Forbes Ukraine denies possible purchase of entire Forbes media group by Russian oligarch

Forbes Ukraine denies that the agreement about the purchase of the whole Forbes media group by a Russian oligarch Magomed Musaev has been made.

A corresponding statement by Forbes Ukraine was published on 23 October in connection with the report by The Washington Post about a possible participation of the Russian businessman in the agreement about the purchase of the global Forbes.

Quote: "In May 2023, American billionaire Austin Russell announced purchasing a 82% share in the Forbes Global Media Holdings, parent company of the globally known magazine. Austin Russell categorically denies the presence of Russian capital in the consortium, which participates in the implementation of the deal."

Moreover, the agreement about the purchase of 82% of Forbes Global Media Holdings is being checked by competent bodies of the US.

"It is [the agreement – ed.] is in sight of the American regulators, including the Committee of Foreign Investments to the United States (CFIUS) under the US Treasury," – the statement reads.

It is stressed that Forbes is a global brand with the 100-year old history and perfect reputation.

"Any actions which undermine this heritage are unacceptable," Forbes Ukraine states.

Background:

• Magomed Musaev, a Kremlin-connected tycoon and owner of Forbes Russia, told partners that he was behind the purchase of the Forbes Media Group. The Washington Post reported this, citing sources as well as five audio records and a video record, in which Musaev allegedly discusses the deal.
• "You understand that when you hold the key to the most authoritative global brand, this key will give me access to anyone," he said.
• The recordings suggest that Musaev repeated this over and over. In the video recording obtained by the Washington Post, Muasev calls tech founder Austin Russell the "face" of the deal and insists that his own involvement be kept quiet.

Support UP or become our patron!