Not the typical student budget: Son of Azeri-Russian billionaire lost $50 million playing London stock market while at university

The son of a Russian tycoon has claimed that millions of dollars alleged to have been fraudulently hidden from his mother were actually lost investing in stocks, all while he was studying at the London School of Economics.

Temur Akhmedov’s parents, Farkhad and Tatiana, are in the middle of a massive financial battle surrounding Britain’s largest-ever divorce case. His mother claims Temur conspired with his father to conceal the family fortune. Tatiana says her son owes her around $93 million, part of the £453 million ($604 million) divorce settlement awarded to her in 2016.

However, Temur claims he isn't hiding the cash from his mother, but lost it as a student while playing the stock market. When studying in London, he says he day-traded away $50 million, in what Akhmedova called “gambling.”

“That the sums were astronomical is nothing to the point,” noted Robert Levy QC, Temur’s lawyer. “Some of the extremely rich lavish their children with unimaginable sums. That is what Farkhad and Tatiana did during their marriage; Farkhad continued it towards the end of the marriage and thereafter.”

Evidence provided by Tatiana also revealed that Temur was given a flat in London worth £29 million ($38 million) and was gifted a Mercedes at just age 17.

The latest twist in the messy divorce case came on Monday after court proceedings began against Temur. Tatiana is suing him for all the assets she believes he has hidden on behalf of her ex-husband. Instead of going to court last week, Temur fled to Moscow, and therefore appeared on December 7 via video link.

The other party to the divorce case, Farkhad, has an estimated net worth of $1.4 billion. In 2012, he sold his shares in Siberian gas producer Nortgas for $1.38 billion.

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