• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Russian Billionaires have lost $44B of their wealth in the last 1 year

03/06/2022
Reading Time: 3 mins read
Russian billionaires, ghanatalksbusiness.com

Credit: Bitcoin world

0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

StockApps.com has analyzed the top 500 wealthiest people globally. It concludes that the 18 Russian billionaires who are featured in the list are $44.445billion poorer in YTD figures. They have a combined net worth of $244.87B, down from the $289.315 they held a year ago.

Edith Reads StockApps.com’s finance expert attributes those losses to several factors. Commenting on the data, she said, “The Russian oligarchs’ woes are due to several factors. Firstly, Russia’s incursion into Ukraine has attracted sanctions both on the nation and Vladimir Putin’s close associates. That has seen them suffer asset freezes and seizures. Again a weak ruble and biting inflation have further conspired to erode their holdings.”

Who has suffered the most loss?

Immediate former Chelsea FC owner Roman Abramovic suffered the most loss. He lost $5.43B from his previous $18 B holdings, a 30% drop. Mr Abramovic had to sell off his club following the British government sanctions.

Another that took a big hit was Gennady Timchenko. Russia’s eighth richest man lost $5.76B, representing a 26% drop from the $22.46B he held before. Mr Timchenko is the founder and owner of the Volga Group, a private investment group. 

Laughing all the way to the bank

It hasn’t been all gloom and doom for all the Russian billionaires, though. Eight of them grew their net worths by 118% despite the hostile operating environment. The eight increased their combined wealth by $15.32B to $98.84B.

Russia’s richest man Vladimir Potanin recorded the most gains of the lot. He added $5.81B to the $30.69B he held a year ago. Potanin made his fortune first in the metals industry. He has expanded his wealth by buying Russian banks at a discount.

Others that made significant gains were Vyacheslav Kantor and Andrey Guryev, who added $4.83B and $3.01B to their wealth.

The full story and statistics can be found here: Russian Billionaires have lost $44B of their wealth in the last 1 year

Previous Post

She left the bank after 7 yrs to pursue an internationally recognized luxury hair business

Next Post

African Economic Outlook 2022: Africa’s 2021 economic rebound impacted by Covid-19 and Russia-Ukraine war

Related Posts

Potential of AfCFTA,,ghanatalksbusiness.com

E-commerce, payments and unlocking the potential of the AfCFTA

01/07/2022
world's most valuable brands

Apple ranks No.1 as World’s Most Valuable Brand, check out other top performers

29/06/2022
Africa's top 10 investment destinations, ghanatalksbusiness.com

CEOs reveal Africa’s top 10 investment destinations

28/06/2022
StockNow App, ghanatalksbusiness.com

StockNow to bring affordable working capital to Africa’s informal retail market

28/06/2022
Financial risk management, ghanatalksbusiness.com

Finance, Risk, and Financial Risk Management: From a Business Manager’s Standpoint

27/06/2022
5G Mokki

5G Mokki, the African Technology Space Network that will impact Global Businesses

20/06/2022
Next Post
African economic outlook, ghanatalksbusiness.com

African Economic Outlook 2022: Africa’s 2021 economic rebound impacted by Covid-19 and Russia-Ukraine war

mobile money taxes, ghanatalksbusiness.com

Africa's mobile-money taxes risk driving poor out of digital economy

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In