business  financial  make money  capital  trading Putin Vladimir Potaninbusiness  financial  make money  capital  trading Putin Vladimir Potanin

Putin with Vladimir Potanin, the richest man in Russia that we know of.

Mikhail Klimentyev/TASS via Getty Images


The richest Russian people in the world are ultra-wealthy businessmen and investors with stakes in minerals, large banks, and even popular football clubs. 

One name, however, is conspicuously absent: President Vladimir Putin. 

There is no definitive answer on how much the Russian head of state is worth. In 2019, Quartz described Putin’s net worth, as based on financial disclosures released by the Kremlin, as “comically modest.” At a 2017 Senate Judiciary Hearing, outspoken Putin critic Bill Browder estimated the president “has accumulated $200 billion of ill-gotten gains” and described him as “one of the richest men in the world.”

Here are the 10 richest people in Russia that we know of. 

All net worths have been sourced from Bloomberg and industries have been sourced from Forbes.

Business financial make money capital trading 10. Mikhail Fridman

business  financial  make money  capital  trading Mikhail Fridman

Mikhail Fridman, Chairman of Supervisory Board of Alfa Group Consortium and Member of Supervisory Board of Х5 Retail Group, applauds during a ceremony as Х5 Retail Group starts trading on Moscow Exchange in the city of Moscow, Russia February 1, 2018.

REUTERS/Sergei Karpukhin


Net worth: $13.6 billion

Age: 56

Industry: Energy

Source of wealth: Self-made; oil, banking, telecom

Net worth year-over-year change: Down by $292 million.

Fridman cofounded Alfa Bank in 1991. It later grew into Alfra Group, one of Russia’s largest privately owned investment groups. The majority of his wealth comes from the company. 

In 2017 Fridman sued BuzzFeed over the publication of the Steele Dossier, parts of which said that the businessman bribed Putin in the 1990s. One of the most recent developments in the lengthy legal battle involved a London judge awarding Fridman $20,000 in compensation, while arguing that Christopher Steele’s firm didn’t vet the allegations in the dossiers thoroughly enough.

Business financial make money capital trading 9. Viktor Vekselberg

business  financial  make money  capital  trading Viktor Vekselberg



Peter Kovalev/TASS via Getty Images


Net worth: $14.8 billion

Age: 63

Industry: Energy

Source of wealth: Self-made; metals, energy

Net worth year-over-year change: Down by $6.39 million.

Vekselberg heads an investment company with a stake in the largest aluminum producer in Russia, owns several regional airports, and “controls more than a dozen closely held companies” per Bloomberg.  

The Ukrainian-born businessman is married with two kids. 

In April 2018, Vekselberg was one of seven ultrawealthy Russian tycoons who were met with sanctions by the Trump administration over the attack on Sergei Skripal and his daughter, Yulia.

The following month, he was stopped at a New York airport and questioned by federal agents working with special counsel Robert Mueller. He’s described as having a “favorable relationship” with President Putin. 

Business financial make money capital trading 8. Andrey Melnichenko

business  financial  make money  capital  trading Andrey Melnichenko



Mikhail Metzel/TASS via Getty Images


Net worth: $15.5 billion

Age: 48

Industry: Energy

Source of wealth: Self-made; EuroChem; coal, fertilizer

Net worth year-over-year change: Up by $74.5 million. 

Melnichenko’s $15 billion net worth comes largely from stakes in EuroChem, a fertilizer company, and SUEK, a coal company. 

He’s married to Serbian pop singer Aleksandra Nikolic. The couple has two kids. Melnichenko owns two yachts, one of which is worth $300 and resembles a submarine.

He also runs an eponymous foundation that “supports talented children in science and education.”

Business financial make money capital trading 7. Roman Abramovich

business  financial  make money  capital  trading Roman Abramovich




Photo by Reuters — Andrew Winning



Net worth: $15.8 billion

Age: 53

Industry: Diversified

Source of wealth: Self-made; steel, investments

Net worth year-over-year change: Down by $582 million.

Per Bloomberg, Abramovich made his substantial fortune through selling state-owned assets that he bought after the Soviet Union’s fall. 

Abramovich has been married three times and has seven kids.

