In less than 24 hours after Russia invading Ukraine, the richest Russian billionaires lost a significant amount of wealth. According to the Bloomberg Billionaires Index, the collective loss amounts to $39 billion.
More than 20 of the wealthiest Russian billionaires lost $39 billion in only one day. The extensive list includes business oligarch Vladimir Potanin, the richest known man in the country.
Thursday, February 24th, Russia’s stock markets experienced the 5th worst crash in equity market history. The MOEX Index took a 33% plunge, therefore eliminating $189 billion from the wealth of Russian billionaires.
Wealth loss for top Russian billionaires
Russia invading Ukraine could result in continuous losses for the country’s wealthiest oligarchs as international sanctions escalate. Both the US and UK announced sanctions against individuals and banks in Russia.
As of today, these are some the most affected billionaires and their one-day decrease in net worth:
- Vagit Alekperov — $13B net worth, -$6.2B single-day loss;
- Leonid Mikhelson — $22.2B net worth, -$3.8B single-day loss;
- Vladimir Lisin — $22.4B net worth, -$3.9B single-day loss;
- Alexey Mordashov — $23B net worth, -$4.2B single-day loss;
- Vladimir Potanin — $26.1B net worth, -$3B single-day loss.
What is the key takeaway for people in business?
Ultimately, this is why protecting your money in illiquid cash flowing assets is so important.
By having assets like real estate, you’re not prone to economic disasters like stock market plunges. In addition, unstable political climates do not affect these types of investments.
Featured images source: Kremlin.ru, CC BY 3.0, via Wikimedia Commons
Disclosure: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.
We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.
I blog quite often and I truly appreciate your content.
This article has truly peaked my interest. I’m going to bookmark your site and keep
checking for new information about once per week.
I subscribed to your Feed too.
Hey there are using WordPress for your blog platform?
I’m new to the blog world but I’m trying to get started and set up my own.
Do you require any html coding knowledge to make your own blog?
Any help would be really appreciated!
Just wish to say your article is as amazing. The clearness
in your post is simply excellent and i could assume you are an expert on this subject.
Fine with your permission allow me to grab your RSS feed
to keep up to date with forthcoming post. Thanks a
million and please keep up the enjoyable work.
I ցot this ᴡeb ⲣage from my friend who shared witһ mme concerning this ѕite and now tis time I
am viѕiting this web paɡe and readinhg veгy informative content at this place.
Hi there, this weekend is good for me, because this point in time
i am reading this wonderful educational paragraph here
at my residence.
I’m not sure where you are getting your information, however good topic.
I needs to spend a while learning more or
understanding more. Thank you for wonderful info I used to be searching
for this info for my mission.
Terrific work! This is the kind of information that
are meant to be shared around the internet. Shame on the search engines for not positioning this post higher!
Come on over and consult with my site . Thanks =)
Your mode of explaining everything in this
article is truly nice, all be able to without difficulty
be aware of it, Thanks a lot.
What’s up everyone, it’s my first go to see at this web page, and post is genuinely fruitful for me, keep up posting such content.
Helpful info. Fortunate me I found your web site by chance, and I’m stunned why this coincidence didn’t took place in advance!
I bookmarked it.
What’s up mates, its wonderful piece of writing regardingteachingand entirely explained, keep it up all the time.
[…] Russian invasion of Ukraine; […]
Enjoyed every bit of your blog article. Really Cool.
Great web site. Plenty of useful information here. I’m sending it to several friends ans also sharing in delicious. And naturally, thanks for your sweat!
I besides conceive so , perfectly composed post! .