Russian businessman Vladimir Lisin makes big bucks this year

Russian businessman Vladimir Lisin makes big bucks this year
Vladimir Lisin

The cumulative fortune of the world's 500 richest businessmen has grown by $1 trillion over the year; main NLMK owner Vladimir Lisin demonstrates the largest increase among Russians.

The wealthiest people in the world became $1 trillion richer in 2017, while last year their fortunes increased by only $237 billion, Bloomberg reports. The cumulative fortune of people who fell into the Bloomberg Billionaires Index increased by 23%.

According to the agency, Vladimir Lisin, the head of NLMK's board of directors, was the most affluent among Russians. His fortune increased by $4.89 billion to $18 billion for the year, as of December 27.

At that, Alexey Mordashov, the main owner of Severstal, became the most well-off Russian, the agency estimated his fortune at $19.5bn, with an increase of $2.53bn for the year.

This year, steel prices have grown and continue to grow due to China's environmental policy, which closed a number of metallurgical industries. This steel boom allowed metallurgists, including NLMK Vladimir Lisin and Severstal Alexey Mordashov, to grow rich, Maxim Khudalov, the director of ACRA corporate ratings, explained.

The agency notes that Russia's 27 richest people "left behind the economic problems that followed the annexation of Crimea in 2014", their combined fortunes increased by $29 billion, to $275 billion. This is more than their condition before the imposition of Western sanctions.

But most of all, the aggregate fortune of billionaires from China has grown, by $177 billion (65%), the agency writes. Nevertheless, the United States tops the Index, the agency states. 159 citizens of the United States increased their total fortune by $315 billion, to $2 trillion.

58 billionaires out of 500, represented in the Bloomberg list, became poorer in the outgoing year. According to the agency, they lost $46 billion. Among them - head of the telecommunications corporation Altice Patrick Drahi (-$4.1 billion, up to $6.3 billion) and Saudi Prince Al-Waleed (-$1.8 billion, to $17.8 billion).

Last week, Forbes presented the rating of the fastest-growing capitals owners of the year. The first place was taken by founder of Amazon Jeff Bezos, whose assets increased by $33.8 billion. In late October, his fortune exceeded the state of Bill Gates.

The Russian businessman of the year by Forbes is chairman of the Alfa Group supervisory board Mikhail Fridman.

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