He holds stakes in the Chelsea Football Club. He bought the club in 2003 for over $100 million. In January 2020, Forbes reported that Abramovich has continued to funnel hundreds of millions of dollars of investment into the sports club despite a contentious relationship with  Boris Johnson.

Business financial make money capital trading 5. Alexey Mordashov

business  financial  make money  capital  trading Alexey Mordashov



Iliya Pitalev/Host Photo Agency/Getty Images


Net worth: $18.2 billion

Age: 54

Industry: Metals and mining

Source of wealth: Self-made; Severstal; steel, investments

Net worth year-over-year change: Down by $1.71 billion. 

Mordashov holds a majority stake in Severstal, one of the largest steelmakers in Russia. He was the CEO of the company from 2006 to 2015.

He also owns shares in TUI AG, a German tourism company. 

Business financial make money capital trading 4. Alisher Usmanov

business  financial  make money  capital  trading Alisher Usmanov



Mikhail Svetlov/Getty Images


Net worth: $18.8 billion

Age: 67

Industry: Metals and mining

Source of wealth: Self-made; steel, telecom, and investments

Net worth year-over-year change: Up by $2.14 billion. 

Bloomberg lists cash as Usmanov’s biggest asset.

A man of many investments, Usmanov holds stakes in a number of wildly successful startups like Airbnb, Alibaba, and Spotify. He was also an early investor in Facebook.

He founded USM, his investments and holding company, in 2012. Through USM, he owns part of Metalloinvest, a Russian steel company, and all of Megafon, a Russian photo operator. 

He has donated north of $2 billion to charity.

In 2018, he sold his stake in Arsenal Football Club for around $700 million. 

Business financial make money capital trading 3. Leonid Mikhelson

business  financial  make money  capital  trading Leonid Mikhelson



Sasha Mordovets/Getty Images


Net worth: $19.5 billion

Age: 65

Industry: Energy

Source of wealth: Self-made; Novatek; gas, chemicals

Net worth year-over-year change: Down by $5.06 billion in the last year. 

Mikhelson holds a 25% stake in private Russian natural gas company Novatek — the source of the majority of his wealth. He’s the CEO of the company and the largest shareholder. Mikhelson founded the company in 1994.

In 2010, Mikhelson and his business partner, Gennady Timchenko, a billionaire who has close ties to President Putin, entered into negotiations to acquire Sibur, Russian’s largest petrochemical firm. Mikhelson owns close to 60% of the company. 

Business financial make money capital trading 2. Vladimir Lisin

business  financial  make money  capital  trading Vladimir Lisin



Sasha Mordovets/Getty Images


Net worth: $20 billion

Age: 64

Industry: Metals and mining

Source of wealth: Industrial; Novolipetsk Steel; steel, transport

Net worth year-over-year change: Down by $1.35 billion.

Lisin derives most of his wealth from his stake in Novolipetsk Steel, Russia’s largest steelmaker. The company also exports steel across the world. He’s been the chairman of the company since 1998. 

He’s married with three kids.

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In 2018, he was elected president of the International Shooting Sport Federation. 

Business financial make money capital trading 1. Vladimir Potanin

business  financial  make money  capital  trading FILE PHOTO: President and Chairman of the Board of MMC Norilsk Nickel Vladimir Potanin attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 6, 2019. REUTERS/Maxim Shemetov/File Photo

FILE PHOTO: St. Petersburg International Economic Forum

Reuters


Net worth: $26.1 billion

Age: 59

Industry: Metals and mining

Source of wealth: Self-made; Norilsk Nickel; metals

Net worth year-over-year change: Down by $1.91 billion. 

Most of Potanin’s wealth comes from his stake in Norilsk Nickel, Russia’s largest metal and mining company. 

His Bloomberg profile calls him “the mastermind behind [Russia’s] so-called loans-for-shares program,” where individuals and companies lent money to the country in return for stakes in its natural resource companies. 

In 1992, he joined forces with another Russian billionaire, Mikhail Prokhorov, to found Onexim Bank, one of the largest private banks in Russia. 

Potanin has been married twice and has seven kids.  

He’s a part of The Giving Pledge, the charity founded by Bill and Melinda Gates and Warren Buffett, and is ice hockey buddies with Russian President Vladimir Putin.

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