Putin’s Presidency Lifts Russia’s Richest Dozen by $29.5 Billion
- Nine out of 12 billionaires have seen their fortunes rise
- Country’s richest recoup losses incurred after Crimea annexed
Putin Wins a Fourth Term. All Downhill From Here?
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A group of Russia’s wealthiest people added $29.5 billion to their collective net worth during President Vladimir Putin’s latest presidential term, recouping steep losses following his annexation of Crimea.
Of the 12 Russians listed on the Bloomberg Billionaires Index in 2012, when Putin took office, nine have expanded their fortunes, led by metals tycoon Vladimir Potanin, who added $6.4 billion. Mikhail Prokhorov, his former partner in MMC Norilsk Nickel PJSC and a Putin rival during that year’s elections, lost $1.6 billion. The group’s six-year gains are short of the $33.2 billion that Amazon.com Inc. founder Jeff Bezos, the world’s richest person, added to his fortune just this year.