Russia's Richest Lose US$6.6 Billion From Ukraine Tension

LONDON, March 14, 2014 /PRNewswire/ -- Russia's 10 richest individuals lost as much as US$6.6 billion, or 4.7% of their combined net worth, according to a Wealth-X estimate, after the country's benchmark Micex index plunged nearly 11% last week due to escalating tensions between Russia and Ukraine.

Alisher Usmanov – the country's wealthiest man with interests in mining, telecommunications, media, and sports, including a more than 30 percent stake in Arsenal Football Club – lost US$1.7 billion after a week of market turmoil, shrinking his personal fortune from US$20 billion to US$18.3 billion.

The Uzbek-born Russian oligarch reportedly invested US$97 million to build communications infrastructure, a sports complex, and a standby technical centre for the recently concluded winter Olympics in the Russian resort town of Sochi.

Among the billionaires who appear in Wealth-X's list of the top 10 richest Russians, Vladimir Potanin – the president of Interros, one of Russia's largest private investment companies – lost the largest chunk of his fortune in the past week. Potanin's net worth was reduced to US$10.4 billion after he lost about US$2 billion.

The current combined net worth of the top 10 wealthiest Russians is US$133.7 billion, compared to US$140.3 billion, where it stood prior to the recent escalation in tensions between Russia and Ukraine.

Below are the top 5 wealthiest Russians and their net worth:

Rank

Name

Net Worth

(US$ billion)

Net Worth Change Since 7 March 2014

(US$ billion)

1

Alisher Usmanov

18.3

- 1.7

2

Viktor Vekselberg

17.2

0.0

3

Mikhail Fridman

15.2

- 0.8

4

Gennady Timchenko

15.1

- 0.4

5

Andrey Melnichenko

13.5

0.0

For the full list, visit http://www.wealthx.com/articles/2014/top-10-richest-russians-net-worth-list

About Wealth-X
 

Wealth-X is the definitive source of intelligence on the ultra wealthy with the world's largest collection of curated research on ultra high net worth (UHNW) individuals, defined as those with net assets of US$30 million and above. Headquartered in Singapore, it has 13 offices on five continents. (www.wealthx.com)
 

SOURCE Wealth-X



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