Russian oligarchic billionaire banker seems to be breaking with the past
The nonprofit has pledged about $650 million to fight the disease, while also betting on early-stage cancer research companies. That adds another layer of protection to Knaster’s fortunes and distances him from his past at a time of massive sanctions against those affiliated with Russia’s fortunes. “From a strategic point of view, he made a brilliant move to put his assets into this philanthropic foundation,” said US academic David Lingelbach, who headed Bank of America’s Russia operations in the 1990s and had dealings with Knaster. “I’m sure Mikhail Fridman wished he did something like that.” Knaster was described as the “right arm” of Russian billionaire Mikhail Fridman at one point. Credit: AP Knaster declined to comment through a spokesman. Money trail Like others close to Russian money, Knaster was unable to completely erase the origins of his fortune, about half of which was tied up in Pamplona. His rise from mid-level bank executive to private equity power player, Italian foo