Russia’s richest oligarchs expanded their wealth in 2023, despite heavy sanctions on their homeland related to its invasion of Ukraine, according to figures from the Bloomberg Billionaire Index.
The total fortunes of Russian nationals who made the exclusive list ballooned by $38.6 billion since January 1, according to the data.
Economic sanctions following Moscow’s incursion into Ukraine have failed to hobble their fortunes — and in some cases may have helped fatten them further.
All told, six Russians are among the world’s top 100 billionaires, according to the Bloomberg roster.
A total of 25 Russians are currently among the 500 richest people around the globe, most of them involved in mining, oil and gas or dealing in precious metals.
Of those, only three saw their accounts decrease this year.
Their ranks are led by Vladimir Potanin at number 47, followed by Leonid Mikhelson at 52, Vagit Alekperov at 62, Vladimir Lisin at 72, Alisher Usmanov at 82 and Alexei Mordashov at 88.
Nickel baron Potanin’s wealth jumped by $1.9 billion to $30.5 billion year to date, according to the outlet.
But the tycoon’s coffers could soon take a hit as a result of an ongoing divorce war with his estranged wife Natalia Potanin, which is currently unfolding in England.
Natural gas magnate Mikhelson saw his $27.2 billion fortune jump by $2.5 billion this year thus far, the numbers show.
Alekperov, founder of oil and gas juggernaut Lukoil, increased his wealth by $8.8 billion to $24.2 billion this year.
However, all three men had faced various sanctions from western nations after Russian President Vladimir Putin launched the invasion of Ukraine.
According to reports, wealthy businessmen close to the Russian strongman have profited from the conflict through their support of ramped up weapons production.
Other Russian notables on the list — many of whom have long spread their money and assets around the world in case of any domestic troubles — also saw their treasure chests brim.
Roman Abramovich, the former owner of British football club Chelsea, upped his total by $89 million for a total of $7.9 billion.
Former Brooklyn Nets owner Mikhail Prokhorov added $1.42 billion to his holdings this year, topping off at $11.8 billion.
Although they may be worth billions, the life expectancy of Russian businessmen who fall out of favor with Putin and his cronies can be cut dramtically short.
At least a dozen Russian businessmen died in mysterious circumstances in 2022 alone, according to NPR, with at least five apparently taking their own lives with little prior warning and a number of clumsy ‘accidents’ happening to others, as reported by CNN.