Russian billionaires lose $80 billion in wealth

  • Sanctions on oligarchs, along with the collapse of the Russian ruble, have swiftly brought the end of an era for an entire class of Russian elites.
  • Two megayachts have already been seized over the past day — Alisher Usmanov’s 500-foot Dilbar and Igor Sechin’s 280-foot Amore Velo.

    Russia’s top billionaires have lost more than $80 billion in wealth in recent weeks, with more to come as sanctions and seizures start to bite.

    The economic turmoil surrounding President Vladimir Putin’s invasion of Ukraine has erased about a third of the wealth of Russia’s 20 richest billionaires in recent weeks, according to the Bloomberg Billionaires Index. The impact of sanctions on oligarchs, along with the collapse of the Russian ruble and economy and global outrage over Ukraine, have swiftly brought the end of an era for an entire class of Russian elites around the world.

 

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