World's biggest-ever divorce is a 'hammer blow' to Russian oligarch
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World's biggest-ever divorce is a 'hammer blow' to Russian oligarch ordered to pay $4.5billion to his ex-wife, says lawyer after six-year legal battle
Dmitry Rybolovlev ordered to pay record amount to Elena Rybolovleva
Her delighted lawyer Marc Bonnant said figure was 'amicable settlement'
He said Mr Rybolovlev had 'put up strong resistance' by concealing assets
Pair had been together for 24 years but engaged in six-year court battle
Sum of £2.68billion is estimate of half the Russian oligarch's entire fortune
Bitter row involved two mansions in US and £100million Greek island
By Peter Allen for MailOnline
Published: 01:39 BST, 20 May 2014 | Updated: 17:22 BST, 9 June 2014
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A Russian oligarch ordered to pay out a world-record £2.7billion to his ex-wife views the settlement as a 'hammer blow' and may appeal, it emerged today.
Judges in Switzerland said Dmitry Rybolovlev, 47, has to give Elena Rybolovleva, who was with him for 24 years, a very precise 4,020,555,987 Swiss francs and 20 centimes.
In current sterling rates, this amounts to £2,681,297,538 and 78 pence - an estimate of half the Russian oligarch's entire fortune.
Marc Bonnant, Ms Rybolovleva's clearly delighted lawyer, said the figure represented an 'amicable settlement' after six years of tough negotiations.
Scroll down to see video
Monaco Football club's Russian president Dmitri Rybolovlev, pictured left, has been ordered to pay a world record divorce settlement of more than £2.6billion to his ex-wife Elena Rybolovleva, right
Dmitri Rybolovlev, left, who made his billions through a successful fertiliser business, must make the payment following a six-year court battle. He is pictured at an AS Monaco football match with a woman who is not his wife
But Mr Bonnant also admitted that it was 'the most expensive divorce in history' and that Mr Rybolovlev viewed the astronomical sum as a 'hammer blow'.
Mr Bonnant said the billionaire had 'put up strong resistance' and tried to conceal the full extent of his assets via offshore ventures.
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The Geneva court's decision can now be appealed by Mr Rybolovlev, who met his wife more than 30 years ago when they were students in the Ural mountains.
It follow a six-year legal saga in which Mr Rybolovlev, who made his billions through a successful fertiliser business, bitterly contested Ms Rybolovleva's claims to two of the most expensive properties in the USA and a £100million Greek island.
Now Mr Rybolovlev must sign a cheque for the incredible sum in the Swiss city of Geneva, where Mrs Rybolovleva lives in a lakeside mansion.
Dmitry Rybolovlev owns Maison de l'Amitie, a 54,000 sq ft French Regency-style house, sitting on more than seven manicured acres of prime waterfront on the barrier island of Palm Beach, Florida
Dmitry Rybolovlev purchased Donald Trump's Maison de l'Amitie in Palm Beach, Florida, for $100million
Elena Rybolovleva alleged that her husband purchased this three bedroom plantation style property in Kauai in Hawaii from Will Smith for $20 million
Dmitry Rybolovlev bought the Greek island of Skorpios from the Onassis dynasty last year for a reported £100 million, again for his daughter, a socialite show jumper
The settlement is far higher than the £1.5 billion paid by art heir Alec Wildenstein to his ex wife, Jocelyne, which until now had been the largest confirmed public divorce settlement in the world.
Rupert Murdoch, the media mogul, was told to give his former wife, Anna, £1billion in 1999. He went on to marry his third wife Wendi Deng, from whom he is now divorced.
Mr Rybolovlev, who was found by the court to be worth £5.2 billion - although the figure is believed to be a conservative estimate of his wealth - and his ex-wife have been at war since 2008 over the terms of their divorce.
Ms Rybolovleva won custody of the couple's 13-year-old daughter Anna, along with Mr Rybolovlev's half of their former home in Cologny, an up-market neighbourhood of Geneva.
