The 10 Richest People in Russia

In the realm of colossal wealth, Russia boasts a cadre of billionaires whose fortunes are intricately tied to industries ranging from minerals to major banks and even iconic football clubs. Notably absent from the list is President Vladimir Putin, shrouded in mystery when it comes to his net worth.

The top echelon of Russia’s wealthiest individuals, comprising ten billionaires, commands over a third of the nation’s staggering gains. According to the Forbes World’s Billionaires list for 2023, these ten moguls collectively boast a net worth exceeding $223 billion, a substantial leap from $152 billion in the preceding year.

Headlining this league is Andrey Melnichenko, whose fortunes soared with shares in publicly traded SUEK and EuroChem, marking a financial ascent amidst Russia’s recovery from the tumultuous impact of the early 2020 Covid meltdown.

The 10 Richest People in Russia

Here is a top 10 list of Russia’s wealthiest individuals, comprising ten billionaires:

S/N	NAMES	NET WORTH
1.	Andrey Melnichenko	$25.3 billion
2.	Vladimir Lisin	$24.8 billion
3.	Leonid Mikhelson	$24.1 billion
4.	Vagit Alekperov	$23.7 billion
5.	Vladimir Potanin	$22.3 billion
6.	Alexey Mordashov	$21.0 billion
7.	Gennady Timchenko	$20.8 billion
8.	Alisher Usmanov	$14.5 billion
9.	Mikhail Fridman	$12.8 billion
10.	Mikhail Prokhorov	$11.0 billion

1) Andrey Melnichenko ($25.3 billion)

Andrey Melnichenko, with a staggering wealth of $25.3 billion, stands at the top as the wealthiest individual in Russia. His influence spans multiple industries, including energy, fertilizers, and banking. Born in Gomel, Belarus, Melnichenko’s journey is marked by his diverse investments and strategic holdings in key sectors. His success is grounded in his ability to identify lucrative opportunities and diversify his portfolio.

His ownership stakes in companies like SUEK (Siberian Coal Energy Company) and EuroChem have contributed significantly to his immense wealth. Andrey Melnichenko’s story serves as a testament to the impact of strategic diversification and visionary investments, showcasing how a combination of industry expertise and bold decision-making can lead to extraordinary financial success in the ever-evolving landscape of business and finance in Russia.

2) Vladimir Lisin ($24.8 billion)

Vladimir Lisin, with a considerable wealth of $24.8 billion, is a prominent figure in Russia’s industrial and steel sectors. As the majority shareholder of NLMK (Novolipetsk Steel), one of the largest steel producers in the country, Lisin’s journey is characterized by his significant contributions to the metallurgical industry. Born in Ivanovo, Russia, he has played a crucial role in the modernization and global expansion of NLMK.

Lisin’s success is rooted in his focus on efficiency and innovation in the steel production process. Under his leadership, NLMK has become a major player in the global steel market. Vladimir Lisin’s story illustrates the impact of strategic decision-making and technological advancements in the industrial sector, serving as a source of inspiration for those looking to make their mark in the dynamic world of manufacturing and steel production.

3) Leonid Mikhelson ($24.1 billion)

Leonid Mikhelson, with a substantial wealth of $24.1 billion, is a notable figure in Russia’s energy sector. As the Chairman and major shareholder of Novatek, a leading natural gas producer, Mikhelson’s journey is marked by his significant contributions to the country’s energy landscape. Born in Kaspiysk, Russia, he has played a pivotal role in transforming Novatek into a key player in the global energy market.

Mikhelson’s success is grounded in his foresight and strategic decision-making in the energy industry. Under his leadership, Novatek has not only expanded its domestic presence but has also become a significant exporter of liquefied natural gas (LNG) to international markets. Leonid Mikhelson’s story serves as an inspiration for those aspiring to make an impact in the energy sector, highlighting the potential for success through a combination of industry expertise and forward-thinking leadership.

4) Vagit Alekperov ($23.7 billion)

Vagit Alekperov, with a wealth of $23.7 billion, is a key figure in Russia’s energy and oil industry. As the president of Lukoil, one of the largest energy companies in the world, Alekperov’s journey is marked by his strategic leadership in the energy sector. Born in Azerbaijan, he has played a crucial role in the development of Lukoil into a global energy giant.

Alekperov’s success is intertwined with his ability to navigate the complexities of the energy market and his focus on technological innovation. Under his guidance, Lukoil has expanded its operations globally, contributing significantly to Russia’s standing in the international energy arena. Vagit Alekperov’s story illustrates the pivotal role of visionary leadership and strategic decision-making in the success of major players in the energy industry.

5) Vladimir Potanin ($22.3 billion)

Vladimir Potanin, with a substantial wealth of $22.3 billion, is a prominent figure in Russia’s business and natural resource sectors. As the owner of Interros, a major investment company, Potanin’s journey is characterized by his diverse interests, including mining, metals, and finance. Born in Moscow, he has played a significant role in shaping the landscape of Russia’s economic development.

