to ICIJ, Usmanov has for decades invested heavily in tech firms in Russia and elsewhere while keeping close connections to the Russian political elite.

Read the full story on The Sun

Crypto Investor Alert! Do Not Hold Your Crypto Funds On Online Exchanges!

Adrian Fuller
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Crypto Investor Alert! Do Not Hold Your Crypto Funds On Online Exchanges!

Canada deemed a liberal country, demonstrated how quickly governments can access bank accounts and crypto wallets and freeze the funds on them without the intervention of the courts. The government of Justin Trudeau has shown how critical decentralized cryptocurrencies without government control are. We advise crypto investors not to hold their crypto funds in custodial wallets on online exchanges but in non-custodial wallets. Do not let Big Brother control your cryptos!

States have control over centralized crypto exchanges through regulation and supervision. While Binance shows how to avoid government control through legal entities in various jurisdictions, this is becoming increasingly difficult as Binance, Coinbase, Kraken et al. need access to the FIAT system.

On Feb. 14, Canada invoked its Emergencies Act to control the Freedom Convoy, a group protesting COVID-19 restrictions by occupying Ottawa’s downtown core. The act allows the government to immediately freeze several bank accounts and prevent exchanges from working with specific cryptocurrency addresses without court approval. Over 34 cryptocurrency addresses were initially blacklisted last week.

Coinbase CEO Brian Armstrong shows himself concerned:

While law enforcement and regulators can force exchange operators like Kraken or Coinbase to freeze wallets, authorities cannot prevent the crypto owners from moving cryptocurrency peer-2-peer on blockchain a/k/a on-chain.

Decentralized crypto and states have a difficult relationship. The developments in Canada are just one of many state developments aimed at gaining control over cryptos. As a crypto investor, you should be aware of that!

Read the full story on FinTelegram

Russian Vladimir Putin Explains Ukraine Invasion on TikTok

Jacob Weizman
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Russian Vladimir Putin Explains Ukraine Invasion on TikTok

Of course, officially it is not an invasion. Russia recognized to so-called Ukraine rebel regions Donetsk and Luhansk as independent states. Consequently, Russian president Vladimir Putin has ordered Russian troops to “maintain peace” in these two breakaway regions in eastern Ukraine. In two official decrees, Putin on Monday instructed the country’s defense ministry to assume “the function of maintaining peace” in the eastern regions. The White House said it will slap sanctions on the Russian-occupied regions. Here is Putin’s declaration on TikTok:

@president.vladimir.putin

#putin #vladimirputin #breakingnews #breaking #ukraine #news

♬ original sound – Vladimir Putin

Mark Zuckerberg – The Disgraced Former King Of Cybersociety!

Charlene Lensburg
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Mark Zuckerberg – The Disgraced Former King Of Cybersociety!

Meta Platforms, the parent company of Facebook, has lost more than half a trillion dollars in market value since its August 2021 peak. Half of that vaporized in a single day, the biggest drop ever in the global stock exchange history. Once the sixth-largest company in the world by market capitalization, Meta has fallen out of the top ten, replaced by two computer-chip makers, Warren Buffett’s Berkshire Hathaway and the Chinese e-commerce company Tencent.

Mark Zuckerberg, who has openly courted comparisons to the Roman emperor Augustus, is now a disgraced lame duck. Or at least it seems so. The New York Intelligencer remarked that this is “an ignominious fall from a rarefied group of world-dominating companies.” According to The Wall Street Journal, the Meta fallout has been so severe that advertisers are shifting their ad budgets to Google since Facebook is no longer profitable.

According to Forbes, the 37-year-old tech Mark Zuckerberg is worth about $74 billion. And Meta, which also owns Instagram and WhatsApp, still made $39 billion in profit in 2021. But, according to its projections, the company’s profits will shrink for the foreseeable future as it sinks more money into developing the metaverse.

The future is still the future, and no one knows today if the metaverse vision will not work. We would not place any bets on it. There is also the fact that Meta is also facing an antitrust lawsuit in the U.S. from the FTC and may have to spin off WhatsApp or Instagram. There is a time for everything. And Mark Zuckerberg has had his. Now comes the Chinese Age of Social Media with TikTok.

