[1] The Panama Papers leak revealed that Kovalchuk had transferred at least $1 billion to an offshore entity.

While self-isolating from COVID-19 in 2020, Putin spent much time with Kovalchuk, and they share the view that the only important factor is to restore Russian greatness.

[9][10][11][12][a] Since the early 1990s, Kovalchuk has owned a dacha in Solovyovka in the Priozersky District of the Leningrad region, located on the eastern shore of the Komsomolskoye lake on the Karelian Isthmus near Saint Petersburg.

[18][19][20] In November 2000, he was a main shareholder of the Brewery "Baltika" (Russian: пивоваренная компания "Балтика").

[24] His elder brother Mikhail Kovalchuk is the scientific secretary of the Council for Science and High Technologies attached to the president of the Russian Federation.

[27] As of January 2019, Kovalchuk and Nikolai Shamalov through their ownership of Rossiya Bank have become the most important investors in Russia's development of annexed Crimea.

[35] Kovalchuk was one of several individuals sanctioned by the U.S. Treasury Department on 20 March 2014 in response to the annexation of Crimea by the Russian Federation.