Profile: Kirill Shamalov

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Updated December 3, 2017 by Nadia and Dmitry Valuev

Kirill Shamalov


Estimated worth


$1.3 billion



Reported links with Communist party, KGB or organized crime


He is connected to FSB directly  through his early work in Rosoboronexport

He is connected to organized crime through his father Nikolay Shamalov via Bank Rossiya and cooperative Ozero which saw significant participation from criminal gangs in St.Petersburg


Undermining effect on democracy




Key bio and links with kleptocracies


Kirill Shamalov was born on March 23, 1982.

Education: Faculty of Law of St. Petersburg State University, specialty "jurisprudence".

2002-2004 - legal counsel at the Public Joint Stock Company “Gazprom”.

2004-2005 - expert of the regional department of military-technical cooperation with Western European countries in the Federal State Unitary Enterprise"Rosoboronexport".

2005-2005 - leading legal adviser in the legal department of “Gazprombank”.

2005-2008- specialist of the Department of Economics and Finance of the Government of the Russian Federation. In the department he advised on the management of state property, as well as privatization and reform of state companies.

In June 2008, Shamalov became a vice-president for administrative support of business in SIBUR (previously there was no such position in the company).

From January 2012 to March 2015 - deputy chairman of the board of SIBUR LLC, the managing organization of PJSC SIBUR Holding, which oversees legal issues, GR, PR and general corporate services and administration.

Since 2014 - member of the board of directors of PJSC SIBUR Holding, member of the board of directors of RCC LLC, president of “Ladoga Management” LLC.

In February 2013, Kirill Shamalov married the youngest daughter of Vladimir Putin Katerina Tikhonova. The celebration was held at the ski resort "Igora" near St. Petersburg that co-owned by Yuri Kovalchuk’s family .

By the fall of 2014, during the SIBUR’s stock option program, Kirill Shamalov, in several rounds, acquired 4.3% of the company's shares.

At the beginning of September 2014, SIBUR announced that a company “Yauza 12”, the sole owner of which is Kirill Shamalov, acquired 17% of SIBUR’s shares. The seller of that package was Gennady Timchenko. As a result of the transaction, Shamalov consolidated 21.3% of shares. The purchase of the 17% of SIBUR was financed by a loan of 78.9 billion rubles (about $1.3 billion at that exchange rate) from “Gazprombank” signed  on special terms. The elder brother of Kirill, Yuri Shamalov was at that time a deputy chairman of the board of directors of “Gazprombank”.

In March 2014, Kirill Shamalov, while still vice-president of SIBUR, became one of the founders of the company “KDS Invest” with 40% stake that was created to make investments on behalf of those Russians who were under the Western sanctions.

In 2016, Kirill Shamalov became the youngest billionaire according to the Forbes rating of the richest Russians.

In April 2016, a member of the Anti-Corruption Foundation Georgy Alburov reported that the federal agency “RosReestr” removed the owner’s name from the information about Kirill Shamalov’s apartment in Moscow located at 18 Zoological St, Apt. 56.

In 2016, Kirill Shamalov entered the Fobes list of “Kings of the State contracts“, becoming the fourth largest supplier for state contracts due to his share in SIBUR. The total amount of the state contracts received by SUBIR in 2015 was 148.8 billion rubles. The main customer was Gazprom.

In November 2016, Alexei Navalny said that Vladimir Putin signed an executive order to loan SIBUR $1.75 billion for constructing the “West-Siberian Petrochemical Complex” which, according to the Russian legislation, is a conflict of interest. The Anti-Corruption Foundation of Navalny’s filed a lawsuit on this issue.

It was also reported that the allocation of money from the National Welfare Fund was passed at an extremely low interest rate of 2%, which is more than 3 times lower than the market value of such loans. Another private company managed to get financial resources from the National Welfare Fund as well - it was Novatek, a large stake of which belongs to Putin’s friend Gennady Timchenko.

