Who is Oleg Tinkov? Ex-Russian billionaire claims he lost $9 billion in a day for an Instagram post

A former Russian banking tycoon has claimed he lost $9 billion in one day because of a single Instagram post in which he opposed Moscow’s attack on Ukraine. The 2022 crunch forced him to sell his stake in Tinkoff Bank at a staggering discount, effectively costing him nearly his entire fortune as his multi-billion dollar fortune vanished in a day.

One BBC Oleg Tinkov said in his interview in 2022 that he published the post condemning the Ukrainian war in April 2022. He told the publication that within a day, Kremlin-linked officials contacted his bank’s top officials with a shocking ultimatum, effectively prompting him to sell his assets and exit Russia.

Who is Oleg Tinkov?

cOleg Tinkov was one of the richest people in Russia, a banking tycoon and entrepreneur. Oleg Tinkov founded Tinkoff Bank in 2006 and was once one of Russia’s richest bankers.

Before founding Tinkoff Bank, frozen food maker Daria founded Tinkoff Beer and Tinkoff Restaurants, according to Forbes.

He sold his alcohol business to InBev in 2005 and the following year founded what has now become one of the largest online banks in the world.

Following his alleged dispute with the government, Tinkov said he sold his 35% stake in Tinkoff Bank for just 3% of the valuation BBC. He later left Russia and later renounced his citizenship in the country.

What happened to Oleg Tinkov?

In April 2022, Oleg Tinkov openly attacked Russia’s war against Ukraine and condemned the conflict as “crazy”.

According to Hindustan Times, he claimed that 90 percent of Russians were against the war and called the remaining 10 percent “morons.”

“I don’t see a SINGLE benefit from this crazy war!” According to, he wrote in Russian in the post CNBC. “Innocent people and soldiers are dying. The generals woke up from a hangover and realized they had a shitty army.”

“How will the army be good if everything in the country is contaminated with nepotism?” he said.

A day later, officials he claimed were linked to the Kremlin called Tinkoff Bank’s top executives and told them that the bank would be nationalized unless all ties with its founder were cut.

“I can’t discuss the price,” Tinkov said. New York Timesaccording to BBC report.

“It was like a hostage; you take what you’re offered. I couldn’t negotiate,” he added.

A week after the ultimatum, Tinkoff Bank was sold to a company linked to metals billionaire Vladimir Potanin. The bank was sold for much less than its value, and Oleg Tinkov sold it for $9 billion a day.