Russian billionaire Avdeev is selling his property for the sake of his family - leaving Russia and business behind

Russian billionaire Roman Avdeev has pulled out of his Russian business ventures to prioritize family time with his 23 children.

By selling his stake in Rossium Group to Sergei Sudarikov, a prominent Russian entrepreneur and financial services expert, Avdeev marks a complete divestment of Russian assets, declaring a shift to personal goals instead of corporate ambitions.

Key points:

Major sale: Roman Avdeev sells the remaining stake in Rossium Group to Sergei Sudarikov, marking a complete exit from Russian business assets.

Family first: Avdeev, the father of 23 children (19 adopted), declares his intention to focus on family and personal life.

Strategic partnership: The sale completes a long-term partnership with Sudarikov, which began in 2019 with a memorandum of cooperation.

Reference: Avdeev, whose net worth is estimated at $1.2 billion, made his fortune from businesses in the banking sector, agriculture, real estate and pharmaceuticals.

Brief description:

Roman Avdeev, known for his significant fortune and a wonderful family of 23 children, decided to put his personal life above business. Having completely divested himself of Russian assets, Avdeev sold his shares of Rossium Group to billionaire Sergei Sudarikov, ending a partnership created in 2019. Avdeev, whose business journey began in the turbulent 1980s, is now stepping away from business to devote himself to his family and “other significant areas” not related to business.

As Russian billionaires change focus or exit the local market, it is worth paying attention to the strategic implications and potential changes in business dynamics among remaining stakeholders.