Russian businessman Rybolovlev sells Trump’s Florida estate

Russian businessman Rybolovlev sells Trump’s Florida estate
Dmitry Rybolovlev

The businessman bought the $95-million estate in Palm Beach in 2008. Dividing it into three parts and selling them separately, he earned about $13 million.

Businessman Dmitry Rybolovlev has sold the plots, into which he divided the former estate of US President Donald Trump in Palm Beach, Florida. This is reported by Mansion Global

According to the portal, at the auction, the last lot was sold for $37.3 million (a year ago, it was put up for sale for $42 million). The other two sites were previously sold for $34.4 million and $37 million, respectively. 

Rybolovlev's representative refused to comment on the situation, confirming to RBC that the deal had been made.  

The businessman bought Trump’s estate worth $95 million in 2008. A friend of Rybolovlev’s family told RBC that it was purchased by him and his wife, Elena, as a family residence, but at the end of the same year, Rybolovleva filed for divorce and seized the real estate, so it was empty for many years. When the divorce proceedings were over, Rybolovlev decided to sell the estate. On the recommendation of consultants, the mansion located in the territory was demolished, and the estate was divided into three sections. Thus, he earned $13 million extra.

The 2008 deal was closely followed by media because of its Russian track, the Rybolovlev's family friend added. According to him, the first two plots were sold relatively quickly after they were put up for sale. However, the third one, which was put up for sale after Trump came to power, did not have a buyer for a long time. 

In 2017, Senator Ron Wyden sent a letter to the US Treasury Department requesting to verify the deal between Trump and Rybolovlev. In his letter, Wyden was outraged by the fact that in 2004, Trump bought the plot with a mansion in Florida for $41.35 million and sold it twice as expensive four years later. 

Forbes estimates Rybolovlev's fortune at $6.8 billion; he ranks 17th in the Russia's richest businessmen list.

Discuss

Recommended

1 / 3