Forbes called the loss of the richest Russians against the backdrop of the situation around Ukraine

Forbes: Russian billionaires lost $27.9 billion amid tensions over Ukraine

According to Forbes, from the end of December 2021 to the end of January 2022, the combined wealth of the richest businessmen in Russia decreased by $27.9 billion. The top three included Mikhelson, Timchenko and Kerimov

The fall in stock indices amid geopolitical risks and the situation around Ukraine affected the fortunes of the richest Russian businessmen, informs Forbes. The magazine refers to Forbes real-time rating, which tracks the wealth of billionaires in real time. According to him, since the end of December 2021, the total wealth of 104 Russians included in the rating has decreased by $27.9 billion.

The magazine took December 20 last year as a starting point, the authors fixed exchange rates and stock quotes on that day. Forbes estimates that 76 Russian billionaires have lost their fortunes since then.

In the top ten were:

• main owner of Novatek and Sibur Leonid Mikhelson — minus $2.1 billion per month; general condition – $ 25.5 billion;
• Member of the Board of Directors of Novatek and Sibur Gennady Timchenko — minus $1.9; general condition – $ 22.8 billion;
• member of the Federation Council Suleiman Kerimov, whose family controls Polyus – minus $ 1.8 billion, the general condition is $ 13.1 billion;
• main owner of Severstal Alexey Mordashov – minus $1.7 billion, total fortune – $24.5 billion;
• founder of electric vehicle manufacturer Arrival Denis Sverdlov – minus $1.6 billion, total fortune – $1.9 billion;
• owner of SUEK and Eurochem Andrey Melnichenko – minus $1.5 billion, total fortune – $23.9 billion;
• founder of TCS Group Oleg Tinkov – minus $1.43 billion, total fortune – $5.4 billion;
• head of MMK Viktor Rashnikov – minus $1.3 billion, total fortune – $11.3 billion;
• co-owner of LetterOne and Alfa Group Mikhail Fridman – minus $1.12 billion, total fortune – $13.9 billion;
• head and main owner of Norilsk Nickel Vladimir Potanin – minus $1.1 billion, total fortune – $25.5 billion.

In relative terms, Sverdlov’s fortunes declined more than others (Arrival shares fell 46% over the month), Arkady Volozh, the founder of Yandex, (by 26%) and Tinkov (by 21%). At the same time, Forbes notes, the fall in Sverdlov’s fortune is not associated with geopolitical risks: Arrival shares are falling due to a slowdown in sales growth and an underestimation of capital requirements.