Elena Baturina is no longer Russia's richest woman

Elena Baturina is no longer Russia's richest woman

The founder of the online retailer Wildberries Tatyana Bakalchuk topped the list of Russia's richest women, Forbes magazine said.

According to the publication, her fortune reached $1.4 bln. Bakalchuk pushed off the permanent leader of the list of past years, Elena Baturina, the head of Inteco Management and widow of Moscow's former mayor Yuri Luzhkov, with the fortune of $ 1.2 bln.

It is noted that a new assessment of Bakalchuk’s condition was the result of changes that occurred with her main asset, the Wildberries online store. According to the magazine, in 2019, Wildberries turnover grew by 88% and amounted to 223.5 bln rubles.

According to Forbes, for the first time Bakalchuk entered the list of the richest people in Russia in 2018, and then her fortune was estimated at $ 600 mln. A year later, it almost doubled, which allowed her to take second place after Baturina, TASS reported.

In 2019, Wildberries turnover increased by 88% and reached 223.5 bln rubles ($3.63 bln), according to the company’s statement.

Wildberries is an online retailer in the EAEU countries that has been operating on the market for 15 years. The company is present in the markets of Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia, and Poland. The range of Wildberries includes over 3.6 mln products, about 40% of which are produced in Russia. Wildberries turnover in 2018 increased by 72% and reached 118.7 bln rubles ($1.93 bln).