Sanctions anyone? Russia's richest keep getting richer
The wealth of energy magnates Leonid Mikhelson, Gennady Timchenko and Vagit Alekperov has reportedly grown the most among Russia’s top 10. The increase was reportedly boosted by soaring crude prices.
According to the ranking, Russia’s deep-pocketed are followed by US tycoons whose wealth grew 7.5 percent. The richest from the UK have shrugged off the uncertainty tied to Brexit with a 3.4 percent increase.
The data revealed that Chinese billionaires are the worst performers in this regard. The net worth of the 10 biggest moneybags from China has dropped more than 27 percent in 2018. The decline was reportedly due to the massive sell-off in technology and real estate.
'Sanction risk appears to explain a significant portion of the observed decline' - analysthttps://t.co/88qnfLZksm— RT (@RT_com) October 16, 2018
The remaining participants in the ratings have failed to add any gains to fortunes of the world's wealthiest. The combined net worth of French billionaires declined by 0.8 percent. Sweden's richest saw a 4.6 drop in their net worth, while overall fortunes of Swiss tycoons fell by 5.4 percent.
Fortunes of Indian billionaires decreased by six percent while the richest people from Canada saw a 8.3 percent drop in their net worth. Brazil's richest reportedly experienced a 12 percent decline, while the combined fortune of billionaires from Hong Kong fell by 13.4 percent. A the same time, the wealthiest Germans saw a drop of 14.8 percent.
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