Wife Katerina Tikhonova

 Katerina Tikhonova is the younger daughter of Vladimir Putin and the wife of Kirill Shamalov. After graduating Moscow State University she became a CEO of a company called “Innopraktika”, that aims to support scientific researches and scientists. Innopraktika combines two initiatives connected to the university, the National Intellectual Development Foundation (NIDF) and the National Intellectual Reserve Centre (NIRC). Innopraktika has a raft of advisers and partners who are close to Putin, including KGB associates of Putin - a CEO of Rostec Corporation Sergei Chemezov and a president of the Russian pipeline company Transnef Nikolai Tokarev.

Since 2013 National Intellectual Development Foundation received state contract worth 182 million roubles ($2,8 million) from state owned Rosneft, Rosatom and Transneft. Of 10 contracts reviewed by Reuters, eight were awarded without competitive tender. A spokesman for the oil company Rosneft said it was cooperating with Moscow State University on 17 projects that were worth a total of 530 million roubles ($8.8 million).

According to the Anti-Corruption Foundation of Alexey Navalny, in 2015-2016 Innopraktika received 877 million roubles ($14 million) from state-owned companies and other designated contributions. The outcome of the company’s work is mostly unknown.

Innopraktika is involved in a project of expansion of the Moscow University’s campus worth $1.7 billion that aims to double the size of the university campus by 2018 with new laboratories, academic buildings, schools, student accommodation, and a museum.

The 2016 annual report of the National Intellectual Development Foundation shows that the company spent 646,64 million roubles ($10 million). The compensation to the management team was about 85 million roubles ($1.4 million).

Despite of the vast investments and high-cost projects that Innopraktika handles, its activity is not known among scientists.

As husband and wife, Kirill and Katerina would have corporate holdings worth about $2 billion, according to estimates provided to Reuters by financial analysts.


Undermining activity in the West


In 2016 Kirill Shamalov was 4th on the Forbes’s list “King’s of state contracts” thanks to his stake in Sibur. Main client for these lucrative contracts was state monopoly Gazprom. In Novermber 2017, Paradise Papers revealed that U.S. Secretary of Commerce Wilbur Ross has a stake in a shipping entity Navigator Holdings that received millions of dollars in profit through contracts with Sibur despite western sanctions.


Key financial and luxury assets


 Controlled (50% +)

“Ladoga Management” LLC (100%) specializes in investing in securities.

Minority stakes (49% -)

Petrochemical industry:

By 2014, Kirill Shamalov had owned 21.4% (the second largest block of shares) of SIBUR, Russia’s largest petrochemical holding company. At the end of 2016, Shamalov sold 0.4% of SIBUR’s shares to Chinese company Sinopec for $52 million. In early 2017, Kirill Shamalov sold 17% of SIBUR’s shares to the main holding’s owner Leonid Mikhelson. Shamalov remained the owner of 3.9% stake in SIBUR. Based on the assessment of SIBUR for the Sinopec deal, Shamalov’s sold shares could be worth $2.21 billion.

The cement industry: together with his father Nikolay Shamalov Kirill owns a share in the “Russian cement company” (5% belongs to Kirill, 12.55% to Nikolay).

Kirill Shamalov owned 40% of the company “KDS Invest”. It was planned that the company “will make investments on behalf of those Russians who were under international sanctions, in particular, co-owners of the bank “Rossiya”. But in 2015 the company was liquidated.

Luxury assets

In 2015, Kirill Shamalov bought a villa in Biarritz for $3.7 million. The villa is located a few kilometers away from a villa of Arthur Ocheretny (Ludmila Putina’s husband). Previously the villa belonged to one of the closest Putin’s friends Gennady Timchenko.

“Avenue du General Mac Croskey in Biarritz covers about 300 square meters inside and has 2,000 square meters of garden. Built in the 1950s, it is now worth about 3.5 million euros ($3.7 million)”, according to Pierre Fourreau, an architect who renovated the property seven years ago.



 Reuters/Regis Duvignau