Read our article on the Chinese Social Media Age

U.S. Government against Big Tech – An App Store Bill Ante Portas!

bluechipper
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U.S. Government against Big Tech – An App Store Bill Ante Portas!

The GAFAM War

For years, GAFAM (Google, Apple, Facebook, Amazon, and Microsoft) has been waging war with governments over tax evasion, antitrust rules, and their ever-expanding power over society. The Wall Street Journal reports that U.S. lawmakers in both parties may take action against Apple and its clout. The tech giant comes under pressure and may lose its grip on the profitable app store business. The Senate Judiciary Committee voted 20-2 this month to advance legislation that could erode Apple’s fees on digital app revenues.

Read our story on the GAFAM war here!

The vote came despite the political lobby work of Apple CEO Tim Cook, who warned that the bill would hurt user privacy and security. However, some Apple rivals, such as Epic Games and Microsoft, back the bill.

The Sideloading Bill

The bill targets app platforms and would allow developers to sidestep Apple by allowing “sideloading” of software onto iPhones outside of its App Store or to let apps use the store but skip Apple’s in-app payment system. The bill would also apply to Google Play. Apple has argued that sideloading would enable sidestepping safeguards to limit collecting user data.

According to Apple lobbyist Timothy Powderly, the company chose to prohibit sideloading and alternative app distribution because smartphones contain a person’s most sensitive data, and protecting that data would be imperative.

“For a long time, Apple floated above the fray in Washington,” said Paul Gallant, a policy analyst with Cowen & Co. Now, he said, the company has “been pulled down into the muck.“

Lobbying with limits

Apple‘s lobbying expenditure amounted to about $6.5 million last year, roughly a third that of Amazon or Meta. Tim Cook has long used his public persona to personally influence those in power and guide the company through political storms in Washington waters. This time, it seems, lobbying found its limits!

Read the story on The Wall Street Journal

Top 5 Investment Watches in 2022

Adrian Fuller
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Top 5 Investment Watches in 2022

Jorg Weppelink of Chrone42 recently presented five luxury watches other than Rolex and Omega that may be great investment opportunities in 2022. It is a bit tough to find Omega models that have the potential to go up in price, the expert claims. Omega Speedmasters or Omega Seamasters are great investment watches, but Chrone42 looked beyond that two household brands. Sure, there are no guarantees that these watches will make you a lot of money. If you don’t, you will have a watch that you love.

  1. Audemars Piguet Royal Oak Jumbo ref. 15202ST
  2. Patek Philippe Nautilus ref. 5711/1A
  3. Vacheron Constantin Overseas 4500V
  4. F.P. Journe Elegante 48
  5. Czapek Antarctique Terre Adélie

Over the last decade or so, luxury watches have become a popular alternative asset class, i.e., investment watches. As a result, more and more people want to make money with watch investments.

The world of luxury mechanical watches can be highly lucrative if you know which models to invest in. There are two approaches when it comes to luxury watch investments. You could either become an expert in vintage watches or invest in modern timepieces and speculate that your watches will increase in value over time.

Read the full story on Chrone24

U.S. Government Makes Fighting Cybercrime Top Priority

Jacob Weizman
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U.S. Government Makes Fighting Cybercrime Top Priority

FinTelegram reported that in fighting cybercrime, the U.S. Justice Department will make a strategic change! It will focus more on preventing further harm to victims, even if it means tipping off suspects and jeopardizing arrests, U.S. Deputy Attorney General Lisa Monaco explained. Law enforcement must keep pace with the cybercriminals who exploit innovations as fast as the marketplace produces them. Prosecutors and law enforcement are targeting dozens of ransomware groups estimated to have caused billions of dollars in damage to victims.

Cybercriminals received more than $1.2 billion in ransom payments in 2020 and 2021 combined, according to cryptocurrency-tracking firm Chainalysis. Monaco said that ransomware and other digital extortion “only work if the bad guys get paid, which means we have to bust their business model,” Monaco said.

She said the department needed to apply the “same thinking” that enabled thwarting terrorist attacks to blunt the impact of damaging hacking incidents, such as ransomware. Prosecutors, agents, and analysts will weigh whether to take disruptive action against cyber threats at each stage of a cyber investigation, even if it alerts cybercriminals and thus prevents possible arrests, Monaco said at the Munich Cyber Security Conference.

Read the full story on FinTelegram
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