In 2012, Mrs Rybolovleva claimed a £50 million plus ownership of the New York penthouse which her ex-husband had bought for Anna.
The purchase of the penthouse from the former head of the Citigroup bank, Sandford I.Weill and his wife Joan, was at the time the most expensive home ever bought in New York City.
Dmitry Rybolovlev pictured left and right with his daughter Ekaterina Rybolovleva at the Global Champions Tour of Monaco
Watching the field: Rybolovlev is pictured with an unidentified woman at a gootball match in Saint-Etienne on March 1 of this year
A second occasion: Rybolovlev is pictured with an unidentified woman, who is believed to be the same companion as from the football match, at an event in Monte Carlo on May 17
In court papers filed in Manhattan, Ms Rybolovleva had said Mr Rybolovlev had been using marital property to buy a multitude of other assets through a variety of trusts and limited liability companies, hoping to put those assets beyond her reach.
Mrs Rybolovleva said these assets include his majority ownership of French soccer club AS Monaco, a $295 million stake in the Bank of Cyprus, and a $95million Palm Beach, Florida, home purchased from another tycoon, Donald Trump.
Mr Rybolovlev is one of the small group of Russians who became fabulously wealthy during the post-Soviet privatization of the economy and became known as oligarchs. He is the former owner of fertilizer business Uralkali.
Mr Rybolovlev also owns a £12million Hawaii mansion he bought from the Hollywood star, Will Smith, and La Belle Epoque penthouse in Monaco, where he lives, 해머캔디 for which he paid £178 million.
He bought the Greek island of Skorpios from the Onassis dynasty last year for a reported £100 million, again for his daughter, a socialite show jumper.
Beautiful: Dmitri Rybolovlev purchased a $88 million apartment on Central Park West for his daughter Ekaterina Rybolovleva - for her studies while at college in New York
Luxury: The 6,744 sq ft apartment boasts 10 rooms, a wrap-around terrace, library and seven walk-in closets
The island was made famous as the location of Aristotle Onassis's wedding to the former US First Lady, Jacqueline Kennedy, in 1968.
Mr Rybolovlev's wealth came from the sale of his stake in Uralkali, a Russian fertiliser business, for $6.5billion in 2010.
He went on to buy AS Monaco in December 2011, attempting to make the club as successful as Qatari-owned Paris Saint Germain.
Mr Rybolovlev, who lives in Monaco, also has an estate in the southern French resort of Saint Tropez and his assets include an art collection with paintings by Picasso, Van Gogh, Gauguin and Monet.
Since splitting from her husband, Mrs Rybolovleva has been followed almost round the clock by private detectives.
In February, she was questioned by police in Cyprus on suspicion of stealing a diamond ring reportedly worth £15 million, borrowed from her daughter but not returned, and which belonged to a trust.
She was released without charge.
The Russian oligarch has a majority ownership in AS Monaco, whose stadium is pictured. It plays in the French league but is actually based in the Principality of Monaco, close to two of its marinas.
She was by Mr Rybolovlev's side as he rose from a doctor-turned-entrepreneur into a stockbroker and banker, before becoming chairman and majority shareholder of Uralkali.
They stayed together during his 11 months in jail - when he was accused of murdering a competitor before the charges were dropped - and when threats on his life led him to wear a bullet-proof vest and move his family to Switzerland.
He was said to be stunned when he found out about the divorce petition on New Year's Eve 2008 from his bankers, after his accounts were frozen.
In that petition, the then Mrs Rybolovleva said she could no longer take his infidelities, describing parties on yachts where, she said, he had shared some 'young conquests with his friends, and other oligarchs'.
