Billionaires with over US$100bn leave Russia

A total of 24 businessmen who were previously considered Russian are now listed as representatives of other countries in the new Forbes world ranking. Their combined wealth reaches US£110 billion. Source: The Moscow Times

Details: Thus, Alfa Group co-founder Alexei Kuzmichev (US£7.5 billion) is now listed as a Frenchman, former Alfa Bank president Petr Aven (US£4.7 billion) has become a Latvian billionaire, and Inteko founder Yelena Baturina (US£1.3 billion) is listed as a British entrepreneur.

Most of the "former" Russian billionaires now live in Switzerland: among them are Mikhail Prokhorov (US£10.7 billion), Yegor Kulkov (US£4.1 billion), and Vladimir and Nikolai Fartushnyaki. Other changes include: Andrey Melnichenko (US£17.4 billion) now represents the UAE, Alisher Usmanov (US£16.7 billion) - Uzbekistan, and Dmitry Rybolovlev (US£6.4 billion) - Monaco. This trend has intensified since the start of the full-scale invasion of Ukraine.

Due to sanctions, a Russian passport has become an obstacle to doing business in the West.

At least six billionaires, including Revolut co-founder Nikolai Storonsky and Freedom owner Timur Turlov, have officially renounced their Russian citizenship.

Background: The total wealth of Russian billionaires reached a record US£625.5 billion, exceeding the previous record of US£606.2 billion recorded in 2021, before the start of the full-scale invasion of Ukraine.

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