this post was submitted on 07 Jul 2025
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Vladimir Putin’s government has launched an aggressive campaign to nationalize the assets of Konstantin Strukov, one of Russia’s richest men and the owner of the country’s largest gold mining company. The move marks a sharp escalation in the Kremlin’s efforts to extract wealth from within its own elite as the financial toll of the war in Ukraine deepens.

Strukov, whose fortune is estimated at over $3.5 billion, is the founder of Yuzhuralzoloto—a gold empire built over decades with strong ties to the Kremlin. But on July 5, his private jet was grounded by Russian authorities as it prepared to leave for Turkey. His passport was reportedly seized, and the aircraft barred from departing.

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[–] [email protected] 147 points 5 days ago (23 children)

This is a pretty good example of why I say even millinoaires and billionaires should support a functional democractic society with taxation and regulation and social safety nets. Its the old penny wise and pound foolish. Getting a sliver more and a sliver more and then you lose it all because the rule of law was thrown out long ago. It won't necessarily take that long to. At a certain point it could happen at any time. Maybe it will. Maybe it won't.

[–] [email protected] 36 points 5 days ago (2 children)

a functional democratic society would not have billionaires and hopefully millionaires neither

[–] [email protected] 8 points 5 days ago (1 children)

A functional society doesn't need money.

[–] [email protected] 2 points 4 days ago

Money implies poverty.

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