Thursday, 12 Mar, 2009 Politics

Richest Woman in Russia Seeks State's Help


Yelena Baturina is the richest woman in Russia. She is a billionaire, who managed to make her fortune out of different construction projects in Russia's capital, Moscow, where her husband works as the mayor.

Currently she asked for government help due to the fact that her construction company faces an increasing debt. It was reported that Ms Baturina seeks around GBP1 billion ($1,379,050,000) in state guarantees as the billionaire struggles to refinance loans that her firm, Inteko, took.

Russian newspaper Kommersant reported that Ms Baturina decided to offer a share in her company for state's help. The paper also wrote that Inteko has to return 34 billion roubles (about $967,3 million) to Russian banks, reports Times Online.

The 46-year-old former factory worker gathered huge wealth during the construction boom in Moscow. She is the second wife of the capital's powerful mayor, Yuri Luzhkov. Last year Forbes estimated the wealth of Ms Baturina at $4.2 billion. Last month Finans magazine made a list that catalogued the collapsing fortunes of Russian oligarchs and put the wealth of Ms Baturina at $1 billion.

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43 votes

//3 Mar 11, 2010 06:12 AM | posted by: [InfoKID]
wow!! why is she seeking for more money, i thought she is the wealthiest woman in the city.
47 votes

//2 Feb 12, 2010 05:52 PM | posted by: alcotrazz [InfoMANIAC]
she's a beaty, isn't she :)
49 votes

//1 Nov 03, 2009 12:05 PM | posted by: alcotrazz [InfoMANIAC]
that's a great way to do business! you marry the mayor of the city, where you are going to operate, and that's it... you have a lobbyist in the citys' government...

"Hey! I said let her work!" shouted the mayor on the government's session and the firm anihilated the kindergarden for a beatiful shopping mall... (this dialogue is my fictional story, but who knows.. maybe it did take place)

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