Another Billionaire Preparing To Flee Russian Federation

He has sold one of his last assets.

Billionaire Mikhail Prokhorov, who is number 11 on Forbes' list of the richest Russians, continues to get rid of his assets in Russia.

According to RBC, Prokhorov's Onexim Group has closed a deal to sell its Russian business to Renaissance Capital Investment Group. One of the oldest investment companies in Russia, 100 per cent owner of which Prokhorov had been since 2012, was taken over by the top management.

The deal included the group's key assets - Renaissance Capital - Financial Advisor, Renaissance Broker and RenCap management company.

A former presidential candidate who gained almost 8 per cent in the 2012 election, Prokhorov began disposing of assets in Russia shortly after the annexation of Crimea and the first wave of Western sanctions.

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