The Instagram Post That Cost Oleg Tinkov $9 Billion

One post on Instagram changed everything. A Russian banking magnate lost ₹80,915 crore and his citizenship because of it. Former Russian banking billionaire Oleg Tinkov says speaking out against the war in Ukraine cost him nearly $9 billion after he was forced to sell his company for almost nothing. He describes it as a “hostage situation” and says it exposes how Russia deals with powerful figures who step out of line. Tinkov founded Tinkoff Bank, one of Russia’s largest private banks. For years, he was held up as a symbol of modern Russian business success. That image collapsed in April 2022.

Tinkov posted a message on Instagram calling the war in Ukraine “insane”. He criticised the Russian army and said the country was paying a heavy price for the invasion. He also claimed that most Russians did not support the war. Within a day, Tinkov says the pressure began. Senior executives at his bank were contacted by people linked to the Kremlin. The message, according to him, was blunt: either sell his stake and remove his name from the bank, or the state would take it over. There was no room to negotiate.

Tinkov owned around 35% of the bank’s parent company. He says he was told to accept whatever price was offered or risk losing everything. He later described himself as a hostage, forced to choose between a disastrous deal and total destruction. Soon after, a company linked to billionaire Vladimir Potanin bought Tinkov’s stake. Tinkov says the sale valued his shares at just three percent of their real worth. In a matter of days, he claims, nearly $9 billion in wealth vanished. After the deal, Tinkov left Russia. He later gave up his Russian citizenship and accused the authorities of trying to erase his name from the bank he built.

A BBC report points out that since the war began, most of Russia’s richest figures have chosen silence. Those who did speak out against the invasion were effectively pushed out, leaving behind not just their country but large portions of their wealth as well. What happened to the former oligarch isn’t an isolated case. Analysts say it reflects a broader trend, where the Kremlin keeps the country’s richest figures in line using both pressure and incentives. With sanctions, wartime restrictions and the constant risk of assets being taken away, staying wealthy in Russia now depends heavily on staying loyal. At the same time, as Western companies leave, those close to the leadership get the chance to buy valuable businesses at low prices.