Russian billionaires continue to steadily increase their wealth despite the unstable economic situation in Russia. According to Bloomberg Billionaires Index, the total wealth of the richest Russians grew by $20.5 bio over the first quarter of 2019.
The ranking was based on the assessment of company shares owned by the billionaires. For some companies, the calculation was based on the capitalization to EBITDA ratio.
The BBI ranking lists the world’s 500 richest people, including 23 Russians. One of them, Nornickel owner Vladimir Potanin, earned $1.36 bio over January to March and his wealth increased to $21 bio. He is ranked first among the Russian billionaires. Novolipetsk Steel beneficiary Vladimir Lisin, who managed to increase his worth by $2.44 bio to $20.3 bio, was ranked second. He is ahead of Novatek co-owner Leonid Mikhelson who earned only $575 mio and increased his wealth to $20 bio.
The ranking also lists Lukoil co-owner Vagit Alekperov, Severstal owner Alexei Mordashov, MegaFon and Metalloinvest owner Alisher Usmanov, Roman Abramovich (Evraz), Gennady Timchenko (Novatek and Sibur) and Viktor Vekselberg (Renova), RIA Novosti reports.