Russian millionaires are now far fewer than before
Date
1/11/2023 2:38:09 AM
(MENAFN) The list of the wealthiest people in Russia has been significantly influenced, according to the most recent estimates by Forbes, by the extraordinary penalties imposed against Russian individuals since the start of Moscow's military operation in Ukraine.
Additionally, data compiled by the publication reveals that the fortunes of individuals still at the top of the nation's affluent list have declined. The head of steel company Severstal, Alexey Mordashov, is at the top of the list of largest losers, with his fortune falling by USD11.1 billion to USD18.4 billion in last year.
According to a study from Forbes Russia on Tuesday, 68 Russian businesspeople whose capital in December last year topped USD1 billion saw their fortunes decline over the course of the year, “western sanctions have forced many of [billionaires] to bail out their multibillion-dollar empires, while the stock market crash has lowered fortune estimates.”
Tatyana Bakalchuk, the CEO of Wildberries, the largest e-commerce and delivery company in Russia, came in second after Mordashov with a wealth that had almost halved to USD4.7 billion. Oleg Tinkov, the founder of Tinkoff Bank, lost USD5.9 billion after disclosing in October that he had abandoned his Russian citizenship. According to reports, he had an estimated USD870 million in wealth at the end of the previous year.
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