Fortunes of richest Russians up by over $11bn since start of year

The fortunes of richest Russian businessmen have increased by $11.084 billion since the beginning of 2024, according to the Bloomberg Billionaires Index, which is calculated on the basis of the cost of companies’ shares among other things.

According to Bloomberg Billionaires Index, since January 1, 2024, Andrey Melnichenko, founder of the EuroChem and SUEK companies, has earned $3.86 bln bringing his fortune to $22.7 bln.

The cost of his cash investments and personal assets is partially based on reports of local media outlets and figures provided by representatives of press services. The fortune of the main shareholder of Severstal Alexey Mordashov has increased by $2.08 bln to $23 bln. The cost of his cash investments is based on the analysis of dividends, insider deals, taxes and market conditions. Chairman of the board of directors of NLMK Vladimir Lisin has earned $1.49 bln, which brings his fortune to $25.4 bln (the cost of his cash investments and personal assets is partially based on the analysis of dividends, insider deals and market conditions).

Shareholder of Russia’s Novatek natural gas producer Gennady Timchenko nursed the heaviest losses in the period, with his fortune losing $1 bln to $13.2 bln. The value of the billionaire's cash funds is based on the analysis of dividends, insider deals, taxes and market conditions.

Since March 2012, the agency has been publishing the Bloomberg Billionaires Index, which includes information on the wealth of the 500 richest people on the planet.