Combined wealth of Russian billionaires breaks historical record of 2021, Forbes says

The combined wealth of Russian billionaires has reached a record US$625.5 billion, surpassing the previous record of US$606.2 billion set in 2021, prior to Moscow's full-scale invasion of Ukraine.

Source: Forbes

Details: The number of billionaires in Russia increased from 125 to 146 over the past year. Vagit Alekperov, a shareholder of Russian energy giant Lukoil, remained at the top of the Russian rankings, with an estimated net worth of US$28.7 billion.

Forbes reported that the wealth of several billionaires has seen a sharp increase. Senator from Dagestan Suleiman Kerimov and his family saw their wealth rise by nearly US$6 billion. Alexei Mordashov, CEO of Severgroup, a Russian group of investment companies, and his family increased their wealth by US$3.1 billion. Mikhail Fridman, co-owner of Alfa-Bank, gained US$2 billion, and Leonid Mikhelson, head of gas firm Novatek, saw his wealth rise by US$1 billion.

Forbes also notes that several entrepreneurs are no longer included in the Russian ranking. Telegram app founder Pavel Durov and Andrei Melnichenko, the former owner of global fertiliser company Eurochem, are now among the wealthiest in the UAE, while Alisher Usmanov is listed among the richest in Uzbekistan.

Overall, the number of billionaires worldwide has increased by 247, surpassing 3,000. Their combined wealth has reached a record US$16.1 trillion. For the first time in history, 15 individuals have amassed over US$100 billion each. American billionaire Elon Musk has become the wealthiest person in the world, doubling his wealth over the past year.

Background:

• Russian Senator Suleiman Kerimov, one of Russia's wealthiest individuals, continued to hold a stake in Elon Musk's SpaceX company through a trust fund even after the first Donald Trump administration sanctioned it.
• Hungary may block the extension of EU sanctions against around 2,000 Russians if billionaire Mikhail Fridman is not removed from the list.

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