Russia’s Ultra-Rich Count Cost of $83 Billion Wealth Wipeout
- Global sanctions damage Russia’s economy and financial markets
- EU freezes assets, bans travel for the country’s tycoons
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Russia’s billionaires are starting to feel the heat.
The broadside to their fortunes has been swift since President Vladimir Putin’s decision to invade Ukraine. Russia’s ultra-rich who rank among the world’s 500 wealthiest people have now lost a combined $83 billion this year, according to the Bloomberg Billionaires Index.