In a stunning revelation that underscores the severe consequences of dissent in modern Russia, former banking magnate Oleg Tinkov has disclosed that a solitary social media post condemning the war in Ukraine led to the catastrophic loss of nearly $9 billion of his wealth. The founder of Tinkoff Bank was compelled to sell his stake for a mere fraction of its value following direct threats from Kremlin-linked officials.
The Costly Instagram Post That Changed Everything
Oleg Tinkov, once counted among Russia's wealthiest financiers, saw his fortunes reverse dramatically in April 2022. He took to Instagram to label the ongoing conflict as "insane" and launched a scathing critique of the Russian military, describing it as poorly equipped and riddled with corruption. In his post, Tinkov asserted that 90% of Russians opposed the war, branding the remaining 10% as "morons." He passionately called for an immediate and "face-saving" cessation of hostilities.
The repercussions were swift and brutal. In a statement to the BBC, Tinkov explained that within 24 hours of the post, senior executives at his bank received an ultimatum from officials connected to the Kremlin. The choice presented was stark: either Tinkov divest his ownership and have his name stripped from the brand, or the government would seize control of the financial institution, which was then one of the nation's largest lenders.
A Forced Sale Under Duress
Tinkov described the ensuing process not as a negotiation but as an action performed under extreme pressure. He stated he was given no room to bargain on the price for his approximate 35% stake in TCS Group, the parent company of Tinkoff Bank. The alternative was to forfeit everything. "I couldn't negotiate the price. I was like a hostage," he told the BBC.
Complying with the demands, he sold the stake in April 2022. The buyer, within a week, was a firm associated with Vladimir Potanin, a metals tycoon, one of Russia's richest individuals, and a key supplier of nickel for military hardware. The deal valued Tinkov's holding at just about 3% of its true market worth, effectively erasing almost $9 billion of capital built over decades.
Life in Exile and a New Beginning
Following the forced sale, Tinkov departed Russia and eventually renounced his Russian citizenship. He emerged as one of the very few prominent business figures to publicly challenge the Kremlin's stance on the war. He reported that the campaign against him extended beyond the financial takeover, involving concerted efforts to erase his legacy from the bank he founded and to diminish his role in its creation.
This episode, according to Tinkov, highlights the rapid enforcement of loyalty demanded from wealthy Russians who deviate from the official line. Public criticism of the invasion, even from an architect of Russia's consumer banking growth, was treated as a direct challenge to state authority during wartime. His case draws parallels with that of former oil billionaire Mikhail Khodorkovsky, who was imprisoned for a decade and now also lives in exile in London.
After several years away from the spotlight, Tinkov has recently reemerged in 2025 as a backer of Plata, a Mexican fintech company led by former top executives from Tinkoff Bank, marking a new chapter in his entrepreneurial journey far from Russia.
