Three Russian Billionaires Step Down From Positions Following Russian Invasion Of Ukraine
After Russia has invaded Ukraine, three Russian billionaires have resigned from the board of a $22 million investment firm.
On Monday, German Khan, Alexei Kuzmichev, and Andrei Kosogov all left their positions with London-based LetterOne. This comes subsequent to the company freezing out Mikhail Fridman, a Russian businessman from Ukraine. Petr Aven, a Russian businessman and a part of Putin’s inner circle, has also been hit by western sanctions. They were also prohibited from coming into their buildings and speaking with employees.
“None of these three individuals has been sanctioned. But, they believe this is the right thing to do in the long-term interest of LetterOne, its employees, and the many jobs it supports in its portfolio companies,” the firm said in a written statement.
Khan 60, is a co-founder and has called for a cease of the war.
“The majority of LetterOne founders have deep roots in Ukraine. The destruction of the cities where I spent my childhood and which are home to the graves of our ancestors is heartbreaking,” stated Khan who is worth nearly $7 billion.
Kuzmichev, 59, is the co-founder of Alfa-Bank, the largest private bank in Russia. He is worth over $5 million.
Kosogov, 60, is on the board at Alfa. He is valued at $1.2 billion.
LetterOne is planning to send $150 million to assist the people of Ukraine.