RYBOLOVLEV'S MONACO PENTHOUSE WITH A MACABRE PAST: £180M FLAT WAS SCENE OF ARSON ATTACK THAT KILLED PREVIOUS BILLIONAIRE OWNER
The sumptuous Monaco penthouse where Russian oligarch Dmitry Rybolovlev lives was once the scene of an arson attack that killed a previous billionaire owner.
The 17,500 sq ft flat La Belle Epoque, which was bought by Mr Rybolovlev for £178million, is not only the largest in Monaco, but also offers stunning views over the Mediterranean.
It was previously owned by Sheikh Mohammed bin Rashid Al-Maktoum of the Dubai Royal Family who paid some £200million in 2010, then believed to be the most expensive residential property sale ever.
The beneficiaries of that transaction were British property developers Nick and Christian Candy, who are thought to have made a profit somewhere in the region of £155million.
That was in despite of its macabre history.
For the brothers had bought the property in 2006 from the widow of billionaire Lebanese banker Edmond Safra, who was killed inside the flat in an arson attack.
Mr Safra, 67, was found dead alongside his nurse in a locked security room after a fire was started by his servant, a former Green Beret special forces soldier who was jailed for 10 years.
The servant claimed he started the blaze so he could then save Mr Safra and gain the plaudits.
The Candy brothers reportedly paid £10-£15million for the penthouse in 2006 then spent around £30million on an 18-month renovation in their signature Candy & Candy style.
According to The Pinnacle List: 'The pioneering confidence and desire to push existing boundaries of décor allowed Candy & Candy to set a new bespoke luxury design standard in elite residential interiors, making the La Belle Epoque Penthouse a kind of modern equivalent of a historical palace fitting a Medici or a Versailles.'
But it is not without its modern touches.
Each suite in the two-floor flat is believed to come with its own cinema with screens that emerge from the walls, a kitchen and two bathrooms.
The property also has its own spa, library and a leisure room with billiard tables and arcade games.
Read more:
Monaco penthouse flat sells for £199 million - Telegraph
$323 Million La Belle Epoque Penthouse - Monte Carlo, Principality of Monaco
Dmitry Rybolovlev ordered to pay record amount to Elena Rybolovleva
Her delighted lawyer Marc Bonnant said figure was 'amicable settlement'
He said Mr Rybolovlev had 'put up strong resistance' by concealing assets
Pair had been together for 24 years but engaged in six-year court battle
Sum of £2.68billion is estimate of half the Russian oligarch's entire fortune
Bitter row involved two mansions in US and £100million Greek island
By Peter Allen for MailOnline
Published: 01:39 BST, 20 May 2014 | Updated: 17:22 BST, 9 June 2014
552
View
comments
A Russian oligarch ordered to pay out a world-record £2.7billion to his ex-wife views the settlement as a 'hammer blow' and may appeal, it emerged today.
Judges in Switzerland said Dmitry Rybolovlev, 47, has to give Elena Rybolovleva, who was with him for 24 years, a very precise 4,020,555,987 Swiss francs and 20 centimes.
In current sterling rates, this amounts to £2,681,297,538 and 78 pence - an estimate of half the Russian oligarch's entire fortune.
Marc Bonnant, Ms Rybolovleva's clearly delighted lawyer, said the figure represented an 'amicable settlement' after six years of tough negotiations.
Scroll down to see video
Monaco Football club's Russian president Dmitri Rybolovlev, pictured left, has been ordered to pay a world record divorce settlement of more than £2.6billion to his ex-wife Elena Rybolovleva, right
Dmitri Rybolovlev, left, who made his billions through a successful fertiliser business, must make the payment following a six-year court battle. He is pictured at an AS Monaco football match with a woman who is not his wife
But Mr Bonnant also admitted that it was 'the most expensive divorce in history' and that Mr Rybolovlev viewed the astronomical sum as a 'hammer blow'.
Mr Bonnant said the billionaire had 'put up strong resistance' and tried to conceal the full extent of his assets via offshore ventures.
