Recently, it was reported that Villa Leopolda was sold to a Russian billionaire for just under 500 million euros. It soon revealed that Russian billionaire Mikhail Prokhorov was behind the sale. As is the habit with Russian oligarchs, Prokhorov made his billions in precious metals. In 2007 he launched a $17 billion private investment fund, so he was definitely wealthy enough to purchase the property.

He made his wealth during the 1990s when lots of ex-Soviet industries were up for sale at prices which soon escalated and made the purchasers very wealthy.

In a good twist, the billionaire's spokesman said that Mikhail would not do business in France until the French authorities apologise for detaining him in a prostitution probe. It was claimed that at his annual two-week Christmas party, he had arranged certain activites for his guests.

The Villa was built in 1902 for Belgian King Leopold II. It is situated in the French town of Villefranche-sur-Mer on the French Riviera. It previously (or still...) belonged to Lily Safra, a
philanthropist.

French sources also claim that Roman Abramovich was involved, but he has also denied any interest. Both French and Russian media insist that a Russian billionaire has purchased the property. If the sale is confirmed, it would be the most expensive home in the world.