The 21 richest people in Russia lost $84 billion this year.
The fortunes of Russia's richest people are hurting amid a massive market sell-off as Western countries impose sanctions on Russia after its invasion of Ukraine.
Business Insider writes about it.
The 21 richest people in Russia lost $84 billion this year, according to the Bloomberg Billionaires Index. Their financial losses have more than doubled since the start of the Russian invasion of Ukraine: the same group of billionaires lost a total of $39 billion in just one day after the invasion , sending the country's stock market down 50% last week.
Market turmoil prompted Russia's central bank to halt trading on the Moscow Exchange to stem further declines. Despite this, the wealth of Russian billionaires has continued to come under pressure as some of their companies are registered elsewhere in the world.
Among the Russian billionaires, Vagit Alekperov, chairman of the board of Lukoil, lost the most , losing $14 billion this year. – 60% of its capital – after the value of the company's shares on the London Stock Exchange fell by about 80%. According to Bloomberg, Alekperov's fortune is now $8.8 billion.
According to Bloomberg, Russia's richest famous person, Vladimir Potanin, lost $6.2 billion. and now has a fortune of 24.7 billion dollars. The share price of Norilsk Nickel, whose president is Potanin, fell by 56% on the London Stock Exchange.
President of the Ural Mining and Metallurgical Company Iskandar Makhmudov dropped out of the list of billionaires altogether , Bloomberg reports.
Andrey Melnichenko is the only Russian billionaire to have made a profit this year to date. His fortune is largely derived from private fertilizer company EuroChem and thermal coal company SUEK, according to Bloomberg.
Even before Russia's invasion of Ukraine, the US and UK had already imposed sanctions against Russian oligarchs and their families. Among those sanctioned by Britain was the oligarch Gennady Timchenko, who has close ties to Russian President Vladimir Putin , Reuters reports. His fortune is now 11.1 billion dollars. after a decrease of 11.3 billion dollars. this year.
Here's a breakdown of Russia's top 10 richest people, their net worth, and how their wealth has changed this year, according to the Bloomberg Billionaires Index.
Losses of Russians fighting against Ukraine:
According to the tentative data of the General Staff of the Armed Forces of Ukraine, from the morning of February 24 to 6:00 on February 28, the troops of the invading country of Russia suffered the following losses:
