Russian Businessman Mikhail Kroupeev Ordered to Pay £100 Million Divorce Settlement

A Russian businessman has been ordered by a UK court to hand over more than £100 million in money and assets to his ex-wife after it emerged he had been living a secret double life.

Mikhail Kroupeev and Elena Kroupeeva were married in 1988 and spent over three decades together before their relationship broke down. The split came after she discovered he had another wife and child in Russia. The couple moved to the UK in 1993 after he became a British citizen, and they had two children together. However, the court heard that his second child from the secret relationship was born around 2008.

Their divorce has been ongoing since 2024, mainly due to disputes over money and assets. At the centre of the case was the couple’s wealth. Kroupeev owns businesses linked to oil and gas, including one with a contract worth between $1.5 billion and $2 billion to export oil from Syria. Another company operating in Kazakhstan was said to generate profits of tens of millions of dollars.

During the hearings, his ex-wife’s legal team argued she should receive three properties, including their former seven-bedroom home in St John’s Wood in London worth £14.4 million, along with homes in Russia and Portugal valued together at £26 million. They also asked for £32.1 million in cash. Kroupeev, who appeared in court via video link and represented himself, argued she should only receive the properties and £300,000. But the court rejected his position.

Deputy High Court Judge James Ewins KC ruled that he must hand over the three properties and £60 million in cash, bringing the total settlement to about £100.6 million. The judge was critical of Kroupeev’s conduct throughout the case. He said his “ongoing breach of various court orders” had “significantly tainted” his position. He also described his evidence as “profoundly unsatisfactory and lacking credibility”, adding that his repeated apologies “rang hollow”.

Kroupeev had previously been sentenced to 28 days for contempt of court after refusing to allow his businesses to be properly valued. The sentence was suspended on the condition that he complied with court orders.

The court was told the family had lived a very wealthy lifestyle during the marriage, regularly travelling between homes in London, Portugal, Turkey and Russia. They took luxury holidays by private jet, including annual Christmas trips to Mustique, and Elena Kroupeeva made regular shopping trips to Milan. Kroupeev also owned expensive collections of wine, watches and firearms. After the relationship broke down, she said her monthly allowance of £40,000 was cut off. Kroupeev claimed he had limited cash available, but the judge noted he had spent more than £500,000 on his American Express card in less than a year. He was also found to be supporting his second family financially.

Judge Ewins said the £100.6 million settlement was “affordable” for Kroupeev and would only require him to use a small part of his wealth. In a statement shared through her lawyers at Payne Hicks Beach, Elena Kroupeeva said she was “delighted” with the decision after what she described as “a period of troubling insecurity”.