Paradise Papers: Russia funded investments in Twitter, Facebook

Russia funded substantial investments in Twitter and Facebook through a business associate of Jared Kushner, the Paradise Papers revealed Sunday.

A major investor in Twitter and Facebook had financial ties to two Russian government-owned firms known as vehicles for the Kremlin’s politically sensitive dealings, newly unearthed documents show.

The records show that one of the Kremlin-owned firms, VTB Bank, quietly directed $191 million into an investment fund, DST Global, that used the money to buy a large stake in Twitter in 2011.

They also show that a subsidiary of the Kremlin-controlled energy giant Gazprom heavily funded an offshore company that partnered with DST Global in a large investment in Facebook.

DST Global’s founder, Russian billionaire Yuri Milner, and other partners in the deals reaped large gains when they sold their stakes shortly after Facebook’s initial public offering in 2012 and Twitter’s in 2013.

There is no indication that the Kremlin gained influence over Twitter or Facebook or received inside information about the firms as a result of investments associated with Milner, the ICIJ said on its website.

The disclosure shows that years before Russia meddled in last year’s US presidential election, the Kremlin had a financial interest in American social media.

These revelations come at a time when Congress is investigating the US tech giants’ role in the spread of Russian disinformation during Donald Trump’s successful campaign for the White House.

It is publicly known that Milner put together large investments in Twitter and Facebook.

The Russian government’s ties to the investments were not previously known.