From Russia with love... and a lot of rubles
More than 100 billionaires in Russia
1. Alexei Mordashov
2. Vladimir Potanin
3. Vladimir Lisine
4. Vagit Alekperov
5. Leonid Mikhelson
6. Gennady Timchenko
7. Alisher Usmanov
8. Andrei Melnichenko
9. Pavel Durov
10. Suleiman Kerimov
11. Mikhail Fridman
12. Roman Abramovich
13. Tatiana Bakalchuk
14. Mikhail Prokhorov
15. Viktor Rashnikov
16. Leonid Fedun
17. Denis Sverdlov
18. German Khan
19. Iskander Makhmudov
20. Viktor Vekselberg
Who are the Russian Oligarchs, and how did they make their fortunes?
(1/22)
From Russia with love... and a lot of rubles

The Russian oligarchs are the richest people in the country Putin rules. They are currently the target of economic sanctions by Europe, the US and other allied parties. Who are these Russian billionaires, and how much money did they have before the war started?

Who are the Russian Oligarchs, and how did they make their fortunes?
(2/22)
More than 100 billionaires in Russia

Like almost all rich people, Russian billionaires made a lot of money during the pandemic. The number of billionaires in Putin's Russia rose from 99 to 117, and their accumulated wealth went from 385 billion to 584 billion dollars, according to Forbes.

Note that these are the assets of Russian oligarchs before the economic sanctions started.

Who are the Russian Oligarchs, and how did they make their fortunes?
(3/22)
1. Alexei Mordashov

Net worth: $29.1 billion

Industry: Metallurgy and Investment

His shares in the national steel and mining company Severstal and private gold mining company NordGold have soared, and Mordashov and his family's fortune stands at $29.1 billion, or $12.3 billion more than the previous year.

Who are the Russian Oligarchs, and how did they make their fortunes?
(4/22)
2. Vladimir Potanin

Net worth: $27 billion

Industry: Metallurgy

Most of his fortune comes from his 35% stake in palladium and nickel producer Nornickel, a company listed on the Russian stock exchange.

Who are the Russian Oligarchs, and how did they make their fortunes?
(5/22)
3. Vladimir Lisine

Net worth: $26 billion

Sector: Steel and transport

Lisin has a majority stake in Novolipetsk Steel, which is also listed on the Russian stock exchange.

Who are the Russian Oligarchs, and how did they make their fortunes?
(6/22)
4. Vagit Alekperov

Net Worth: $24.9 Billion

Industry: Oil

Alekperov founded Lukoil in the 90s. He owns about 30% of the listed oil giant.

Who are the Russian Oligarchs, and how did they make their fortunes?
(7/22)
5. Leonid Mikhelson

Net worth: $24.9 billion

Sector: Gas and Chemicals

Mikhelson is Gennady Timchenko's partner in the gas-producing company Novatek and in the petrochemical company Sibur.

Who are the Russian Oligarchs, and how did they make their fortunes?
(8/22)
6. Gennady Timchenko

Net worth: $22 billion

Industry: Oil & Gas

Timchenko, together with his business partner Mikhelson, has shares in the gas company Novatek and in the petrochemical company Sibur Holding.

Who are the Russian Oligarchs, and how did they make their fortunes?
(9/22)
7. Alisher Usmanov

Net worth: $18.4 billion

Sector: Steel industry, telecommunications and investment

Usmanov made his fortune making plastic bags, a rare commodity in the former Soviet Union. He was an early investor in Facebook and Chinese electronics company Xiaomi, but his biggest asset is a 49% stake in steel giant Metalloinvest.

Who are the Russian Oligarchs, and how did they make their fortunes?
(10/22)
8. Andrei Melnichenko

Net worth: $17.9 billion

Sector: Coal and fertilizer

He has interests in fertilizer producer Eurochem and coal-fired power station SUEK.

Who are the Russian Oligarchs, and how did they make their fortunes?
(11/22)
9. Pavel Durov

Net worth: $17.2 billion

Industry: Communication

He is also called the Russian Zuckerberg, because in 2013 he created the widely used app Telegram.

Who are the Russian Oligarchs, and how did they make their fortunes?
(12/22)
10. Suleiman Kerimov

Net Worth: $15.8 Billion

Sector: Investments

He lost much of his wealth during the 2008 crisis but recovered by betting on Russia's largest gold producer, Polyus.

Who are the Russian Oligarchs, and how did they make their fortunes?
(13/22)
11. Mikhail Fridman

Net worth: $15.5 billion

Industry: Oil, Finance, Communications & Retail

The main source of income is the assets of the LetterOne Holding and the Alfa Group. He owns the DIA supermarket chain in Spain, Argentina and Brazil.

Who are the Russian Oligarchs, and how did they make their fortunes?
(14/22)
12. Roman Abramovich

Net Worth: $14.5 Billion

Industry: Metallurgy and Investment

In the early 1990s, he began marketing petroleum products. Abramovich's main companies today are Evraz (real estate) and Sibneft.

However, Abramovich is best known in the West as the owner of Chelsea football club.

Who are the Russian Oligarchs, and how did they make their fortunes?
(15/22)
13. Tatiana Bakalchuk

Net worth: $13 billion

Industry: E-commerce

In 2004 she launched the famous online store 'Wildberries'. In the past fiscal year, her income has increased by 1200%, making her one of the most important billionaires in the world.

Who are the Russian Oligarchs, and how did they make their fortunes?
(16/22)
14. Mikhail Prokhorov

Net worth: $11.4 billion

Sector: Investments

Owner of investment bank Renaissance Capital. In 2019, he sold the Brooklyn Nets (NBA) and their stadium, the Barclays Center, to Alibaba Group co-owner Joseph Tsai. Prokhorov made $3.5 billion from the deal.

Who are the Russian Oligarchs, and how did they make their fortunes?
(17/22)
15. Viktor Rashnikov

Net worth: $11.2 billion

Industry: Ferrous metallurgy

He owns 84.26% of Magnitogorsk Iron and Steel Works (84.26%).

Who are the Russian Oligarchs, and how did they make their fortunes?
(18/22)
16. Leonid Fedun

Net worth: $11.1 billion

Industry: Oil & Finance

The main capital consists of the 12.3% of Lukoil that he owns. In addition, together with Alekperov, he owns the Private Assets company that manages closed-end funds. In 2020 alone, Fedun received 420 million in dividends from Lukoil.

Who are the Russian Oligarchs, and how did they make their fortunes?
(19/22)
17. Denis Sverdlov

Net worth: $10.6 billion

Automotive industry

In 2015, he founded Arrival, a start-up that produces electric vehicles. To do this, he attracted investments worth hundreds of millions of dollars from the likes of BlackRock, Hyundai and Kia.

Who are the Russian Oligarchs, and how did they make their fortunes?
(20/22)
18. German Khan

Net worth: $10.1 billion

Industry: Oil, Finance, Communications & Retail

He co-owns LetterOne Holdings, Wintershall DEA (33%) and assets of the Alfa Group consortium.

Who are the Russian Oligarchs, and how did they make their fortunes?
(21/22)
19. Iskander Makhmudov

Net worth: $9.7 billion

Industry: Non-ferrous metallurgy, coal and transportation

The most important investments are in UMMC, Kuzbassrazrezugol and Transmashholding.

Who are the Russian Oligarchs, and how did they make their fortunes?
(22/22)
20. Viktor Vekselberg

Net worth: $9 billion

Sector: Aluminum and investments

Vekselberg's capital is invested in Sulzer (44%), the Swiss companies Oerlikon (19%) and UC Rusal (9.8%).

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