In recent years, Russia has seen some of the world’s wealthiest individuals emerge, with fortunes amassed in industries like oil, natural gas, steel, and tech. These billionaires have taken advantage of Russia’s rich natural resources and strategic market opportunities, both at home and abroad.

This list gives an overview of the ten richest Russian billionaires, showcasing their main sources of wealth and their significant roles in their industries. These individuals not only dominate the Russian economic scene but also wield considerable influence globally. Let’s take a closer look at these financial giants and explore the roots of their immense wealth.

Petr Aven

Petr Aven ($18.654 billion; capital — German oil and gas company Wintershall Dea, Turkey’s largest telecom operator Turkcell, VEON telecoms holding, BakeMark, one of the leaders in the American baking industry, British health food chain Holland & Barrett, US pharmaceutical company Parexel) – Petr Aven’s wealth spans various sectors, including energy (Wintershall Dea), telecommunications (Turkcell, VEON), food industry (BakeMark, Holland & Barrett), and pharmaceuticals (Parexel), highlighting his diverse investment portfolio.

Alisher Usmanov

Alisher Usmanov ($13.4 billion; capital — USM (Metalloinvest, Udokan Copper, Megafon), Kommersant Publishing House) – Alisher Usmanov has a diverse portfolio, with interests in Metalloinvest, a top iron ore producer, Udokan Copper, telecom giant Megafon, and the influential Kommersant Publishing House.

Pavel Durov

Pavel Durov ($15.5 billion; Telegram) – Pavel Durov is the brains behind Telegram, a hugely popular messaging app known for its strong focus on privacy and security, used by millions worldwide.

Vagit Alekperov

Vagit Alekperov ($28.6 billion; former president of Lukoil) – Vagit Alekperov is a major figure in Russian business, having led Lukoil, one of the world’s largest oil companies, for many years.

Leonid Mikhelson

Leonid Mikhelson ($27.4 billion; chairman of the board of PAO Novatek) – Leonid Mikhelson is a key player in the natural gas industry, steering Novatek to become a leading force in the global LNG market.

Vladimir Lisin ($26.6 billion; capital — NLMK, First Port Company) – As the main shareholder of NLMK, a major Russian steel company, Vladimir Lisin also has significant investments in transportation and logistics through the First Port Company.

Alexey Mordashov

Alexey Mordashov ($25.5 billion; capital — Severstal, Nordgold, TUI, Lenta, Power Machines) – Alexey Mordashov has spread his wealth across multiple sectors, including steel production with Severstal, gold mining with Nordgold, tourism with TUI, retail with Lenta, and engineering with Power Machines.

Vladimir Potanin

Vladimir Potanin ($23.7 billion; capital — Norilsk Nickel, Rosbank, TCS Group) – Vladimir Potanin’s wealth mainly comes from his stake in Norilsk Nickel, the world’s largest producer of nickel and palladium. He also has significant interests in financial institutions like Rosbank and TCS Group.

Gennady Timchenko

Gennady Timchenko ($23.4 billion; capital — Novatek, Sibur, Stroytransgaz, Transoil) – Gennady Timchenko is a big name in Russia’s energy sector, with investments in natural gas (Novatek), petrochemicals (Sibur), construction (Stroytransgaz), and transportation (Transoil).

Andrey Melnichenko

Andrey Melnichenko ($21.1 billion; capital — shares in Eurochem and coal company SUEK) – Andrey Melnichenko has built his fortune through stakes in Eurochem, a leading fertilizer producer, and SUEK, one of Russia’s largest coal companies.

Conclusion

The wealth of these Russian billionaires showcases not only their strategic leveraging of natural resources and key industries but also their ability to diversify into various sectors globally. From energy and metals to telecommunications and technology, these business moguls have built substantial empires with significant global influence. Their massive fortunes and business savvy highlight the economic opportunities available in Russia and beyond. These individuals continue to shape the economic landscape, setting benchmarks in business excellence and innovation.