Dmitry Medvedev's foundations profit over $850 million from war efforts

In Russia, a noticeable shift in the public persona of Dmitry Medvedev occurred after the onset of the full-scale war in Ukraine in February 2022. Once dismissed and viewed as a moderate leader, Medvedev has transitioned into a staunch and aggressive advocate for the war. This transformation has also been tied to the financial success of several foundations associated with him, which have significantly increased their net worth during this period. As of the end of 2024, these foundations reportedly held 86.4 billion rubles ($850 million), a stark increase from 23.5 billion rubles ($316 million) in 2021. The foundations have not publicly disclosed their donors and only a fraction of them maintain websites, keeping their financial activities largely opaque. The funds have reportedly been funneled to various causes, including support for Russian military operations in Ukraine and real estate ventures connected to Medvedev that span from St. Petersburg to the Black Sea. Opportunistic in nature, his foundations seem to have capitalized on the war to bolster their financial standing, showcasing a complex interplay between politics and profit in the current geopolitical climate. Moreover, the entities established under Medvedev's influence, such as Nasha Pravda, have been actively collaborating with the ruling United Russia party. In early 2025, these foundations are known to have contributed equipment to military units, reflecting their broader engagement with the military sphere amidst the ongoing conflict. Medvedev's personal life, including various upscale properties and assets like yachts, also ties into this narrative as they are allegedly linked to the wealth acquired through his foundations. The investigation by Systema reveals that the foundations operated on a significant scale, raising red flags about the potential for corruption and the prioritization of military endeavors over humanitarian concerns, further complicating Russia's engagement in its war against Ukraine. Furthermore, Dmitry Medvedev's change in tone has been stark as he frequently resorts to aggressive social media outbursts, threatening retaliatory actions against Western nations and fuelling tensions with Ukraine. This evolution in character marks an individual seeking to regain relevance in Russian politics while simultaneously profiting from a national crisis. Observers highlight that such dynamic interactions between leadership, financial growth, and military objectives exemplify the multifaceted nature of contemporary conflict, illustrating how figures like Medvedev adapt their roles to accommodate changing circumstances in pursuit of personal and political gain.