Who Is The Richest Person In Russia: Record Number Of Billionaires

Russian Billionaire Vagit Alekperov

The number of Russian billionaires on Forbes' most recent list has reached a historic high of 125. According to the official website of Forbes business magazine (USA), the number of Russian billionaires has risen by 15 in the last year.

For the first time, Mr. Vagit Alekperov, co-owner of Lukoil Company, is the richest person in Russia, with estimated assets of approximately 28.6 billion USD, up from 20.5 billion USD the previous year. The increase in the value of this company's assets can be attributed to the nearly doubling of the price of Lukoil shares on the Moscow Exchange (from 4,000 rubles to 7,500 rubles), as well as dividend payments.

Alekperov resigned from his position as CEO of Russia's second-largest oil producer in 2022, after nearly three decades in the role. The move came after the billionaire was added to the UK and Australia's sanctions lists as part of Western sanctions against Russia over the military conflict in Ukraine.

Alekperov is ranked 59th on Forbes' global list. He surpassed Andrey Melnichenko, who is currently ranked seventh in Russia, to claim the top spot. Mr. Melnichenko made a fortune in fertilizer production and coal mining, but his net worth fell from $25.2 billion to $21.1 billion by 2023.

Leonid Mikhelson, co-owner of Novatek, Russia's second-largest natural gas producer, finished in second place. His assets increased by 5.8 billion USD, reaching 27.4 billion USD.

Vladimir Lisin, a major shareholder in Russia's NLMK Steel Company, was once again named the third richest Russian businessman. His assets grew by $4.5 billion to $20.8 billion in 2023.

It should be noted that the most frequent leader on the list of Russian billionaires is Vladimir Lisin (four times), who was dethroned last year by billionaire Andrei Melnichenko. The total wealth of all Russian billionaires on the list increased 14% this year to $576.8 billion, down from a peak of $606.2 billion in 2021.

The top ten richest people in Russia also include Chairman of steel giant Severstal Alexey Mordashov (25.5 billion USD), Owner of mining giant Norilsk Nickel Vladimir Potanin (23.7 billion USD), Director Telegram executive Pavel Durov (15.5 billion USD), Co-owner of mobile operator Megafon Alisher Usmanov (13.4 billion USD), and Founder of Russia's largest private bank Alfa Bank Mikhail Fridman (13.1 billion USD).

Overall, according to Forbes' list of billionaires this year, the number of billionaires in the world has reached a new high, with 2,781 people, up 141 from last year and 26 more than the record set in 2021.

Bernard Arnault, the Chairman and CEO of LVMH, is currently the world's richest person, worth 233 billion USD. Elon Musk, CEO of Tesla, has 195 billion USD, Amazon Founder Jeff Bezos has 194 billion USD, and Larry Ellison, Chief Technology Officer of Oracle, has 107 billion USD.

The asset value of tycoons reached 14,200 billion USD, up 2,000 billion USD from last year. Approximately two-thirds of the billionaires on the list saw their assets grow.

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