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Siberian Becomes Billionaire as Russians Reach for Cheap Snacks

  • Denis Shtengelov’s fortune hits $1 billion with surge in sales
  • Russians switched from chocolate to biscuits under sanctions
Photographer: Alireza Etemadi

Denis Shtengelov knows Russians like their junk food, especially when the economy is in the dumps.

Setting out to give the country’s 147 million citizens a fix for every sweet and savory snack craving -- typically for less than $1 -- has turned him into Russia’s newest billionaire.