February 16, 2009

Wealthy in Russia

A 2009 list of the richest Russians shows that individual wealth has evaporated quickly, with their net worth falling by billions compared to 2008.

The wealthiest Russian on Finans' magazine list is Mikhail Prokhorov, the founder of Snob magazine. But, much of his ranking had as much to do with his losing less money from 2008 than some of his colleagues. He lost $7.4 billion last year, The Times of London reported.

Still, his $14.1 billion net worth would have kept him off the top 10 a year ago, The Times said.

Second on the list is Chelsea owner Roman Abramovich, who is worth $13.9 billion, about $9 billion less than he was worth in 2007. Eighth on the list is Oleg Deripaska, who is worth $4.9 billion.

Deripaska, however, was first on the list for two years and is first on the list of losers this year. The aluminum-producing oligarch was worth $40 billion not long ago, The Times said.