Russia's Wealthiest Are Quietly Taking a Bath Amid Ukraine Standoff
Russia's wealthiest are among the richest men in the world.
March 14, 2014— -- intro:As the region of Crimea votes this weekend whether to secede from Ukraine, Russia's benchmark Micex index has dropped more than 10 percent.
Russia's 10 wealthiest individuals have lost an estimated $6.6 billion between their stock holdings, reports research firm Wealth-X, which collects information on ultra-high net worth individuals.
The country's richest man, Alisher Usmanov, who has holdings in telecommunications, mining and other businesses, lost an estimated $1.7 billion in a week, Wealth-X estimates.
But the richest have been largely silent since the crisis began. "Many inside Russia’s large corporations are no doubt supportive of Mr. Putin’s moves in Crimea, which are widely seen here as correcting a historical error made by the Soviet leader Nikita S. Khrushchev, when he transferred Crimea to the Ukrainian Soviet Socialist Republic," writes the New York Times. "If corporate leaders are complaining, they are doing it quietly."
Here's how Usmanov and nine other of Russia's wealthiest population fared, according to Wealth-X.
quicklist:title: Alisher Usmanovcategory: Net worth: $18.3 billion media: 22913865text: Change since March 7: $-1.7 billion
Uzbek-born Usmanov reportedly invested around $97 million for the infrastructure and facilities of the Olympic games in Sochi, Russia.
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quicklist:title: Viktor Vekselbergcategory: Net worth: $17.2 billionmedia: 22914375text:Change since March 7: none
With business interests in energy and metals, Viktor Vekselberg, 56, is pegged as Forbes' 51st wealthiest person in the world.
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quicklist:title: Mikhail Fridmancategory: Net worth: $15.2 billion media: 22914467text:Change since March 7: $-0.8 billion
Mikhail Fridman, who is a chairman of Russia's Alfa Group, is Forbes' 47th richest person in the world. He is estimated to be worth $17.6 billion by Forbes, while Wealth-X estimates his net worth at $15.2 billion.
quicklist:title: Gennady Timchenkocategory: Net worth: $15.1 billion media: 22914004text: Change since March 7: $-0.4 billion
Gennady Timchenko is pegged as Forbes' 61st wealthiest person in the world as co-owner of the Gunvor Group, an energy trading company, and businessman of many pursuits.
quicklist:title: Andrey Melnichenkocategory: Net worth: $13.5 billionmedia: 22913954text:Change since March 7: none
Andrey Melnichenko, 42, is listed as Forbes' 97th richest person in the world, with interests in business such as energy and fertilizer.
quicklist:title: Vladimir Lisincategory: Net worth: $12.6 billion media: 22914565text:Change since March 7: none
Vladimir Lisin, 57, made his wealth in steel and railways, Forbes notes.
quicklist:title: Leonid Mikhelsoncategory: Net worth: $11 billion media: 22914200text:Change since March 7: $-1 billion
Number 57 on Forbes' list, Leonid Mikhelson, 58, made his fortune in gas and chemicals, Forbes notes.
quicklist:title: German Khancategory: Net worth: $11 billionmedia: 22913673text:Change since March 7: $-0.1 billion
Along with Mikhail Fridman, German Khan, 52, is a chairman of Russia's Alfa Group and comes in at number 100 on Forbes' list of richest people in the world.
quicklist:title: Vladimir Potanincategory: Net worth: $10.4 billion media: 22914852text:Change since March 7: $-2 billion
Potanin, president of Interros, one of Russia's largest private investment companies, may have recently lost the most of the individuals in this list, according to Wealth-X.
quicklist:title: Alexey Mordashovcategory: Net worth: $9.4 billion media: 22913769text: Change since March 7: $-0.6 billion
Alexey Mordashov, 48, is Forbes' 111th richest person in the world, noting that he had about $10.5 billion as of March 2014, with interests in steel and telecommunications.
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