Forbes reports that Russian billionaires have increased their wealth by 11% in a single year, despite the war and sanctions.
Forbes Russia reported that Russian billionaires have increased their wealth 11% to a record $696.5 Billion over the last 'year, despite the conflict in Ukraine and the toughest Western sanctions ever imposed on any major economy.
The richest Russian men are linked to the natural resources Russia has been exporting to global markets over the years. Their wealth has increased as disruptions in trade have led to a rise in commodity prices.
Forbes named Alexei Mordashov as Russia's richest millionaire. His fortune was $37 billion, an increase of $8.4 billion from the previous year.
Forbes ranked Vladimir Potanin as the second-richest Russian with a fortune worth $29.7 billion. He is the chief of Interros, a metals producer Nornickel and chief executive of Interros.
Forbes reported that Vagit Alekperov was the third-ranked person with a fortune of $29.5 billion. Leonid Mikhelson and his family, who are CEOs of Novatek and Novatek respectively, were ranked in fourth place with a wealth of $28.3billion.
The wealth of Russia's billionaires is far less than that of the richest Americans.
Elon Musk is the top of Forbes'?global rich list? with a fortune worth $839 billion. Larry Page, the CEO of Google, is ranked number two with a fortune worth $257 billion. (Reporting and Editing by Guy Faulconbridge, Tom Hogue).
(source: Reuters)
