The fortunes of Russia’s wealthiest businessmen have experienced a significant boost, with their combined net worth rising by over $24.5 billion in the first half of 2025. This substantial increase is according to the latest data from the Bloomberg Billionaires Index, which tracks the daily fortunes of the world’s 500 richest individuals. The index updates based on fluctuations in the share prices of companies tied to these billionaires, providing a real-time snapshot of their wealth.
At the forefront of this wealth surge is Vladimir Potanin, who owns a significant stake in the mining giant Norilsk Nickel. He has once again led the ranking as the richest Russian businessman on the list, with his fortune increasing by $3.85 billion to a total of $31.7 billion since the start of the year. This notable gain underscores the resilience and profitability of the mining sector, particularly for companies like Norilsk Nickel.
Following closely behind Potanin is Vagit Alekperov, the founder of Russia’s second-largest oil company Lukoil. Alekperov has reportedly earned nearly $1.5 billion, bringing his net worth to $26.8 billion. This significant increase in wealth highlights the continued importance and profitability of the energy sector, despite global efforts to diversify away from fossil fuels.
Alexey Mordashov, the chairman of steel giant Severstal, ranks as the third-richest Russian businessman. He has earned $1.4 billion since the beginning of the year, increasing his fortune to $24.7 billion. This growth in wealth reflects the strong demand for steel and the strategic positioning of Severstal in the global market.
Vladimir Lisin, the majority shareholder of Russia’s NLMK steel company, took fourth place on the index. However, unlike his peers, Lisin was the biggest Russian loser during the period, with his fortune falling by $1.72 billion to $24.1 billion. This decrease highlights the challenges faced by certain sectors within the economy and the impact of market fluctuations on individual wealth.
Meanwhile, Leonid Mikhelson, co-owner of Russia’s second-largest natural gas producer Novatek, also ranked among the top, with a total net worth of $23.7 billion. His wealth has grown by $1.31 billion, reflecting the critical role of natural gas in the global energy mix and the strategic importance of Novatek in this sector.
A notable mention is Alisher Usmanov, a major shareholder in iron ore producer Metalloinvest and co-owner of telecom operator MegaFon. His wealth rose by $3.17 billion since the start of the year, reaching $16.4 billion as of July 1. This significant increase in Usmanov’s net worth underscores the diversity of his business interests and the growth potential of both the telecom and mining sectors.
On the other hand, Russia’s wealthiest woman, Tatiana Kim, the founder and chief executive of the country’s largest e-commerce platform Wildberries, experienced a loss of $345 million. She ranked 20th among Russian billionaires with a net worth of $7.03 billion. This slight decrease in wealth may reflect the competitive nature of the e-commerce market and the challenges of maintaining growth in a rapidly evolving sector.
In conclusion, the substantial increase in the combined net worth of Russia’s wealthiest businessmen in the first half of 2025 is a testament to the country’s economic resilience and the strategic positioning of its leading companies in the global market. As the global economy continues to evolve, it will be interesting to see how these billionaires adapt and grow their wealth in response to emerging trends and challenges.
