US EditionRussian billionaires boost wealth by 11% over a year despite war and sanctions, Forbes says
Forbes said 155 Russian billionaires gained wealth as higher commodity prices and a stronger ruble offset war and sanctions.
- On Thursday, April 23, 2026, Forbes Russia reported that the combined wealth of 155 Russian billionaires rose 11% over the past year to a record $696.5 billion.
- Higher commodity export revenues and a roughly 16% stronger ruble buoyed fortunes, allowing billionaires to weather the war in Ukraine and Western sanctions.
- Severgroup General Director Alexei Mordashov leads with $37 billion, followed by Interros chief Vladimir Potanin , former Lukoil chief Vagit Alekperov , and Novatek CEO Leonid Mikhelson .
- This accumulation of wealth demonstrates the resilience of Russia's economic elite, preserving significant revenue and influence despite the toughest Western sanctions ever imposed.
- Individual Russian fortunes remain far below global tech magnates like Tesla CEO Elon Musk and Google's Larry Page .
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The wealth of Russian billionaires has increased by 11 percent over the past year to a record $696.5 billion, or about 14.5 trillion crowns, according to the Russian version of Forbes magazine. The richest Russians have more combined than ever before.
Russian billionaires’ wealth up 11% despite war and sanctions
MOSCOW - Russian billionaires increased their wealth by 11% to a record $696.5 billion over the past year despite the war ‌in Ukraine and the toughest Western sanctions ever imposed on a major economy, Forbes Russia has reported.
Russian billionaires boost wealth by 11% over a year despite war and sanctions, Forbes says
Russian billionaires increased their wealth by 11% to a record $696.5 billion over the past year despite the war in Ukraine and the toughest Western sanctions ever imposed on a major economy, Forbes Russia reported.
The war of aggression against Ukraine not only leads to losses in Russia. Some Russian billionaires can further expand their wealth, but their wealth is still far below the value of the richest person in the world.
Russian Billionaires Thrive Despite Sanctions and War
The wealth of Russian billionaires surged by 11% to an unprecedented $696.5 billion in the past year, according to Forbes Russia. Despite Western sanctions and the ongoing war in Ukraine, figures like Alexei Mordashov, Vladimir Potanin, and Vagit Alekperov continue to amass fortunes linked to Russia's natural resources.
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