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Previous
1
2
Next
Fancy living near David Cameron? Wealthy foreigners expected... Holiday home has INDOOR BEACH where visitors can even get a...
More than 100 women now on Rich List - but just TWO have...
Share this article
Share
The Geneva court's decision can now be appealed by Mr Rybolovlev, who met his wife more than 30 years ago when they were students in the Ural mountains.
It follow a six-year legal saga in which Mr Rybolovlev, who made his billions through a successful fertiliser business, bitterly contested Ms Rybolovleva's claims to two of the most expensive properties in the USA and a £100million Greek island.
Now Mr Rybolovlev must sign a cheque for the incredible sum in the Swiss city of Geneva, where Mrs Rybolovleva lives in a lakeside mansion.
Dmitry Rybolovlev owns Maison de l'Amitie, a 54,000 sq ft French Regency-style house, sitting on more than seven manicured acres of prime waterfront on the barrier island of Palm Beach, Florida
Dmitry Rybolovlev purchased Donald Trump's Maison de l'Amitie in Palm Beach, Florida, for $100million
Elena Rybolovleva alleged that her husband purchased this three bedroom plantation style property in Kauai in Hawaii from Will Smith for $20 million
Dmitry Rybolovlev bought the Greek island of Skorpios from the Onassis dynasty last year for a reported £100 million, again for his daughter, a socialite show jumper
The settlement is far higher than the £1.5 billion paid by art heir Alec Wildenstein to his ex wife, Jocelyne, which until now had been the largest confirmed public divorce settlement in the world.
Rupert Murdoch, the media mogul, was told to give his former wife, Anna, £1billion in 1999. He went on to marry his third wife Wendi Deng, from whom he is now divorced.
Mr Rybolovlev, who was found by the court to be worth £5.2 billion - although the figure is believed to be a conservative estimate of his wealth - and his ex-wife have been at war since 2008 over the terms of their divorce.
Ms Rybolovleva won custody of the couple's 13-year-old daughter Anna, along with Mr Rybolovlev's half of their former home in Cologny, an up-market neighbourhood of Geneva.
In 2012, Mrs Rybolovleva claimed a £50 million plus ownership of the New York penthouse which her ex-husband had bought for Anna.
The purchase of the penthouse from the former head of the Citigroup bank, Sandford I.Weill and his wife Joan, was at the time the most expensive home ever bought in New York City.
Dmitry Rybolovlev pictured left and right with his daughter Ekaterina Rybolovleva at the Global Champions Tour of Monaco
Watching the field: Rybolovlev is pictured with an unidentified woman at a gootball match in Saint-Etienne on March 1 of this year
A second occasion: Rybolovlev is pictured with an unidentified woman, who is believed to be the same companion as from the football match, at an event in Monte Carlo on May 17
In court papers filed in Manhattan, Ms Rybolovleva had said Mr Rybolovlev had been using marital property to buy a multitude of other assets through a variety of trusts and limited liability companies, hoping to put those assets beyond her reach.
Mrs Rybolovleva said these assets include his majority ownership of French soccer club AS Monaco, a $295 million stake in the Bank of Cyprus, and a $95million Palm Beach, Florida, home purchased from another tycoon, Donald Trump.
Mr Rybolovlev is one of the small group of Russians who became fabulously wealthy during the post-Soviet privatization of the economy and became known as oligarchs. He is the former owner of fertilizer business Uralkali.
Mr Rybolovlev also owns a £12million Hawaii mansion he bought from the Hollywood star, Will Smith, and La Belle Epoque penthouse in Monaco, where he lives, 해머캔디 for which he paid £178 million.
He bought the Greek island of Skorpios from the Onassis dynasty last year for a reported £100 million, again for his daughter, a socialite show jumper.
