Russian oligarchs not only have a penchant for yachts, lavish parties and extreme spending sprees; these super-wealthy and powerful tycoons also seem to have a habit of undergoing extravagant divorces. Early this year, the 52-year old businessman and political figure Vladimir Potanin‘s 30-year long marriage to Natalya Potanin culminated in an acrimonious (and expensive) divorce.
Hell Hath No Fury
The ordinarily sedate Natalya stepped out of the shadows to speak to the court and the press about the betrayal she felt on the Sunday afternoon when she learned that her husband wanted to divorce her. According to Natalya, the billionaire handed her documents that entailed signing over all rights to his accumulated wealth and future earnings – right after enjoying the Sunday family lunch.
An Intercontinental Legal Battle
Besides alimony and child support, the spurned ex-wife claims that under Russian law she is also entitled to half of all the marital property, including considerable assets in the United States. Natalya Potanin’s legal team secured several court orders forcing companies in the US to divulge her former spouse’s assets. When accused of asset-stripping by making large donations to overseas charities, Potanin responded that he was giving away money so that his children are motivated to earn some of their own.
The Verdict
Despite efforts to keep his substantial fortune contained, it was decided in court that Vladimir Potanin’s former wife and young son will continue to live the lifestyle they are accustomed to, at Potanin’s expense of course.
After months of negotiations and considerable scrutiny of the Russian businessman’s financial affairs, the court ruled that a quarter of his income is to be paid over to his ex-wife. The monthly payments are rumored to amount to RUB8.5 million (approximately US$227,000), but has not yet been confirmed, along with how assets will further be divided. Although the divorce is costing Vladimir Potanin a small fortune, with a net worth estimated at $14.5 billion, he certainly has something to fall back on.