In the families of billionaires accumulate a huge amount of valuable assets. In the case when they need to be preserved or protected from the control of the authorities, family ties become not only moral but also economic value. The family circle is used by oligarchs for dividing capital, saving savings and transferring them.
The division of assets usually takes place in the process of the dissolution of the family of a businessman. Upon the dissolution of the marriage, the spouses of oligarchs are usually content with compensation in the form of a large amount of money. However, some of them claim to be part of the business.
The brightest examples of such a struggle were the war of the four Mordashovs for the actions of Severstal and the intention of the ex-wife of Vladimir Potanin to sue half of his Cyprus offshore companies. However, both attempts ended unsuccessfully. In the case when capital must be taken out of the hands of a businessman, but at the same time left under its actual control, family ties also come in handy.
That is what prompted Oleg Deripaska, who fell under US sanctions, to transfer part of his offshore assets to his daughter and son. Since children are minors, legal representatives – their parents – will dispose of the shares on their behalf.
Civil servants (for example, public servants) face another problem. Keeping control over assets they need to hide. In this case, the capital is sent to trust management.
That is how Donald Trump, Petro Poroshenko, and Igor Shuvalov act.
Another convenient and much more reliable way of secretly controlling capital is their transfer to family members. Since the officials may not declare the property of parents and adult children, it is to them that the business of the country’s leadership is most often transferred.
So did the representative of Dagestan in the Federation Council Suleiman Kerimov, State Duma Deputy Andrei Skoch and many others. Thus, with the growth of capital, family values are transformed into business ones.