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Title : Russia's Billionaires Are Getting Richer
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Russia's Billionaires Are Getting Richer

The superyacht Nord, reportedly owned by the sanctioned Russian oligarch Alexei Mordashov, is docked in the far eastern port of Vladivostok, Russia March 31, 2022. (photo credit: REUTERS/REUTERS PHOTOGRAPHER)  

Reuters: Russian billionaires see wealth rise to over half a trillion dollars, Forbes Russia reports 

MOSCOW (Reuters) - Russia's richest people added $152 billion to their wealth over the past year, buoyed by high prices for natural resources and rebounding from the huge loss of fortunes they experienced just after the Ukraine war began, Forbes Russia said. 

Russia has 110 official billionaires in the list, up 22 from last year, according to Forbes' Russian edition, which said their total wealth increased to $505 billion from $353 billion when the 2022 list was announced. 

The list would have been longer had not five billionaires - DST Global founder Yuri Milner, Revolut founder Nikolay Storonsky, Freedom Finance founder Timur Turlov, and JetBrains co-founders Sergei Dmitriev and Valentin Kipyatkov - renounced their Russian citizenship, Forbes said.  

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Update #1: Russian billionaires see wealth rise to three-quarters of a trillion dollars in past year (ABC News Australia)  

Update #2: Russia minted 22 new billionaires last year, even as the West slapped sanctions on the country to try to cripple it financially (Business Insider)  

WNU Editor: It is not only the Russian billionaires who have recovered from the imposition of Western sanctions. Through family, friends, and the business contacts that I know in Russia, I have been told bluntly that all businesses (small, medium, and large) have mostly transitioned away from the West and are now focused on the domestic market, and to do business with the growing Asian and Middle Eastern economies.

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