Top 10 Russian Billionaire In 2020
- According to Forbes The 10 wealthiest people in Russia are still super rich—but are $27 billion poorer than a year ago, following a tough stretch for the country’s economy.
- The richest people in Russia are starting off the new decade on a low note. Faced with the global coronavirus pandemic, an oil war with Saudia Arabia and a weaker ruble, the country’s 10 wealthiest are worth $27 billion less than a year ago.
- The country’s richest person is now oligarch Vladimir Potanin, one of just two top 10 Russians whose fortune rose this year. He’s worth $19.7 billion, up from $18.1 billion in 2019, thanks to hefty dividends from Nornickel, the publicly traded metals giant he runs. Last year he was Russia’s sixth-wealthiest person.
- The other top 10 Russian tycoon to see his net worth rise in the past year: Alisher Usmanov, whose fortune is tied to a stake in iron ore and steel giant Metalloinvest, plus a diversified basket of investments, including shares of Facebook, Xiaomi and other telecom, mining and media companies. His fortune edged up about $800 million, to $13.4 billion.
- Leonid Mikhelson fell from first to third place among Russians this year, as shares of his natural gas giant Novatek stock fell by 50%, helping lop nearly $7 billion off his net worth.
- Steel baron Vladimir Lisin lost $3.2 billion, after shares of his Novolipetsk Steel fell nearly 30% in late February and early March, when global markets began to unravel.
List of the top 10 richest people in Russia
VLADIMIR POTANIN NET WORTH: $19.7 BILLION
SOURCE OF INCOME: METALS
Back in the top spot as Russia’s richest person, Potanin is credited with authoring the controversial “loans for shares” scheme that helped politically connected Russians gain control of state-owned companies during the country’s privatization in the 1990s. Today most of his wealth is parked in a 35% stake in Nornickel.
VLADIMIR POTANIN is currently the Richest Man in Russia, With an estimated net worth of $19.7 billion dollars, Last year he was Russia’s sixth-wealthiest person.
VLADIMIR LISIN NET WORTH: $18.1 BILLION
SOURCE OF INCOME: STEEL, TRANSPORT
Lisin started out as an electrical fitter in a Siberian coal mine, then became a steelworker before working for a group of traders that came to dominate Russia’s aluminum and steel exports. When the partners went their separate ways in 2000, Lisin got a majority stake in Russia’s Novolipetsk Steel.
LEONID MIKHELSON NET WORTH: $17.1 BILLION
SOURCE OF INCOME: GAS, CHEMICALS
Mikhelson owes his wealth to stakes in natural gas producer Novatek and petrochemical company Sibur. He’s partners in both ventures with Gennady Timchenko, who is said to have close ties to President Vladimir Putin, and he has reportedly done deals with Putin’s alleged former son-in-law Kirill Shamalov (who is also a billionaire).
ALEXEY MORDASHOV & FAMILY NET WORTH: $16.8 BILLION
SOURCE OF ICOME: STEEL, INVESTMENTS
Mordashov was born to two steel mill workers in the Soviet Union, and now boasts assets including stakes in travel company TUI Group and equipment producer Power Machines.
VAGIT ALEKPEROV NET WORTH: $15.2 BILLION
SOURCE OF INCOME: OIL
A former Caspian Sea oil rig worker, Alekperov became a deputy minister overseeing the oil industry in the Soviet Union, then, in 1991, took three large state-controlled oil fields and set up Lukoil, now Russia’s largest independent oil company. He owns nearly a quarter of the publicly traded firm.
GENNADY TIMCHENKO NET WORTH: $14.4 BILLION
SOURCE OF INCOME: OIL, GAS
Timchenko’s wealth comes from his stakes in gas company Novatek and petrochemical producer Sibur Holding. He’s reported to have close ties to President Vladimir Putin.
ALISHER USMANOV NET WORTH: $13.4 BILLION
SOURCE OF INCOME: STEEL, TELECOM, INVESTMENTS
Usmanov derives his wealth from his stake in iron ore and steel giant Metalloinvest, plus investments in Facebook, Xiaomi and other telecom, mining and media companies.
MIKHAIL FRIDMAN NET WORTH: $13 BILLION
SOURCE OF INCOME: OIL, BANKING, TELECOM
Fridman controls investment companies Alfa Group and LetterOne. He cofounded what became Alfa Group with his college buddies and fellow billionaires German Khan and Alexei Kuzmichev.
ANDREY MELNICHENKO NET WORTH: $12.5 BILLION
SOURCE OF INCOME: COAL, FERTILIZERS
Melnichenko owns majority stakes in fertilizer producer Eurochem and coal energy company SUEK. His first business venture was a chain of currency-exchange booths he started in the 1990s.
ROMAN ABRAMOVICH NET WORTH: $11.3 B
SOURCE OF INCOME: STEEL, INVESTMENTS
Abramovich’s fortune stems from his stakes in steel giant Evraz and nickel and palladium producer Nornickel. He boasts the world’s second-largest yacht and owns the Chelsea football team. In March, he agreed to pay for National Health Service staff to stay at the Stamford Bridge Millennium Hotel, which is around the corner from Westminster Hospital in London.