India, Dec. 31 -- Former Russian banking tycoon Oleg Tinkov claimed he lost $9 billion in a single day after publicly condemning Russia's invasion of Ukraine in April 2022. His Instagram post led Kremlin-linked officials to pressure his bank, forcing him to sell his stake at a steep discount and leave Russia.

Following an alleged fallout with the Russian government, Tinkov sold his 35% stake in Tinkoff Bank at a fraction of its valuation. He subsequently moved out of Russia and later renounced his citizenship.

Oleg Tinkov used to be one of Russia's wealthiest individuals, a banking tycoon and entrepreneur. He founded Tinkoff Bank in 2006, which grew to become one of Russia's leading banks.

Before starting Tinkoff Bank, Tinkov establish...