Despite the numerous sanctions imposed by the European Union and the United States since February 2022, Russian oligarchs continue to increase their wealth. According to the Bloomberg Billionaires Index (BBI), processed by the Russian news agency RIA Novosti, the total wealth of Russia’s richest businessmen grew by $26.245 billion in the first seven months of this year.

The biggest increase was seen by the former beneficiary of EuroChem and the Siberian Coal Energy Company (SUEK), Andrey Melnichenko (who left the list of co-owners on March 9, 2022, due to EU sanctions), who – ranking sixth in the evaluation – saw his wealth rise by $6.37 billion, reaching $25.2 billion.

The BBI index is calculated based on the value of the shares of the companies in which these tycoons are involved. Overall, the BBI ranking includes 500 of the world’s richest people, including 26 Russian citizens, whose total wealth as of August 1 amounts to $361.76 billion.

The top three Russians have not changed from the previous month. The wealthiest businessman remains one of the main owners of Norilsk Nickel, Vladimir Potanin, whose wealth has increased by $498 million since the beginning of the year, reaching $31.6 billion. The second place is again held by the co-owner of Lukoil, Vagit Alekperov (increase in wealth by $3.24 billion, to $27.9 billion), and the third place is once again occupied by the beneficiary of the copper company NLMK, Vladimir Lisin (increase by $3.05 billion, to $27 billion).

Simultaneously, a new businessman appeared in the ranking – occupying the 17th place – the founder of Telegram, Pavel Durov, whose wealth is estimated at $9.15 billion.

The main beneficiary of the steel company Severstal, Alexei Mordashov, rose to the fourth position from fifth, with his wealth increasing by $5.89 billion to $26.8 billion. Conversely, the co-owner of the natural gas producer Novatek, Leonid Mikhelson, fell to fifth from fourth, with his capital decreasing by $1.79 billion to $25.7 billion.

Following that, Mikhail Prokhorov of the investment group Onexim Group climbed to the seventh position from eighth: his wealth increased by $1.78 billion, reaching $17.5 billion, while at the same time, Alisher Usmanov of Metalloinvest and Megafon fell to the eighth position from seventh: his wealth decreased the most since the beginning of the year – by $4.86 billion, to $16.2 billion.

Remaining in ninth place is the founder of Alfa Group, Mikhail Fridman, whose wealth increased by $1.45 billion, reaching $13.8 billion. In tenth place remains businessman Dmitry Rybolovlev (wealth increase by $732 million, to $12.3 billion).