The 24 richest people in Russia lost $39,000 million dollars in less than 24 hours after his country invaded Ukraine, according to the Bloomberg Billionaires Index.
The loss came after Moscow’s benchmark Russia MOEX index collapsed and closed down 33% on Thursday.
Russian billionaires lost more money on Thursday than they had lost so far this year through Wednesday.
The one who lost the most money was Vagit Alekperov, president of the company Moscow-based oil company Lukoil, who saw its wealth drop by a third in just one day, when the company’s share price plummeted by 26% on Thursday.
Alekperov now has a net worth of $13,000 million dollars, which is well below the The $13,200 millions of dollars that I had before.
Vladimir Potanin, the richest man in Russia, lost $3,12 million dollars after the price of the shares of the company Norilsk Nickel, of which he is president, plummeted by 26%.
Russia’s billionaires could lose more money as Western sanctions intensify. The United States on Tuesday announced sanctions that include measures against Russian oligarchs and their relatives. On Thursday, President Joe Biden imposed another round of sanctions.
On Tuesday, the UK also announced sanctions on five Russian banks and three individuals. Among them was the oligarch Gennady Timchenko, who has close ties to Putin. Timchenko is the 11th richest person in Russia with a net worth of $12,39 millions of dollars.
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