Russia’s rich get richer – Bloomberg

The sanctioned country's top billionaires have reportedly seen their fortunes grow this year

The collective net worth of Russia’s wealthiest people has jumped by $10.4 billion since the beginning of the year despite unprecedented Western sanctions imposed on the country’s businessmen, according to Bloomberg’s Billionaires Index.

Vladimir Potanin, the owner of mining giant Norilsk Nickel, has led the ranking once again as the richest Russian businessman on the list, with his fortune estimated to be at $28.5 billion, the index showed.

Leonid Mikhelson, a co-owner of Russia’s second-largest natural gas producer Novatek, came in second. He has reportedly earned $516 million, bringing his net worth up to $25.1 billion.

Vladimir Lisin, the majority shareholder of Russia’s NLMK steel company, was ranked as the third-richest Russian businessman. He has earned $905 million since the beginning of the year, increasing his fortune to $20.8 billion.

Lisin was followed by Alexey Mordashov, the chairman of steel giant Severstal, who took fourth place on the index, with a total of $20.2 billion. His net worth has grown by $1.54 billion.

READ MORE: Sharp decline in number of Russian billionaires – Forbes

Alisher Usmanov, a co-owner of the Megafon mobile operator, has increased his fortune by $738 million over the past two months to $19.2 billion and was ranked in fifth place.

The list of Russia’s richest people also includes Lukoil’s ex-boss Vagit Alekperov, who recorded the biggest gain since the beginning of the year, adding $2.43 billion to his $17.8 billion fortune, according to the index.

The Bloomberg Billionaires Index is a ranking of the world’s 500 richest people and is calculated on the basis of the share price of the companies they own. The list currently includes 22 Russians.

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