Kremlev, financier of Trump Jr.'s wedding, takes 50% of Russian developer AVA
What's the deal? Russian businessman Umar Kremlev has acquired a 50% stake in AVA GroupDealroom has a profile for this one. Try Dealroom →, a Russian real estate development holding company. The deal's value was not disclosed, and AVA president Vahan Harutyunyan retained operational control.
Who's involved? Kremlev heads the International Boxing Association and has ties to the Russian government. AVA, founded as a developer, spans real estate development, commercial property, and hospitality, ranking among the top five developers in the Krasnodar Krai.
Why it matters: The acquisition extends a business portfolio that already includes the RolfDealroom has a profile for this one. Try Dealroom → car-dealership group, which Kremlev acquired in 2024 after it was taken into state ownership.
The wedding link: According to US investigative outlet ProPublicaDealroom has a profile for this one. Try Dealroom →, Kremlev covered part of the costs for the three-day Bahamas wedding of Donald Trump Jr. in May 2026, including a private island rental and fireworks, totalling hundreds of thousands of dollars. Trump Jr.'s wife, Bettina, confirmed Kremlev had given the couple a wedding gift, and a representative described him as a personal friend. Kremlev later said Trump Jr. had reimbursed him.
The scrutiny: The US House of Representatives has launched an investigation into the financing of the wedding. Available reporting does not establish a link between Kremlev's political ties and the AVA deal.
The signal: The transaction is notable less as a disclosed-price acquisition than as another move into a substantial Russian business, as Kremlev's commercial interests broaden across sectors — from boxing and bookmaking to car dealerships and property.
Read more: ua.news
Image credit: Generated with Gemini
