this post was submitted on 07 Jul 2025
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Vladimir Putin’s government has launched an aggressive campaign to nationalize the assets of Konstantin Strukov, one of Russia’s richest men and the owner of the country’s largest gold mining company. The move marks a sharp escalation in the Kremlin’s efforts to extract wealth from within its own elite as the financial toll of the war in Ukraine deepens.

Strukov, whose fortune is estimated at over $3.5 billion, is the founder of Yuzhuralzoloto—a gold empire built over decades with strong ties to the Kremlin. But on July 5, his private jet was grounded by Russian authorities as it prepared to leave for Turkey. His passport was reportedly seized, and the aircraft barred from departing.

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[–] finitebanjo@lemmy.world 5 points 2 hours ago

And let this be a lesson to US Billionaires.

[–] oppy1984@lemdro.id 5 points 3 hours ago* (last edited 15 minutes ago)

Somebody didn't watch Rules for Rulers, keep your elite happy or they'll come together and turn on you.

Fingers crossed.

[–] WiseScorpio@lemmy.world 13 points 6 hours ago

Strukov is about to suffer the effects of defenestration.

[–] McDropout@lemmy.world 16 points 6 hours ago

It’s giving Elon-Trump vibes

[–] some_guy@lemmy.sdf.org 32 points 10 hours ago (2 children)

Strukov’s company has denied the incident entirely, stating that he was in Moscow on the day in question and calling the reports “disinformation.” But court documents confirm that a judge had already banned him and his family from leaving the country, and government agencies moved quickly to enforce it.

I will now recommend the Sad Oligarch podcast. Short series on the mysterious deaths of Russian oligarchs in the last few years.

[–] Tollana1234567@lemmy.today 1 points 3 hours ago

defenestration podcast.

[–] AnarchistArtificer@slrpnk.net 2 points 3 hours ago

A friend of a friend is the daughter of a Russian oligarch. It was a messy situation in which she was at risk of being drawn into the politics, even though her dad was an asshole who she would've been glad to see defenestrated. I only know the surface level info, but it sounds like a fucked up situation in many ways

[–] HubertManne@piefed.social 97 points 12 hours ago (4 children)

This is a pretty good example of why I say even millinoaires and billionaires should support a functional democractic society with taxation and regulation and social safety nets. Its the old penny wise and pound foolish. Getting a sliver more and a sliver more and then you lose it all because the rule of law was thrown out long ago. It won't necessarily take that long to. At a certain point it could happen at any time. Maybe it will. Maybe it won't.

[–] driving_crooner@lemmy.eco.br 1 points 2 hours ago

Or you end being shoot on the street and the entire world celebrates it.

[–] HailSeitan@lemmy.world 2 points 3 hours ago

Hamilton Nolan has made a similar argument

[–] SoftestSapphic@lemmy.world 47 points 11 hours ago (1 children)

This all depends on the people born into wealth being reasonable people.

Most are unhinged psychopaths or nepo babies with too much ego.

Which is why wealth needs to be forcefully redistributed, they won't do it voluntarily.

[–] Triasha@lemmy.world 7 points 6 hours ago

Wealth is actually being redistributed quite a bit in Russia right now. The oligarchs are paying for the war and "the people" are getting much higher wages either in the military or because of labor shortages.

It's not great, what with all the death and destruction. But Russians gini coefficient is going down fast.

[–] burgerpocalyse@lemmy.world 25 points 11 hours ago (2 children)

a functional democratic society would not have billionaires and hopefully millionaires neither

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[–] hansolo@lemmy.today 18 points 10 hours ago

Ooooh, gringo broligarchs, cast your eyes upon all the fucks left to give, and see that $Trump wallet may also be empty.

[–] bytesonbike@discuss.online 154 points 14 hours ago (6 children)

Billionaires siding with dictators thinking they'll be protected?

[–] pelespirit@sh.itjust.works 87 points 14 hours ago (2 children)

It's funny to me that they think they'll be special, every single time. "They won't throw me out the window for my fortune!"

