The 8-year-old daughter of a Vladimir Putin ally is listed as the owner of a multimillion-dollar apartment in one of London's most exclusive areas
- Vladimir Gruzdev is a Vladimir Putin ally whose net worth was estimated to be $900 million in 2021.
- His 8-year-old daughter owns a London apartment that could be worth $5 million to $10 million today.
The 8-year-old daughter of a Vladimir Putin ally is listed as the owner of a multimillion-dollar apartment in London, documents seen by Insider show.
Vladimir Gruzdev made his name as a grocery-store tycoon before starting a career in politics, which won him special recognition by Putin in 2010. His net worth was most recently estimated to be $900 million in 2021, per Forbes.
The Times of London first reported on the apartment in an investigation with Transparency International, an anti-corruption nonprofit that shared details of the property with Insider.
The apartment was purchased for £2.3 million in 2000 through a company based in the Cayman Islands, where the tax rate is 0%. That's equivalent to £4 million now, or about $4.9 million at today's conversion rate, when adjusted for inflation. One property-valuation website suggests it could be worth over $10 million, but its actual value on the open market is unclear.
Company records show that the 8-year-old girl, whom Insider isn't naming as she is a minor, was first declared to be the owner of the luxury property in February of last year, 20 days before Russia launched its full-scale invasion of Ukraine.
Ukraine sanctioned Gruzdev after he shared a statement from the Association of Lawyers of Russia — whose board he chairs — supporting the war. He isn't sanctioned by any other countries.
His daughter's residence is in Kensington, one of London's most exclusive boroughs, while The Times reports it includes a parking space and a maid's room. Several national embassies, the Royal Albert Hall, and Prince William and Kate Middleton's current residence are all within 600 yards of the property.
Some of Russia's most powerful oligarchs including Roman Abramovich have also bought properties in a nearby area of the city, which has been nicknamed "Red Square" in some circles because of the large number of Russian owners.
A 2021 report by Knight Frank found that London was home to more than 874,000 millionaires, the most high-net-worth individuals of any city in its review.
The Association of Lawyers of Russia didn't immediately respond to a request for comment from Insider.
Watch: The rise and fall of Russian oligarchs