Two extra billionaires, founders of American IT corporations Veeam Software program and Object First, Andrei Baronov and Ratmir Timashev, have renounced Russian citizenship following Russia’s invasion of Ukraine.

Based on Forbes, they’re now residents of Cyprus. Barnov is now residing in Switzerland, and Timashev is in the USA, VisaGuide.World stories.

Andrei Baronov introduced the submission of paperwork to surrender Russian citizenship final yr, in response to Forbes, whereas he wrote on his account on the social community LinkedIn.

I’m a non-public individual and by no means make public feedback, particularly about politics. “I make a uncommon exception as a result of I’m deeply shocked by the Russian … (“particular operation” *. – changed by Forbes) in Ukraine. I’ve formally submitted all of the paperwork essential to surrender Russian citizenship.

He expressed his considerations concerning the Russian invasion of Ukraine.

I don’t wish to be a citizen of a rustic whose leaders kidnap youngsters, rape and rob civilians and virtually day by day indiscriminately hearth 1000’s of missiles killing harmless individuals.

Baronov initiated the renunciation of Russian citizenship in April 2023, and the difficulty was resolved in December of the identical yr. On the identical time, Ratmir Timashev renounced Russian citizenship in January 2024.

Russian Invasion of Ukraine Spurs Surge in Renounced Citizenship

Baronov and Timashev thus grew to become the eighth and ninth businessmen amongst present and former members of the Forbes record who’ve renounced Russian citizenship for the reason that starting of 2022.

Beforehand, an identical determination was made by different billionaires, together with the next ones: Timur Turlov (Freedom Holding), Nikolai Storonsky (Revolut), Yuri Milner (DST International), Igor Makarov (Areti), Coalco founder Vasily Anisimov, Troika Dialog founder Ruben Vardanyan and former billionaire founder Tinkoff Financial institution Oleg Tinkov (acknowledged by the Ministry of Justice as a overseas agent).

Based on Forbes, Andrei Baronov’s fortune is $770 million, and Ratmir Timashev’s is $680 million, as estimated by Forbes in 2020.

The idea of their fortune is the earnings from the sale of Veeam Software program to the USA enterprise capital fund Perception Companions in 2020 for $5 billion.

Following Russia’s invasion of Ukraine, within the first 9 months of final yr, a complete of 4,400 individuals renounced Russian citizenship, in response to Director of the Consular Division of the Russian Overseas Ministry Aleksey Klimov. He pressured that greater than 15,000 individuals obtained Russian passports overseas.