Gennady Timchenko Assets : Wealth Shifts, French Properties, and Yacht LENA OF $17.5 Million
Overview of Gennady Timchenko
- Gennady Timchenko holds significant stakes in Russian enterprises, including Novatek and Sibur Holding.
- He initially managed a state-owned oil exporting company and later became one of its major shareholders during privatization.
- In the 1990s, Timchenko, along with the Rotenberg brothers, founded a judo club called Yavara-Neva in Saint Petersburg.
- A prominent figure in Russia, Timchenko formed a connection with Vladimir Putin during this time.
- He faced sanctions from the U.S. in 2014 and later from the EU and the U.K. in 2022.
- Despite international scrutiny, Timchenko continues to serve as the chairman of the Russian national hockey league, the KHL.
- Additionally, he holds the position of president at the SKA Saint-Petersburg Hockey Club
Diverse Portfolio of Gennady Timchenko Assets
Luxury Properties in France
Gennady Timchenko, a Russian oligarch and billionaire businessman, owns several luxury properties in France, including:
Paris Apartment
Gennady Timchenko, a Russian billionaire and oligarch, possesses a high-end residence in the heart of Paris at 15 Avenue Foch, a stone’s throw from the iconic Arc de Triomphe. This esteemed location boasts proximity to renowned landmarks worldwide. Timchenko and his wife Elena, who also own a home in Le Lavandou, France, are joint owners of the apartment.
Le Lavandou Home
Timchenko’s wife, Elena, owns two properties at Avenue du Cap Nègre in Le Lavandou on the French Riviera. The couple also owns an estate in Saint-Raphaël on the French Riviera
Le Club de Cavalière
Elena owns a majority stake in Sogeco, a French firm that owns Le Club de Cavalière, a 5-star hotel and spa with its own private beach in Le Lavandou on the French Riviera.
Yacht “LENA”
The luxury yacht “LENA” is the epitome of opulence and outstanding performance. Crafted by Sanlorenzo and envisioned by Francesco Paszkowski in 2010, this 38.5m (126’4″) motor yacht stands as a true work of art. Boasting an aluminum hull and superstructure, it is propelled by 2 MTU engines, enabling a remarkable top speed of 28 knots. A 16-person crew is meticulously in charge of the yacht, which can accommodate up to 12 guests. Valued at $17.5 million, the LENA yacht promises an unrivaled experience in the realm of luxury yachting.
In 2009, Russian billionaire Gennady Timchenko discreetly acquired the Lena yacht for over $18 million through an offshore entity. An agreement between Timchenko’s offshore company and Italian shipbuilder Sanlorenzo SPA connected the vessel.
Timchenko’s wife, daughter, and son-in-law, Gleb Frank, were all sanctioned by the U.S. Treasury in 2014. Despite this, they retained authorization to use the Lena, emphasizing the complex nature of the ownership structure.
Timchenko’s acquisition journey involved collaboration with various entities, including law firms in the British Virgin Islands and the United Kingdom, Italian shipbuilders, and Monaco-based bankers. A trust agreement from 2009 revealed Timchenko’s control over the BVI shell company, the registered owner of the yacht, according to public records.
The company granted exclusive usage rights of the Lena to Timchenko, his friends, and his family for leisure purposes. This insight into the yacht’s ownership and usage highlights the intricate web of international transactions and legal structures employed by Timchenko in securing this luxurious asset.
Private Jets and Helicopters
Billionaire Gennady Timchenko, known for his close ties to Russian President Vladimir Putin, encountered challenges with his private aviation assets due to sanctions. In 2014, following U.S. government sanctions, Timchenko sold his Gulfstream G650 jet, acquired in 2013. The sale was a response to the sanctions, rendering the aircraft unusable for him. Ownership of the Gulfstream jet was later transferred to a subsidiary of Russia’s sovereign wealth fund, the Russian Direct Investment Fund (RDIF).
What is the estimated value of Gennady Timchenko’s assets ?
Gennady Timchenko’s net worth has experienced fluctuations over the years. In 2012, it was valued at a staggering $24.61 billion. However, as of March 2022, reports suggested a decrease to $10.3 billion, and by 2023, his estimated worth rebounded to $14.3 billion. These assessments encompass his diverse portfolio, spanning business assets, investments, and notable properties, such as a residence in Geneva, Switzerland, and the opulent yacht “Lena,” acquired for $18 million in 2009.
Timchenko’s involvement extends to France, where he holds up to three distinct properties. These include an upscale apartment in Paris and estates situated in Le Lavandou and Saint-Raphaël on the French Riviera. Notably, his engagement in the French real estate market has faced scrutiny, with authorities freezing both homes in Le Lavandou.
