The business news outlet attributed the rise in the net worth of Russia’s wealthiest individuals to a rebound in the value of “emerging-market assets from currencies to stocks and bonds” following “big losses a year earlier.”
Twenty-three Russians were listed on the richest index and only Dmitry Rybolovlyev, whose net worth is valued at $9.6 billion, saw his wealth shrink by $438 million this year.
Much of Rybolovlyev’s wealth stems from the sale of Russia’s largest producer of potassium fertilizers nearly a decade ago for $6.5 billion. After studying medicine at Russia’s Perm Medical Institute, he went into business with his scientist father in 1990.
In neighboring Ukraine, industrialist Rinat Akhmetov was the only person listed and who saw his coffers grow by $812 million to more than $6 billion.
The United States still boasts the most billionaires with 172, whose net worth grew by $500 billion in 2019.
The richest 0.1 percent of U.S. citizens control a bigger share of their country’s economy than at any time since 1929.
Despite a divorce with his former spouse, e-commerce titan Jeff Bezos is still the world’s richest person with an estimated $116 billion.
In all, the collective wealth of the 500 richest people in the world soared 25 percent to $5.9 trillion this year.