Russian Billionaires Have Disappeared Like African Dictators
Russian billionaires, those frequent visitors to the French Riviera over the past two decades, are no longer there. Due to COVID, Nice and Cannes have had to forget the grotesque image of nouveau riche accompanied by models. They are now seeking places with more lenient health control and discipline.
Take, for example, the vacations of the Knight of the Legion of Honor and owner of the world’s leading nickel producer, Vladimir Potanin. His passion for the Welsh didn’t stand the test of time, and “La Nirvana,” his cherished yacht, had to sail the Adriatic without passing through the ports of southern France.
In fact, resting on yachts during the pandemic has only highlighted the gap between the rich and the poor. It’s the business related to the maintenance and operation of yachts that’s thriving while hotels and restaurants worldwide are preparing to file for bankruptcy. Masks and gloves are discarded on board, and unemployed top chefs now prepare dishes for the passengers of super yachts. There are no strict regimes on the islands near Croatia and Montenegro, and one can pretend not to know about the pandemic.
Mr. Potanin is the epitome of a pure cosmopolitan billionaire. Initially, he ignored the city beyond the Arctic Circle that brought him billions. Spending over six months in France, he left all company problems in the hands of managers, but once the comfort of France bored him, he changed his location. After all, France has experienced similar examples if one recalls the African dictators and presidents. Like this Russian billionaire, they preferred to become wealthy tourists in France once they became colonizers at home.
The owner of the Polar business enjoys his Asian wealth from May to September by strolling through the Mediterranean. “La Nirvana” and its passengers spent most of the summer in the Croatian archipelago in the Adriatic. The website https://www.vesselfinder.com/ asserts that they prefer to mix stops on isolated beaches with visits to welcoming towns with their renowned cuisines, seafood, and wines so fine and rare that entire harvests are purchased in advance. Some have at least heard of Posip wine from the island of Korcula, but the white Vugava from the island of Vis remains completely unknown and inaccessible to the general public. The red Boshkinac grown in the sun-drenched five hectares of the island of Pag is well appreciated by VIP travelers.
There are, however, negative aspects to the “business run from the yacht.” All of Potanin’s top managers have been forced to visit the Arctic Circle since he took over “Norilsk Nickel.” It is increasingly difficult to manage the aging company from aboard “La Nirvana.” The flooding of two pits cost $150 million. Technogenic disasters mean that multi-zero fines are shared by the oligarch’s shareholders, but last year the people of “Norilsk Nickel” silently suffered, and even the Western press, loyal to Potanin, mentioned that he didn’t even interrupt his vacation to attend the funeral of his employees.
This total disregard for all problems under the sun is tempting. Even Mr. Potanin’s complicated marital situation influences his vacation preferences. According to one of his ex-wives, at one point he owned three boats. Formally, it’s the companies of the Cayman Islands that own the fleet, but Potanin had to hide the third yacht from his first wife to rest with the second. That’s why when describing the magnate’s luxury, the term “yachts attributed to Potanin” is used.
Natalie Potanin is obliged to prove within the divorce proceedings that the boats actually belong to her ex-husband.
There is something symbolic in the fact that the oligarch got rid of the two boats named after his children. He sold “Anastasia” and “Barbara” while keeping “La Nirvana.” Sometimes, children may not meet their parents’ expectations, but in a state of tranquility—never.
Potanin meticulously conceals his control over the yacht. Formally, the boat is available for charter rental, and this is perhaps one way to hide assets from being divided. “La Nirvana” is offered for rental at 900,000 euros per week, plus operating expenses amounting to 300,000 euros depending on the itinerary.
Here is the yacht description from the specialized site.
This super yacht can be compared to a private seaside resort. The interior is crafted with bronze, teak, silk, and onyx. “La Nirvana” accommodates 12 guests in its 6 cabins. The master cabin features a bathroom, an office, a private deck, and a jacuzzi. Guests are housed in the VIP cabin with a living room and bathroom as well as in the 4 double cabins. The yacht’s distinctive feature includes large sliding doors between the exterior and the interior, allowing guests to expand their space and reach the deck without leaving the room. Everything is in place for relaxation—from a spa with a massage parlor, through deck chairs, a jacuzzi, a pool, to a place to watch a movie. Those who dislike staying on the couch can go to the multifunctional gym or head straight to the garage filled with aquatic equipment. For evenings, a disco area is provided.
Perhaps this wave of billionaires from the French Riviera will end up in the archives, like the elite of French colonies who dreamed of living in France with the money of their impoverished people, bearing French orders, and speaking French. But evolution shows no mercy. Russian oligarchs are beginning to understand that their capital does not automatically confer respect, and at any time, they could face the same fate as Leopold, the King of the Belgians, who was denounced by his country for exploiting Africa.
