From Russia to Silicon Valley

1

Money from the Russian state funds two institutions

Russian state

State

subsidies

State

subsidies

VTB Bank

Gazprom

Investholding

From Russia to Silicon Valley

1

Money from the Russian state funds two institutions

Russian state

State

subsidies

State

subsidies

VTB Bank

Gazprom

Investholding

From Russia to Silicon Valley

1

Money from the Russian state funds two institutions

Russian state

State

subsidies

State

subsidies

VTB Bank

Gazprom

Investholding

From Russia to Silicon Valley

1

Money from the Russian state funds two institutions

Russian state

State

subsidies

State

subsidies

VTB Bank

Gazprom

Investholding

Funds

$920m

loan

2

They fund stakes in investors in Silicon Valley

Kanton

Took

control

in 2011

Yuri Milner

Publicly

associated

DST

Investments 3

Investment vehicle

DST USA II

Investment

vehicle

3

These investors plough money into Twitter and Facebook. Separately Yuri Milner’s family trust invests $850,000 into Jared Kushner’s startup, Cadre

$191m in

shares

78 million

shares

Twitter

Facebook

$850,000

investment through

family trust

Cadre

Startup that Kushner

co-founded

Guardian graphic

Josh Holder, Nikolaus Kommenda and Cath Levett

From Russia to Silicon Valley

1

Money from the Russian state funds two institutions

Russian state

State

subsidies

State

subsidies

VTB Bank

Gazprom

Investholding

Funds

$920m

loan

2

They fund stakes in investors in Silicon Valley

Kanton

Took

control

in 2011

Yuri Milner

Publicly

associated

DST

Investments 3

Investment vehicle

DST USA II

Investment

vehicle

3

These investors plough money into Twitter and Facebook. Separately Yuri Milner’s family trust invests $850,000 into Jared Kushner’s startup, Cadre

$191m in

shares

78 million

shares

Twitter

Facebook

$850,000

investment through

family trust

Cadre

Startup that Kushner

co-founded

Guardian graphic | Josh Holder, Nikolaus Kommenda and Cath Levett

From Russia to Silicon Valley

1

Money from the Russian state funds two institutions

Russian state

State

subsidies

State

subsidies

VTB Bank

Gazprom

Investholding

Funds

$920m

loan

2

They fund stakes in investors in Silicon Valley

Kanton

Took

control

in 2011

Publicly

associated

Yuri Milner

DST

Investments 3

Investment vehicle

DST USA II

Investment

vehicle

3

These investors plough money into Twitter and Facebook. Separately Yuri Milner’s family trust invests $850,000 into Jared Kushner’s startup, Cadre

$850,000

investment

through

family trust

$191m in

shares

78 million

shares

Twitter

Facebook

Cadre

Startup that Kushner

co-founded

Guardian graphic | Josh Holder, Nikolaus Kommenda and Cath Levett

From Russia to Silicon Valley

3

These investors plough money into Twitter and Facebook. Separately Yuri Milner’s family trust invests $850,000 into Jared Kushner’s startup, Cadre

1

Money from the Russian state funds two institutions

2

They fund stakes in investors in Silicon Valley

$920m

loan

Took control

in 2011

78 million

shares

State

subsidies

Gazprom

Investholding

Kanton

DST USA II

Investment

vehicle

Facebook

Publicly

associated

Yuri Milner

Russian state

Cadre

Startup that

Kushner

co-founded

$850,000

investment through

family trust

State

subsidies

Funds

VTB Bank

DST

Investments 3

Investment

vehicle

Twitter

$191m in

shares

Guardian graphic | Josh Holder, Nikolaus Kommenda and Cath Levett

1

Money from the Russian state funds two institutions

2

They fund stakes in investors in Silicon Valley

3

These investors plough money into Twitter and Facebook. Separately Yuri Milner’s family trust invests $850,000 into Jared Kushner’s startup, Cadre

From Russia to Silicon Valley

$920m

loan

Took control

in 2011

78 million

shares

Publicly

associated

Gazprom

Investholding

Kanton

Services

DST USA II

Investment

vehicle

Facebook

State

subsidies

$850,000

investment through

family trust

Yuri Milner

Russian

state

Cadre

Startup that

Kushner

co-founded

State

subsidies

$191m in

shares

Funds

VTB Bank

DST

Investments 3

Investment vehicle

Twitter

Guardian graphic | Josh Holder, Nikolaus Kommenda and Cath Levett

Expand full graphic