The Real Deal Miami

Russian billionaire admits buying Trump mansion

Oceanfront Palm Beach home sold for $95M in 2008
November 12, 2013 12:00PM

515 North County Road mansion

515 North County Road mansion

When Donald Trump sold his sprawling Palm Beach mansion for a whopping $95 million five years ago, the true identity of the buyer was a mystery.

That is no longer the case, as Russian billionaire Dmitry Rybolovlev has finally acknowledged his involvement in the purchase of the 515 North County Road home. Rybolovlev told lawyers during a London deposition last month that he invested an undisclosed amount in the 2008 transaction, Palm Beach Post reported. The billionaire said he continues to pay property taxes and cover maintenance costs at the mansion but denied that he is the true owner.

Attorneys for Rybolovlev’s estranged wife, Elena, pressed him for details during the deposition. Elena has sued Rybolovlev in Palm Beach Circuit Court in an attempt to receive half of the mansion’s value through a divorce.

Sergey Chernitsyn, a spokesperson for Rybolovlev, denied the claims made by the attorneys:

“Mr. Rybolovlev has not made any such acknowledgment in his deposition.,” Chernitsyn said in a written statement. “It is completely false and misleading to claim that he has.”

Rybolovlev amassed his wealth through the potash fertilizer industry. The 33,000-square-foot oceanfront mansion used to be known in the town as the Gosman estate. [Palm Beach Post] — Eric Kalis