Russian Billionaires Lost Almost $31.5 Billion

By Marko Vidrih on The Capital

The total wealth of the richest Russians in January-May 2020 decreased by $31.48 billion; The co-owner of Novatek Leonid Mikhelson and Gennady Timchenko, who owns shares in Novatek and Sibur, lost the most, based on the Bloomberg Billionaires Index (BBI) rating.

The index is calculated based on the value of shares in companies in which billionaires own shares. For some companies, the calculation is based on the ratio of company capitalization to EBITDA or share price to earnings per share. In total, the BBI rating includes the 500 richest people in the world. Currently, it includes 24 Russians.

The wealth of one of the main owners of Norilsk Nickel Vladimir Potanin since the beginning of the year exploded from $317 million to $28.4 billion. Thus, he remains the richest Russian on the BBI list.

The second place belongs to the co-owner of Novatek Leonid Mikhelson, whose capital, however, has decreased by $5.74 billion since the beginning of the year to $18.8 billion.

According to the results of the first five months of the year, the main beneficiary of NLMK is Vladimir Lisin — his wealth decreased in January-May by $3.11 billion, to $18.3 billion.

The fourth line was taken by the main owner of Severstal Alexei Mordashov. Its capital decreased by $2.45 billion — up to $17.5 billion. In fifth place is the co-owner of Lukoil Vagit Alekperov. His fortune since the beginning of the year fell by $4.79 billion — up to $17.5 billion.

Alisher Usmanov ( Metalloinvest, Megafon ) ranks sixth in the rating — his fortune grew by $ 570 million, to 17.2 billion. Seventh place was taken by Roman Abramovich (Evraz ): his wealth amounted to $15.2 billion is down $1.19 billion.

Eighth place went to the beneficiary of EuroChem and SUEK Andrei Melnichenko, whose fortune declined by $528 million — to $14.8 billion. In ninth place, the main owner of Renova Viktor Vekselberg — his fortune declined by 897 million, to $13.9 billion.

Closes the top 10 Russian billionaires in the BBI ranking Gennady Timchenko, who in January-May lost $5.27 billion, and his fortune amounted to $12.9 billion.

Russian Billionaires Lost Almost $31.5 Billion was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.

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