MOSCOW, April 23 (Reuters) - Russian billionaires increased their wealth by 11% to a record $696.5 billion over the past year despite the war in Ukraine and the toughest Western sanctions ever imposed
Russian Billionaires Boost Wealth 11% Despite War and Sanctions, Says Forbes
Forbes Reports Record Wealth Among Russia's Richest
MOSCOW, April 23 (Reuters) - Russian billionaires increased their wealth by 11% to a record $696.5 billion over the past year despite the war in Ukraine and the toughest Western sanctions ever imposed on a major economy, Forbes Russia reported.
Commodity Exports and Wealth Growth
Russia's richest men are all linked to the vast reserves of natural resources that Russia has exported to global markets for decades - and their wealth has risen as disruptions to trade flows have boosted commodity prices - although Forbes noted that there were no new names at the top of the list.
Top Russian Billionaires in 2024
Forbes ranked Alexei Mordashov, general director of investment firm Severgroup, as Russia's richest billionaire, with a fortune of $37 billion that was up $8.4 billion from last year's ranking.
Vladimir Potanin, chief of Interros and metals producer Nornickel, with a fortune of $29.7 billion, was ranked by Forbes as the second richest in Russia.
Vagit Alekperov, former chief of Lukoil, was ranked third with a fortune of $29.5 billion, and Leonid Mikhelson, CEO of Novatek, and his family were ranked fourth with a fortune of $28.3 billion, Forbes said.
Comparison with Global Billionaires
Once considered to be some of the richest men on the planet, the wealth of Russia's billionaires, many of whom made vast fortunes in the chaos that followed the Soviet Union's collapse, is now far smaller than the top U.S. technology titans.
Elon Musk leads the global Forbes rich list with a fortune of $839 billion. Google's Larry Page is ranked second with a fortune of $257 billion.
Reporting Credits
(Reporting by Reuters; Editing by Guy Faulconbridge and Tom Hogue)
