The combined wealth of Russia's billionaires has increased by $8.74 billion between January and August, the Bloomberg Billionaires Index showed on Monday.
MOSCOW (Pakistan Point News / Sputnik - 03rd September, 2018) The combined wealth of Russia's billionaires has increased by $8.74 billion between January and August, the Bloomberg Billionaires Index showed on Monday.
Leonid Mikhelson, the chairman of the management board of energy company Novatek, has remained the richest during this period, with his net worth growing from $16.6 billion in January to $20.3 billion now.
Alexey Mordashov, the chairman of the board of steel and mining company Severstal, was the second richest Russian billionaire. His net worth grew by $108 million to $19.8 billion over eight months.
Vladimir Lisin, the chairman of the board of NLMK Group, the world's largest steel manufacturer, was third in the ranking. His net worth went up $1.33 billion since January reaching $19.4 billion last month.
The wealth of Vladimir Potanin, the president of Nornickel, Russia's biggest metals and mining company, and the fourth richest person in the country, decreased by $608 million to $18.3 billion.
Andrey Melnichenko, the co-founder of the Eurochem fertilizers producer, was fifth in the ranking. The businessman's net worth grew by $2.06 billion to $15.9 billion.
Viktor Vekselberg, the chairman of industrial conglomerate Renova, lost $947 million since January with his net worth currently standing at $15.3 billion. However, the net worth of the next richest Russian, President of energy giant LUKoil Vagit Alekperov, increased by $2.37 billion to $15 billion.
Gennady Timchenko, who owns shares in Novatek and oil processing company Sibur, has gained over $3.36 billion over the last eight months. His net worth is $14.5 billion. Alisher Usmanov, who owns shares in metals company Metalloinvest, mobile operator Megafon and online portal Mail.ru, lost $511 million; his net worth currently amounts to $14 billion.
Roman Abramovich, who owns stakes in the steel company Evraz, made $1.29 billion. His net worth stands at $13.8 billion.
Iskandar Makhmudov, the president of the Ural Mining Metallurgical Company (UMMC), lost the most money among Russia's billionaires over the first eight months of this year; his net worth decreased by $2.26 billion to $4.21 billion.
Russian businesses as a whole have also suffered from various external and external events in 2018. The United States continued introducing sanctions on Russia which restrict cooperation with many Russian companies for western investors. Moreover, in August, Russian presidential aide Andrei Belousov suggested in a letter to President Vladimir Putin that taxes on Russian metallurgic companies be raised, which resulted in a sharp drop in the cost of these companies' shares.
