Forbes Ukraine: proposed deal involving Russian oligarch in holding takeover unfinalized

Forbes Ukraine weighed in on a Washington Post report that raised the prospect of Russian businessman Magomed Musaev's potential involvement in negotiations to purchase global Forbes publications.

In May 2023, American billionaire Austin Russell announced the acquisition of an 82% stake in Forbes Global Media Holdings, the magazine's parent company. He categorically denies the presence of Russian capital in the consortium involved in the implementation of the agreement.

"The deal to acquire 82% of Forbes Global Media Holdings has not been finalized. It is under the scrutiny of American regulators, in particular the Committee on Foreign Investment in the United States (CFIUS) under the US Treasury Department," the message said.

Russell is the founder and CEO of Luminar Technologies, a company specializing in the development of autonomous driving technologies with a market capitalization exceeding $1.4 billion.

According to WP, Musayev called Russell the "face" of the deal and insisted that his own involvement be kept secret. In a comment to the newspaper, Russell dismissed Musaev's involvement in the deal.

The Washington Post said that Magomed Musaev, the Russian oligarch and owner of Forbes Russia, said in private conversations with partners in June that he had become the new owner of the entire Forbes media group.

Musaev became the owner of Forbes Russia in August 2018.