Trump and the Oligarch

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He claims no ties to Russia. Here’s how he made millions from one of its wealthiest men.


After paying $41 million for the place in November 2004, Trump called it “the finest piece of land in Florida, and probably the U.S.” He vowed to upgrade the structure into “the second-greatest house in America.” (Second, of course, to his nearby Mar-a-Lago resort.) But Trump had no intention of living there. He intended to flip it for a quick—and huge—profit. His initial asking price, less than two years after buying it, was $125 million. By the time Trump listed the property, in early 2006, the real estate market was already cooling off. The property sat on the market for about two years as a frustrated Trump churned through real estate brokers and slashed his price 20 percent. It wasn’t at all clear who might pay Trump three times his buying price for a neoclassical palace amid a looming recession.

In the summer of 2008, Trump found a solution to his problem in the form of one of the world’s hundred richest men: a 41-year-old Russian billionaire named Dmitry Rybolovlev. Then with a net worth that Forbes estimated at $13 billion, Rybolovlev had made his fortune in the wild west of 1990s post-Soviet Russia. He’d spent a year in prison on murder charges (he was later cleared) and wore a bulletproof vest when his own life was threatened. He would pay Trump $95 million for Maison L’Amitie in what was widely described as the most expensive U.S. residential property sale ever.

Why did a Russian billionaire pay Trump so much money for a house the new owner is believed never to have set foot in, which he has denied owning, and which he now intends to tear down? The answer offers an important window into Trump’s kinship with Russia’s oligarchs, and what he likely sees in them as business allies. It is also a story of a classic Trump deal: a lucrative flip, figures on both sides that don’t really add up, and at the center, a house that may not have been what either party claimed.




Read more: http://www.politico.com/magazine/story/2016/07/donald-trump-2016-russian-ties-214116#ixzz4FuWyqbYT



This article does not answer what is the personal connection Donald Trump has with these Russians that are connected to Putin?
Donald Trump has a shady background.
Has US intelligence really checked on Donald Trump's loyalty?