A Merry Christmas for Russia's billionaires

RUSSIA / FSU POLITICS - In Brief 02 Dec 2020 by Alex Teddy
On December 1 Bloomberg revealed that Russian billionaires have gained USD 468 million to their fortunes in 2020. The stock market rally in November really helped this.Of the 22 richest people in Russia: 16 of them gained a total of USD 14 billion and 6 lost a total of USD 13.6 billion. Suleiman Kerimov gained USD 4.29 billion despite being under US sanctions. Vagit Alekperov lost USD 5.6 billion. Vladimir Potanin is still the country's richest person despite disasters for his company Nornickel. He has USD 27.6 billion. He lost only USD 400 million. Vyacheslav Moshe Kantor is a fertilizer producer and is worth USD 5 billion. He gained USD 452 million this year.There are 102 billionaires in Russia. Russia has the 4th highest number of billionaires in the world. Russian billionaires have USD 468 billion between them. However, the growth in their wealth is behind that of most countries. France and India are probably going to overtake Russia in the number of billionaires.

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