Russia seizes $7.6B in billionaire’s assets in major nationalization

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https://www.msn.com/en-us/news/insight/russia-seizes-7-6b-in-billionaire-s-assets-in-major-nationalization/gm-GM0CE67937

Record asset seizure: Authorities confiscated $7.6 billion in holdings tied to Vadim Moshkovich, the largest nationalization in recent years.

Part of wider campaign: The Kremlin has transferred an estimated $89.7 billion in private assets to state control since the Ukraine war began.

Elite on alert: Billionaires are showing loyalty to avoid similar fates, with some making large voluntary contributions to the state budget.