Russian billionaires Vladimir Potanin, Alexey Mordashov, and Vagit Alekperov
From left to right: Russian billionaires Vladimir Potanin, Alexey Mordashov, and Vagit Alekperov

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:, CC BY 3.0, via Wikimedia Commons

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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.

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