Despite Ukraine War, Russia's richest have become richer

Moscow: Despite unprecedented Western sanctions placed on the nation’s businessmen, Bloomberg’s Billionaires Index shows that the net worth of the wealthiest individuals in Russia has increased by $10.4 billion since the year’s beginning.

The owner of the massive mining company Norilsk Nickel, Vladimir Potanin, was once again ranked as the wealthiest businessperson in Russia, according to the index, with a fortune estimated to be worth $28.5 billion.

The second-place finisher was Leonid Mikhelson, a co-owner of Novatek, the country’s second-largest natural gas supplier. His reported $516 million in earnings have increased his net wealth to $25.1 billion.

The third-richest businessperson in Russia was identified as Vladimir Lisin, the majority owner of the NLMK steel firm in Russia. Since the start of the year, he has made $905 million, bringing his total wealth to $20.8 billion.

Alexey Mordashov, chairman of the massive steel company Severstal, came in after Lisin on the index in fourth position with a total of $20.2 billion. His wealth increased by $1.54 billion.

Alisher Usmanov, a co-owner of the Megafon mobile operator, rose to fifth position after increasing his wealth by $738 million over the previous two months to $19.2 billion.

Vagit Alekperov, the former boss of Lukoil, is also on the list of the wealthiest individuals in Russia. According to the index, he has experienced the biggest increase in wealth since the year’s start, adding $2.43 billion to his $17.8 billion total.

Based on the share prices of the businesses they own, the Bloomberg Billionaires Index ranks the 500 richest people in the globe. There are presently 22 Russians on the list.

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