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. Last Updated: 07/27/2016

Usmanov Buys an Airbus

Alisher Usmanov acquired the biggest private jet in Russia, a wide-body Airbus A340, as he was selling $1.4 billion of stock in Facebook's initial public offering, two people familiar with the matter said.

Usmanov named the long-range, four-engine aircraft after his father, Bourkhan, according to one of the people, who declined to be identified because the information is private. The plane's 2001 catalog price was $238 million, though the final cost could swell to $500 million depending on how it's decorated and outfitted, said Oleg Panteleyev, an editor at Aviaport.ru.

Usmanov also commissioned the construction of a $100 million yacht that he plans to name Dilbar, after his mother, Izvestia reported last week.

(Bloomberg)