Alexander Lebedev, who owns The Independent and Evening Standard, unleashed a flurry of punches on another businessman taking part in a TV debate on the global economic crisis.
In front of an astonished studio audience, the Russian billionaire landed a series of blows on oligarch Sergei Polonsky's head, knocking him off his chair.
Afterwards Lebedev claimed that he’d had to ‘neutralise’ Polonsky because he feared he was going to be hit first.
The incredible scene took place during the filming of a debate on television channel NTV, due to be aired today.
Moments before the attack Polonsky had announced that he wanted to ‘stick one in the mouth’.
Lebedev, who used to be a KGB agent and now owns The Independent and London Evening Standard, took to his blog to defend his use of violence, claiming that Polonsky had been overly aggressive during the discussion.
He wrote: ‘In a critical situation, there is no choice. I see no reason to be hit with the first shot. I neutralised him.’
Footage of the dramatic scene, which has surfaced on YouTube, shows Lebedev suddenly losing his cool and standing over Polonsky in a threatening manner.
Real-estate baron Polonsky appears to attempt to calm him down and Lebedev takes his seat once more.
But it's only for a matter of seconds. Without warning, as Polonsky gently pats him on the arm, Lebedev decides it's time to let his fists do the talking.
He suddenly hits Polonsky several times on the side of the head, sending him sprawling to the floor.
A startled Polonsky stands back up, seemingly unharmed, and the two men stare hard at each other as others in the studio rush to calm the situation down.
Lebedev is one of the richest men in the world, with a fortune that’s estimated to be in the region of $3.1billion (£2billion).
As well as The Independent and Evening Standard newspapers, his empire includes the Russian newspaper Novaya Gazeta.
