Russian billionaire loses 40% wealth after divorcing Putin’s daughter

Russian billionaire loses 40% wealth after divorcing Putin's daughter

Moscow, January 28: Russia’s youngest billionaire, Kirill Shamalov has lost 40% of his wealth after divorcing Katerina Tikhonova, the daughter of Russian President Vladimir Putin.

According to reports, the wealth of Shamalov was almost reduced to half, his net worth fell from $1.3 billion to $800 million. The 35-year-old businessman married Putin’s daughter in 2013, and ever since the marriage, his profit was on a steady rise. His company received a funding of $2 billion in shares and he was also offered a lucrative post at Sibur, Russia’s leading petrochemical and gas processing company.

The divorce rumors has incurred more than financial loss to Shamalov, he is reportedly demoted from his position as deputy chief executive at Sibur.