Forbes names 10 richest families in Russia

Forbes names 10 richest families in Russia
Sait Gutseriev

Compared to last year, the aggregate wealth of the families has not changed.

Forbes has published the sixth ranking of Russia's most successful entrepreneurial dynasties. The authors note that it has barely changed due to stagnation in the Russian economy. The aggregate wealth of the rating members has increased by only $300 million, to become $25.3 billion.

The Gutseriev family retained its first place, going slightly down from $5.97 billion to $5.65 billion. Moreover, the fortune of Said Gutseriev, the son of Safmar Group founder Mikhail Gutseriev, has doubled since his father gave him his share in the financial assets of the group.

The Rotenbergs claimed the second place - only once has the family topped the rating; it was the time when it first got published in 2014. The family assets were then split among brothers Arkady and Boris, and their total worth was $ 5.55 billion. Later, when international sanctions against the brothers were introduced, part of the assets moved to the son of Arkady, Igor, and daughter, Lilia. Today, all four are worth $5.18 billion.

Three out of ten richest families mentioned in the list last year dropped out of the rating having failed to break the threshold of $1.16 billion. They are the brothers Zia and Magomed Magomedov, who are now in the Lefortovo pre-trial detention center. They lost almost all of their assets in a year. The worth of the Shamalov and Zubitsky families (Koks Group) are under $1 billion.

There are also newcomers in the ranking - the Yevtushenkov family (AFK Sistema), Linnik family (Miratorg) and the Mikhailovs (Cherkizovo Group). Last year, Vladimir Yevtushenkov gave his son Felix, a member of AFK Sistema’s board of directors, 5% of his shares, which are now valued at $90 million. The family is at No. 5 in the ranking with a combined fortune of $ 1.94 billion.

The farmers of Linniks (No. 7 with the total fortune of $1.6 billion), and Mikhailovs (No. 10 with $1.16 billion) are engaged in meat production. Their companies Miratorg and Cherkizovo are now growing at a faster pace due to import substitution policy. The capitalization of Cherkizovo for the year (from July 26, 2018 to July 26, 2019) has increased in dollars by 75%, to $1.3 billion, while the RTS index has only increased 17%.

 

The 2019 list of the top 10 wealthiest families looks like this:

  1. The Gutserievs - $5.65 billion;

  2. The Rotenbergs - $5.18 billion;

  3. The Shaimievs - $2.8 billion;

  4. The Gapontsevs - $2 billion;

  5. The Yevtushenkovs - $1.94 billion;

  6. The Rakhimkulovs - $1.89 billion;

  7. The Linniks - $1.6 billion;

  8. The Sarkisovs - $1.6 billion;

  9. The Bazhaevs - $1.51 billion;

  10. The Mikhailovs - $1.16 billion

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