of russia billionaire buys world's most expensive villa

Russia billionaire buys world's most expensive villa: Russian billionaire Mikhail Prokhorov has bought Villa Leopolda, a villa near from Nice and Monaco, at a record price of 496 million euros.

Russian billionaire Mikhail Prokhorov has bought the world's most expensive villa, a former royal palace, on the French Riviera for nearly half a billion euros, a press report said Saturday.

Villa Leopolda, built in 1902 for Belgian king Leopold II near Cap Ferrat, not far from Nice and Monaco, was sold to the former head of Russian mining giant Norilsk Nickel for 496 million euros (730 million dollars), Nice Matin newspaper reported.

Earlier owners include the late Italian industrialist and principal shareholder of Fiat, Giovanni Agnelli, and Lebanese-born Swiss banker Edmond Safra, whose widow Lily Safra was now selling the property.

Forbes magazine has ranked Prokhorov's 19.5-billion-dollar fortunes sixth in Russia and 24th worldwide.

Russian billionaire Mikhail Prokhorov, new owner of Villa Leopolda