Russian Billionaire Makes Most Expensive Real Estate Purchase In Miami Since 2006

Roustam Tariko, self-made billionaire and founder of Russian Standard Bank and Russian Standard Vodka, the leading premium vodka in Russia, completed the most expensive home purchase in Miami Beach since 2006 when he bought a $25.5 million estate on Star Island in late Spring.

Tariko is now the neighbor of another wealthy Russian with a taste for Florida luxury living. Vladislav Doronin, also sometimes dubbed as the "Donald Trump of Russia", who is the chairman of Moscow-based real estate developer Capital Group. Tariko paid $16 million in 2009 for the Star Island home previously owned by Shaquille O’Neal, the now-retired professional basketball player.

International investors are flocking to the United States, buying some of the priciest homes in America. As the broader housing market slumps, especially in economically depressed areas throughout the Midwest and stagnant metropolitan areas, plus an ever weaker dollar makes U.S. property more of a bargain and a safe haven for foreign investment capital. Sales of residences above $20 million are rising in New York, California and Florida, which are popular business and vacation destinations for cosmopolitan entrepreneurs and celebrities.