Russia’s wealthiest witnesses huge increase in fortune
Date
10/2/2024 5:50:39 AM
(MENAFN) Despite facing significant sanctions pressure, the collective wealth of Russia’s richest individuals has experienced a remarkable increase of USD31 billion since the beginning of the year, as detailed in the Bloomberg Billionaires Index. As of September 30, 2023, a total of 25 Russian billionaires are ranked among the world’s 500 wealthiest people.
Leading this group is Vladimir Potanin, the owner of Norilsk Nickel, a major player in the mining sector. Potanin, who ranks 56th globally, has seen his net worth rise by USD1.57 billion in the first three quarters of the year, bringing his total wealth to approximately USD32.6 billion. Following him is Vladimir Lisin, chairman of NLMK, Russia's largest steelmaker, who has added USD4.27 billion to his fortune this year, now estimated at USD28.2 billion. Notably, Lisin began the year ranked fourth among Russian billionaires.
In third place is Vagit Alekperov, the former head of Lukoil, a major energy company in Russia, who still retains a significant shareholding in the firm. Alekperov’s wealth has surged nearly USD3 billion this year, raising his net worth to around USD27.5 billion.
The most substantial increase in wealth belongs to Andrey Melnichenko, founder of EuroChem, a fertilizer producer, and Suek, a thermal coal supplier. Melnichenko has seen his fortune grow by over USD6 billion between January and September, bringing his total wealth to an estimated USD25 billion, making him the sixth-richest individual in Russia.
Despite being subject to unprecedented Western sanctions following the escalation of the Ukraine conflict in 2022, Potanin, Alekperov, and Melnichenko have managed to significantly enhance their fortunes. This unexpected financial growth highlights the complex dynamics at play in Russia's economy and the resilience of its wealthiest citizens amid ongoing geopolitical tensions. As the situation evolves, the financial trajectories of these billionaires will continue to attract attention and scrutiny.
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