[–] Saleh@feddit.org 19 points 10 hours ago (2 children)

Well, in the case of Nazi Germany it worked spectacularly well. Many of Germanys most rich people are inheritors to industrial fortunes that got unimaginably rich with selling weapons to the Nazi army and using forced labor from the concentration camps. The families Quandt/Klatten (BMW) and Porsche/Piech (Porsche,VW, Audi...) come to mind directly. The Krupps are also still in the game although they have gambled a lot of money away over the past decades

[–] NewNewAugustEast@lemmy.zip 2 points 4 hours ago

It is worth mentioning that in the case of krupps they made a lot of money selling arms in WWI and they purchased newspapers to sell the war to increase profits.

Own all the newspapers... Propaganda... Seems familiar.

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[–] Nougat@fedia.io 39 points 14 hours ago (2 children)

Leopards Throwing Out Of Windows Party

[–] Tollana1234567@lemmy.today 1 points 3 hours ago

defenestration

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[–] mgnome@piefed.social 8 points 10 hours ago (1 children)

Some folks became billionaires in Russia simply because they were friends of Putin though.

These may truly be protected class. Everyone else though - out the window as soon as they outlive their usefulness.

[–] Tollana1234567@lemmy.today 2 points 3 hours ago

russian oligarchs are only useful as a personal piggy bank for putin, he distributes the wealth around and then siezes it back down the line.

[–] dangling_cat@piefed.blahaj.zone 18 points 13 hours ago

Nah. They all play this game; they all know the risk. It’s all about gaining leverage and the correct alignment at the right time.

He probably knows it’s happening and sacrifices himself for his family and assets.

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[–] pawnfuture@lemmy.world 30 points 12 hours ago

This is the oligarchy that American technocrats want to recreate at home. Owning things is dependent on being alive. Maybe paying a couple percent extra on taxes is worth it.

[–] Rentlar@lemmy.ca 10 points 10 hours ago

If you nationalize your industry, you should be doing it to reform and re-gear it to support your country.

Clearly, Putin here is not interested in making it good for the country, but that his petty war has him cash-strapped and needs to forcibly 'borrow' his billionaire friends' assets.

[–] newthrowaway20@lemmy.world 62 points 14 hours ago* (last edited 14 hours ago) (20 children)

The USA elite should take notice. It'll happen to them too. Trump will ruin them if things get between himself and them.

[–] PalmTreeIsBestTree@lemmy.world 21 points 13 hours ago (3 children)

It’s all ready happening between him and Musk unless that’s all kayfabe

[–] Olhonestjim@lemmy.world 1 points 2 hours ago

Neither of them has the chops to pull off such an act. They're genuinely horrible idiots.

[–] bytesonbike@discuss.online 5 points 7 hours ago (1 children)

I'm really excited for Zuckerfuck to get Trump'd. Unlike Musk, he'll do it in the most pathetic way... Raging like a little nerd by writing private temper tantrum emails and everyone in his circle comforts him because he pays them 7-figures.

[–] jaybone@lemmy.zip 6 points 7 hours ago

Tbf, musk’s way is also pretty pathetic.

[–] jaybone@lemmy.zip 1 points 7 hours ago

You mean covfefe?

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[–] ddplf@szmer.info 46 points 14 hours ago (1 children)

It's funny because $3.5bln is nothing when trying to cover the war effort, but it'll spark a massive distrust in the Kremlin's inner circle, which is basically the only group of people that can realistically threaten Putin's very life.

[–] Diplomjodler3@lemmy.world 22 points 13 hours ago* (last edited 13 hours ago) (1 children)

I'm still waiting for these fuckers to finally grow some balls.

[–] TankovayaDiviziya@lemmy.world 11 points 12 hours ago (3 children)

Nah. Russia will implode itself on its own even without resistance. As if Russia never learned anything that autocratic control over economy never works, because their political culture is too corrupt to function effectively.

Francis Fukuyama, as wrong as he was about the end of history, is still correct that dictatorships eventually collapse because they surround themselves with yes men who are too detached from reality. The invasion of Ukraine is the beginning of the end for Putin. It is only a matter of time.

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[–] MushuChupacabra@lemmy.world 30 points 14 hours ago (9 children)

Conversely, if Putin falls out a window, maybe they can keep their business.

[–] Tollana1234567@lemmy.today 1 points 3 hours ago (1 children)

putin is paranoid enough not to go any windows, he often only ventures from his PALACES under fsb protection to a room where he has 20m table away from his inner circle.

[–] Olhonestjim@lemmy.world 1 points 2 hours ago

His guilded prison.

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