Russian billionaires gain leading wealth rebound

Russian billionaires gain leading wealth rebound

The 23 Russian billionaires on the Bloomberg Billionaires Index added $52.9 billion to their fortunes in 2019, the most in four years.

The index is calculated basing on the share price of the companies, in which the billionaires have stakes. For some firms the calculation is done basing on a capitalization to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio or a share price to earnings per share ratio. The rating comprises 500 wealthiest people of the world, including 23 Russians.

Vladimir Potanin, one of the core owners of metals giant Norilsk Nickel, ranked number one among the richest Russians with a fortune of $28.2 billion, an increase of $8.5 billion.

Independent gas producer Novatek CEO Leonid Mikhelson remained in the second position with a $24.6 billion wealth, which has grown by $5.2 billion since the beginning of the year.

Oil major Lukoil’s co-owner Vagit Alekperov remained third with a $22.3 billion wealth, a $6.22 billion increase.

Russia’s fourth richest man is NKMK steel plant owner Vladimir Lisin with a fortune of $21.2 billion, which rose by $3.46 billion over the year. Severstal owner Alexei Mordashov was fifth richest with a capital rise by $2.51 billion to $20 billion.

Russia’s sixth richest man is Gennady Timchenko, the owner of stakes in Novatek and Sibur, whose capital increased by $4.35 billion to $18.2 billion.

Metalloinvest and MegaFon owner Alisher Usmanov remained in the seventh position with a wealth of $16.7 billion, a $2.51 billion increase. Roman Abramovich, an owner of Evraz steel company, remained the eighth. His fortune rose by $2.1 billion to $16.2 billion.

Eurochem and SUEK owner Andrei Melnichenko was ranked ninth. His wealth rose by $2.81 billion to $15.3 billion. Renova owner Viktor Vekselberg with a fortune of $14.8 billion, a rise by $1.67 billion, ranked tenth.

In 2018, Russian billionaires lost almost $6 billion. Potanin and Mikhelson ranked first and second, Lisin third, Mordashov fourth and Alekperov fifth.

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