US EditionRussian billionaires boost wealth by 11% over a year despite war and sanctions, Forbes says
Forbes Russia said commodity exports and a stronger ruble lifted the fortunes of 155 Russian billionaires despite war and sanctions.
- On Thursday, Forbes Russia reported that the combined wealth of 155 Russian billionaires rose 11% to a record $696.5 billion over the past year, despite the war in Ukraine and Western sanctions.
- Strong commodity export revenues and a roughly 16% strengthening of the ruble drove these gains, as disruptions to trade flows boosted commodity prices for metals, oil and gas.
- Severgroup general director Alexei Mordashov leads the list with $37 billion, followed by Interros chief Vladimir Potanin at $29.7 billion, former Lukoil head Vagit Alekperov at $29.5 billion, and Novatek CEO Leonid Mikhelson with $28.3 billion.
- Global tech magnates command significantly larger fortunes; Tesla and SpaceX founder Elon Musk leads with $839 billion, while Google co-founder Larry Page holds $257 billion, far outpacing Russian figures.
- Western efforts to pressure Russia through sanctions face complications as policymakers reassess design, given that energy and metals markets have adapted to trade flow disruptions, sustaining billionaire wealth.
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According to a report, the Russian billionaires were able to increase their assets despite war and inflation, and they were probably helped by the rise in raw material prices.
The richest man in Russia, Alexei Mordashov, for the first time exceeded 30 billion dollars of fortune, according to Forbes magazine.Mordáshov, the largest shareholder of Severstal, the country's largest mining and south-western company, accumulates some 37 billion dollars, says the magazine that publishes annually the list of millionaires of this country.According to Forbes, the tycoon, whose fortune was 28,600 million in 2025, benefited greatl…
Russia's richest men are mostly linked to the vast reserves of natural resources that Russia has exported to global markets for decades.
The increased raw material prices make Russia's empires even richer. A fortune of 25.7 billion dollars means only fifth place in the top list.
The fortune of the Russian billionaires reaches a record of 595 billion euros, up 11% despite the sanctions. They are carried by raw materials, yet they remain far behind the American giants of the...
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