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Wealth

Russia’s Richest Lose $67 Billion of Wealth After a Year of War

Sweeping sanctions from the US, UK and European Union have cost the country’s tycoons more than just a portion of their vast fortunes.

Alexey Mordashov

Alexey Mordashov

Photographer: Andrey Rudakov/Bloomberg
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The 23 Russian billionaires who ranked among the world’s 500 wealthiest people had a combined net worth of $339 billion on Feb. 23, 2022, the day before Vladimir Putin’s forces invaded Ukraine.

A year later, with the conflict anything but resolved, Russia’s rich and powerful have lost $67 billion from their collective fortunes, a 20% drop that’s more than four times as large as the rest of those on the Bloomberg Billionaires Index.