Why haven't Russian oligarchs toppled Putin yet?

BillionairesThey are the richest Russian oligarchs

Russia's oligarchs are not immune either. According to Forbes, the wealth of the ten richest people in the country has fallen within one year by 27 billion to 152 billion US dollars. You're in good company with that. Worldwide, every second billionaire on the “Forbes” rich list was “poorer” on March 18, 2020 than a year earlier. According to the US magazine, the Russian super-rich were hit by the oil war with Saudi Arabia, the weak ruble and the first effects of the corona crisis. In addition, there is currently a natural disaster beyond the Arctic Circle. Nevertheless, wealth is more crisis-proof in Russia than in other parts of the world.

Russian billionaires are super rich

True, there is a new richest man in Russia. However, according to the “Forbes” analysis, none of the top ten runners had to vacate their place in the best list. That Vladimir Putin's empire ticks differently can already be seen from the comparison with the USA. According to Forbes, the United States currently has 614 billionaires. Russia has only 99 super-rich to show. In the US there is one billionaire for every 500,000 people. In Russia there is one billionaire for every 1.5 million people. Russian tycoons are so few and far between, but they are far more wealthy. While each US super-rich has an average of just under $ 5 billion, the Russians have almost $ 40 billion.

The richest men in America made their money from innovation and the purchasing power of the population. In Russia, natural resources and good relations with the Kremlin are the way to the top. And while the list of the German super-rich is dominated by heirs, all tycoons of the Russian Federation, founded in 1990, are self-made billionaires.

These are the ten richest men in Russia:

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# 10 Roman Abramovich

According to Forbes, Roman Abramovich is the tenth richest Russian with a fortune of 11.3 billion dollars. The 53-year-old oligarch was ranked 113th among the richest people worldwide. Like seven other members of the top 10, he lost at least $ 1 billion within a year. Abramowitsch owes his fortune to the shares in the steel giants Evraz and Nornickel, the world market leader in the mining of nickel and palladium. The oligarch doesn't always get his way, but he knows how to do it. When his UK investor visa was not renewed in 2018, the owner of Chelsea FC simply obtained Israeli citizenship.

@imago images / ITAR-TASS
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# 9 Andrei Melnichenko

Andrei Melnichenko was 48 years old on the cut-off date of the “Forbes” list. That made him the youngest of Russia's ten richest billionaires. He is the majority owner of the fertilizer manufacturer EuroChem and the largest Russian coal producer SUEK. Melnichenko began his career in the 1990s with a chain of exchange offices. According to the ranking, it currently weighs 12.5 billion dollars and ranks 95th worldwide.

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# 8 Mikhail Fridman

Fridman was born in 1964 in what is now Ukraine. Like Abramovich, he is an Israeli citizen and lives in Great Britain most of the time. Fridman is the founder of Alfa Bank, which, according to Forbes, is the largest non-state-controlled bank in the country. In 2013, he earned $ 5.1 billion from the sale of his shares in the TNK-BP oil company. Fridman ranks 86th in the global ranking with $ 13 billion.

@imago images / Russian Look
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# 7 Alisher Usmanov

Only two tycoons in this top 10 were able to increase their wealth against the general downward trend. One of them is Alisher Usmanov. According to Forbes, his fortune grew by around 800 million to 13.4 billion dollars within a year. The 66-year-old laid the foundation for his wealth in the times of the Soviet Union with the production of plastic bags, which were a rarity in the country at the time. Today Usmanov's fortune is based on the shares in the steel giant Metallinvest and various holdings, including Facebook and Xiaomi.

@imago images / ITAR-TASS
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# 6 Gennady Timchenko

According to Forbes, Gennady Timchenko is one of the most powerful men in Russia and has a close relationship with President Putin. However, he has lost almost a third of his wealth within a year and has slipped from third to sixth place at $ 14.4 billion. According to the report, the reason was a 50 percent drop in the shares of its gas company Novatek.