The Washington Post: Owner of Russian Forbes claims to have bought entire Forbes Media Group

Magomed Musaev, the owner of Russian Forbes, claims to have purchased the entire Forbes Media Group, reports The Washington Post, referencing five audio and one video recording of the businessman talking about the deal during private conversations with his business partners.

“I just bought global Forbes. You understand when you have in your hands the key to the most authoritative global brand, this key will give me access to anyone,” Musaev says in one of the recordings.

In another recording, Musaev mentions American entrepreneur Austin Russell and refers to him as the “face” of the deal. Musaev added that his own involvement should be kept quiet. In the spring of 2023, Russell said that he was buying the media group for $800 million.

The Washington Post notes that it’s not clear from Musaev’s statements whether he meant that he helped make the deal, was a secret investor, or was simply making false and exaggerated claims.

Russell, speaking to the publication, denied the involvement of Musaev or any other Russians in the deal. Musaev called it “absolute nonsense” to suggest that he had any control over the deal and denied that he had told his business partners about the Forbes purchase.

The Washington Post notes that the two businessmen have known each other for several years. According to court documents, Musaev helped attract a $20 million seed investment for Russell’s company Luminar in 2016.

In a comment to RBC, Forbes Russia development director Dmitry Ozman said that Russian Forbes has no information about the sale of the global media holding to Musaev.