April 17, 2009

Recession wearing on Russia’s richest

The global financial crisis has cost the 100 richest Russians billions of dollars in declining assets in the past year, Forbes magazine said Friday.

A year ago, the total wealth of the 100 richest people in the country was tagged at $552 billion, RIA Novosti reported. Currently, their value is pegged at $142 billion.

Oleg Deripaska, the head of holding company Basic Element, led the list of Russians whose value has plummeted with a loss of $25.1 billion.

Deripaska, worth $28.6 billion a year ago, is now worth $3.5 billion. During the year, the number of Russian billionaires fell from 110 to 32.

The wealthiest Russian is now Mikhail Prokhorov. The owner of Oneksim Group is now worth $9.5 billion, the report said.