Even the Russian billionaires are not sheltered from the crisis. Mikhail Prokorov, who signed recently a preliminary sales agreement for Leopolda, the world’s most expensive villa, wants to give up his purchase today.
The transaction was the talk of the town some months ago: the bid reached the amount of 390 millions of euros, pulverizing the previous record of 147 millions of euros, that was held by Lakshmi Mittal. He has bought a sumptuous villa near the Kensigton Palace’s Gardens for this price.
But finally, this incredible sale won’t take place: Mikhail Prokorov, affected by the crisis, wants to cancel the transaction. But he encountered a problem: Lily Safra, the Edmond Safra’s widow and owner of Leopolda, the world’s most expensive villa, refuses to give back the deposit he has already paid. The amount of this deposit reaches 10% of the villa’s price, that is 39 millions of euros. According to Lily Safra’s lawyer, she wants to offer this sum to the medical research.
However, it’s the Russian billionaire who greatly insisted to invest in the real estate of the French Riviera buying Leopolda. So how is this turnaround possible? Apparently, Mikhail Prokorov lost seven milliards of dollars last year, even if he’s now the first fortune of Russia (more than 14 billions of dollars!). However that may be, the Prokorov’s lawyer has initiated a legal action to get the transaction’s nullity.
Today, because of the turnaround of the real estate market on the French Riviera, Leopolda, the world’s most expensive villa, is “only” valued between 300 and 320 millions of euros.
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