Beautiful: Dmitri Rybolovlev purchased a $88 million apartment on Central Park West for his daughter Ekaterina Rybolovleva - for her studies while at college in New York
Luxury: The 6,744 sq ft apartment boasts 10 rooms, a wrap-around terrace, library and seven walk-in closets
The island was made famous as the location of Aristotle Onassis's wedding to the former US First Lady, Jacqueline Kennedy, in 1968.
Mr Rybolovlev's wealth came from the sale of his stake in Uralkali, a Russian fertiliser business, for $6.5billion in 2010.
He went on to buy AS Monaco in December 2011, attempting to make the club as successful as Qatari-owned Paris Saint Germain.
Mr Rybolovlev, who lives in Monaco, also has an estate in the southern French resort of Saint Tropez and his assets include an art collection with paintings by Picasso, Van Gogh, Gauguin and Monet.
Since splitting from her husband, Mrs Rybolovleva has been followed almost round the clock by private detectives.
In February, she was questioned by police in Cyprus on suspicion of stealing a diamond ring reportedly worth £15 million, borrowed from her daughter but not returned, and which belonged to a trust.
She was released without charge.
The Russian oligarch has a majority ownership in AS Monaco, whose stadium is pictured. It plays in the French league but is actually based in the Principality of Monaco, close to two of its marinas.
She was by Mr Rybolovlev's side as he rose from a doctor-turned-entrepreneur into a stockbroker and banker, before becoming chairman and majority shareholder of Uralkali.
They stayed together during his 11 months in jail - when he was accused of murdering a competitor before the charges were dropped - and when threats on his life led him to wear a bullet-proof vest and move his family to Switzerland.
He was said to be stunned when he found out about the divorce petition on New Year's Eve 2008 from his bankers, after his accounts were frozen.
In that petition, the then Mrs Rybolovleva said she could no longer take his infidelities, describing parties on yachts where, she said, he had shared some 'young conquests with his friends, and other oligarchs'.
RYBOLOVLEV'S MONACO PENTHOUSE WITH A MACABRE PAST: £180M FLAT WAS SCENE OF ARSON ATTACK THAT KILLED PREVIOUS BILLIONAIRE OWNER
The sumptuous Monaco penthouse where Russian oligarch Dmitry Rybolovlev lives was once the scene of an arson attack that killed a previous billionaire owner.
The 17,500 sq ft flat La Belle Epoque, which was bought by Mr Rybolovlev for £178million, is not only the largest in Monaco, but also offers stunning views over the Mediterranean.
It was previously owned by Sheikh Mohammed bin Rashid Al-Maktoum of the Dubai Royal Family who paid some £200million in 2010, then believed to be the most expensive residential property sale ever.
The beneficiaries of that transaction were British property developers Nick and Christian Candy, who are thought to have made a profit somewhere in the region of £155million.
That was in despite of its macabre history.
For the brothers had bought the property in 2006 from the widow of billionaire Lebanese banker Edmond Safra, who was killed inside the flat in an arson attack.
Mr Safra, 67, was found dead alongside his nurse in a locked security room after a fire was started by his servant, a former Green Beret special forces soldier who was jailed for 10 years.
The servant claimed he started the blaze so he could then save Mr Safra and gain the plaudits.
The Candy brothers reportedly paid £10-£15million for the penthouse in 2006 then spent around £30million on an 18-month renovation in their signature Candy & Candy style.
According to The Pinnacle List: 'The pioneering confidence and desire to push existing boundaries of décor allowed Candy & Candy to set a new bespoke luxury design standard in elite residential interiors, making the La Belle Epoque Penthouse a kind of modern equivalent of a historical palace fitting a Medici or a Versailles.'
But it is not without its modern touches.
Each suite in the two-floor flat is believed to come with its own cinema with screens that emerge from the walls, a kitchen and two bathrooms.
The property also has its own spa, library and a leisure room with billiard tables and arcade games.
Read more:
Monaco penthouse flat sells for £199 million - Telegraph
$323 Million La Belle Epoque Penthouse - Monte Carlo, Principality of Monaco
