Oleg Yuryevich Tinkov is one the highest profiled entrepreneur who founded one of Russia's largest financial institutions.
The billionaire has renounced his Russian citizenship, saying that he doesn't want to be associated with "fascism" or people who collaborate with "killers."
"I decided to renounce my Russian citizenship after Russia's invasion of independent Ukraine. I am against this war, and the killing of peaceful people," said the Tinkoff Bank founder.
He said in the post that he was "reiterating" his decision after his original post on Instagram had "mysteriously disappeared."
"Looks like Putin's trolls somehow got to Instagram, and my post disappeared," he said.
"I'm against this war, and killing of civilians."
"I hate Putin's Russia, but love all Russians who are clearly against this crazy war!"
"I hope more and more businessmen will follow me and stop working for fascism, abandon their businesses and citizenship."
Tinkov, whose upstart digital credit card company grew to become one of Russia's largest companies, is considered as one of the few people with close ties to Russian President Vladimir Putin.
At his peak, Bloomberg Billionaires Index estimated Tinkov's net worth to be around $10 billion.
But following Russia's invasion to Ukraine, the billionaire has also been the target of sanctions. His private jets for example, have been delisted because of the war.
In the months following that, he has been an outspoken critic of the war, and also became vocal against Putin.
Back in April, he posted an Instagram post that said 90% of Russians are against the war, and called Putin's and the war's supporters as "morons".
It was after this statement, that Forbes estimated that his net worth plummeted to around $0.8 billion.
At that time, Tinkov said that officials of the Putin administration threatened to nationalize Tinkoff Bank, and that he went into hiding after being forced to sell his 35% stake in TCS, Tinkoff Bank's parent, to Russian metals magnate Vladimir Potanin.
With his will against his own country and President, Tinkov said that he now has no business interests in Russia.
With this stance against Mother Russia, the Russian-born Cypriot businessman asked his bank to stop using his name.
"My name should not be associated with fascism," he said. "I hate when my brand/name is associated with the bank that collaborates with killers and blood."
It's worth noting though, that Tinkov has denied his connections with the Russian government.
"An oligarch is a businessman who earned his money through ties to the state, and 'parasitizing' on state contracts and budget! Participant in privatizations of primary and secondary schools, in fact, it is 98 out of 100 on the Forbes list, Russia. Sergey Galitsky and I are NOT oligarchs, we made money from completely scratch, and I DO NOT use any connections!" he said in an Instagram post.
"I have NEVER been to the Kremlin and met with any officials, with the exception of the head of the Central Bank, who was my boss. I just didn't need them, I've never had a contract with the government or state companies!"
"I'm self-made, please stop calling me an 'oligarch'! I created from ZERO over 100,000 new jobs, 4 businesses that did not exist at all after the collapse of the USSR!"
On the contrary to what people say about him, Tinkov explained that he left with only a small share of the company he founded, and that he is battling leukemia, while attempting to help people through his non-profit organization.
Oleg Tinkov isn't the first Russian billionaire to go against Russia.
Before Tinkov, Israeli-Russian billionaire Yuri Milner and some others had also renounced their Russian citizenship.