Potanin’s influence extends beyond business; he is recognized for his philanthropic efforts, contributing to various cultural and educational initiatives. His story is a testament to the impact of strategic investments and a commitment to social responsibility. Vladimir Potanin stands as an example of how entrepreneurial success can be coupled with a dedication to making positive contributions to society, inspiring a new generation of business leaders in Russia.

6) Alexey Mordashov ($21 billion)

Alexey Mordashov, with a substantial wealth of $21 billion, is a notable figure in Russia’s industrial and metallurgical sectors. As the majority shareholder of Severstal, one of the country’s leading steel producers, Mordashov’s journey is marked by his significant contributions to the metals industry. Born in Cherepovets, Russia, he started his career in the steel sector and steadily climbed the ranks to become one of the wealthiest individuals in the country.

Mordashov’s success is rooted in his ability to adapt to changing market conditions and his focus on operational efficiency. Under his leadership, Severstal has become a global player in the steel industry. Alexey Mordashov’s story serves as an inspiration for aspiring entrepreneurs, highlighting the potential for success through dedication to a specific industry and strategic decision-making.

7) Gennady Timchenko ($20.8 billion)

Gennady Timchenko, boasting a wealth of $20.8 billion, is a prominent figure in Russia’s energy and commodities sectors. As the co-founder of the Gunvor Group, one of the world’s largest commodity trading companies, Timchenko’s journey reflects the dynamic nature of global trade. Born in the Soviet Union, he has become a key player in shaping Russia’s position in the international energy market.

Timchenko’s success is intertwined with his ability to navigate the complexities of the energy sector and global trade dynamics. Beyond business, he is involved in philanthropic activities, contributing to various charitable causes. Gennady Timchenko’s story highlights the intersection of entrepreneurship, global trade, and social responsibility, providing a glimpse into the diverse paths that lead to immense wealth in Russia’s ever-evolving economic landscape.

8) Alisher Usmanov ($14.5 billion)

Alisher Usmanov, with a substantial wealth of $14.5 billion, has made significant contributions to Russia’s business and industrial sectors. Born in Uzbekistan, he has played a pivotal role in the metal and mining industries, becoming one of the country’s wealthiest individuals. Usmanov’s journey to success is a tale of perseverance and strategic investments, with his interests ranging from mining to technology.

Usmanov’s influence extends beyond traditional industries; he is a notable investor in tech companies, including early investments in Facebook and Airbnb. His story serves as a testament to the evolving nature of wealth creation in the modern era, where diversification and adaptability are crucial. Alisher Usmanov’s entrepreneurial spirit showcases the potential for success through a combination of traditional industries and strategic investments in emerging sectors.

9) Mikhail Fridman ($12.8 billion)

Mikhail Fridman, with a substantial wealth of $12.8 billion, is a key player in Russia’s business landscape. Co-founder of Alfa Group, one of the largest privately-owned investment groups in the country, Fridman’s journey is characterized by strategic investments in various sectors, including finance, telecommunications, and oil. Born in Ukraine, he has become a prominent figure in shaping Russia’s economic landscape.

Fridman’s success is not only measured in financial terms but also in his philanthropic efforts. His contributions to charitable causes and the establishment of the “Genesis Prize” showcase a commitment to social responsibility. Mikhail Fridman’s story illustrates the impact of strategic diversification and a dedication to making a positive difference in both business and society, serving as an inspiration for budding entrepreneurs.

10) Mikhail Prokhorov ($11 billion)

Mikhail Prokhorov, with a wealth of $11 billion, is a notable figure in Russia’s business landscape. Known for his ventures in finance, metals, and sports, Prokhorov’s journey to wealth is marked by versatility and strategic investments. Born in Moscow, he gained prominence as the owner of Norilsk Nickel, one of the world’s largest nickel and palladium producers.

Prokhorov’s foray into the sports world includes ownership of the Brooklyn Nets basketball team, showcasing his diverse interests. His story is a testament to the potential for success through a combination of business acumen and a willingness to explore opportunities beyond traditional industries. Mikhail Prokhorov serves as an inspiration for those aiming to carve a path to success through a multidimensional approach to entrepreneurship.

Conclusion

In the grand tapestry of Russian wealth, these ten billionaires, each a titan in their respective fields, weave a narrative of opulence and economic prowess. From commanding shares in crucial industries to witnessing substantial growth, they stand as pillars of Russia’s financial landscape.

Their stories mirror the complexities and successes inherent in the nation’s pursuit of prosperity. As they navigate the intricate web of investments, mineral holdings, and diverse enterprises, these billionaires underscore the dynamic nature of Russia’s wealth distribution.

Their influence spans industries and sectors, impacting the nation’s economic trajectory. While uncertainties persist, one thing remains clear – the richest in Russia wield significant power and contribute, in various ways, to the nation’s economic vibrancy.

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