Russian oligarch proudly disclosed their hidden ownership of Forbes Media Group

Secrets exposed: A Russian oligarch breaks silence on their covert ownership of Forbes Media Group

Russian oligarch Magomed Musaev, a billionaire with ties to the Kremlin who also owns Forbes Russia, informed associates that he was responsible for acquiring the Forbes Media Group. In June, Musaev announced to his associates, as per Russian oligarchs The Washington Post, that he had personally orchestrated the acquisition of the Forbes Media Group, characterizing it as an unparalleled business opportunity.

“I just bought global Forbes,” Musaev reportedly told one of his associates, referring to the Forbes Media Group, which includes the US edition of the magazine.

“You understand when you have in your hands the key to the most authoritative global brand, this key will give me access to anyone,” he said.

Russian oligarch Magomed Musaev
Russian oligarch Magomed Musaev

The recordings indicate that Musaev consistently reiterated this point. Musaev emphasizes the need to maintain secrecy about his own participation in the video footage that the Washington Post has obtained, referring to tech entrepreneur Austin Russell as the main driving force behind the agreement.

In a statement provided to The Post, Russell refuted any participation by Musaev or any Russian individuals in the transaction.

“Musaev has no involvement whatsoever in the Forbes transaction. Any suggestion to the contrary is false. There is not a single dollar of capital from any Chinese or Russian citizen or entity, including Musaev,” said a spokesperson for Russell.

Russian oligarch proudly disclosed their hidden ownership
Russian oligarch proudly disclosed their hidden ownership

Musaev initially informed The Post that any insinuation of his influence over the transaction was “completely absurd” and a “gigantic fabrication,” emphasizing that “there is no record of my involvement in any written form within the [deal] documents.” The Post noted that he refuted the possibility of having informed his colleagues about acquiring Forbes but remained unresponsive to follow-up inquiries regarding the recorded tapes.

Musaev had involved Russell in the Forbes
Musaev had involved Russell in the Forbes

In May, Axios, citing two undisclosed sources, disclosed that Musaev had involved Russell in the Forbes acquisition process, even though it did not explicitly label Musaev as an investor or purchaser. During interviews with The Post, two executives who are familiar with the situation reiterated this information.

Dmitry Ozman, the Development Director of Forbes Russia, informed RBC that no information is available to suggest that Musaev has obtained ownership of Forbes Media Group.

“Among other things, I’m in charge of PR for Forbes Russia, and we know nothing about the deal. He [Musaev] has not commented on this in personal conversations,” Ozman said.


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