Ruslan Kogan has spent about $20 million to buy his parents a home a few streets from his mansion in Melbourne’s upmarket Toorak, partly paying back the care of the Belarusian immigrants who staked everything to start again in Australia and raised their family in a housing commission flat.
While the one-time Rich Lister’s fortune shrank in the wake of a May profit warning by retailer Kogan.com that sent the shares to a thirteen-month low, the co-founder of the eponymous business had little trouble paying for the five-bedroom home on Grant Avenue after just one inspection.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
