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.

 

Comments

Post a Comment

Popular posts from this blog

Reports: Ukraine bans all male citizens ages 18 to 60 from leaving the country

The  Ukraine S tate Border Guard Service has announced that men ages 18 to 60 were prohibited from leaving the country, according to reports . Thursday's action came after Ukraine President Volodymyr Zelenskyy 's declaration of  martial law across the country after Russia invaded Ukraine and attacked major cities, including the capital, Kyiv.  "In particular, it is forbidden for men aged 18-60, Ukraine citizens, to leave the borders of Ukraine," a statement from the service said, according to CNN . "This regulation will remain in effect for the period of the legal regime of martial law. We ask the citizens to take this information into consideration." Under martial law, military officials  are in charge of applying law and not civilian leaders or police. It is usually invoked in times of war when  the rule of law has broken down. It's really an alien concept': Ukraine's president declared martial law after Russia's attack. But what is i...
Read more

Michael Jordan’s “Broken Foot Game” Air Jordan 1s Sell For $422,130

Image
A pair of Michael Jordan’s game-worn Air Jordans from an unfortunate time in his career have a new owner and the price tag to acquire them was steep. Player issued Air Jordan 1s believed to have been worn by Jordan during a game against the Golden State Warriors on Oct. 29, 1985 recently sold for $422,130 through auction house Lelands . The date of that game is significant because it’s when Jordan suffered a fractured bone in his left foot, causing him to miss six months of action and derailing his sophomore season. Lelands obtained the sneakers from a consignor whose father was gifted the game-worn sneakers personally from Jordan at the time. The pair comes in Jordan’s famously mismatched size 13 (left) and 13 ½ (right), and features “850102-TYPS” stamping along the interior linings. Because of the shoe’s production midway through the 1984-85 season, there’s speculation that Jordan may have also worn these at some point in his rookie campaign, but that has...
Read more