Russia's richest people last year increased their wealth by $72 billion, reaching a total of $577 billion, Forbes magazine reports today, with Vagit Alekperov, former chairman of the largest oil company Lukoil, in first place. In 2021, before Russia's invasion of Ukraine, Forbes magazine estimated that the total assets of Russian billionaires reached $606 billion. High commodity prices over the past two years and Russia's war-focused economic growth, which is muffled by the impact of Western sanctions, have contributed to the rebound in that number's direction. Many Russian billionaires have been hit by Western sanctions as the West sought to punish President Vladimir Putin and those perceived to be close to him for starting the war in Ukraine. Their combined wealth is down to $353 billion in 2022. Alekperov's fortune rose to $28.6 billion from $20.5 billion last year, […]
Source: News Beast
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