Russia’s oligarchs: more money, more problems
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. This week we analyze how Russia’s billionaires got richer during the war, but why they find themselves more vulnerable to the whims of the state than ever before and falling back in the global wealth race.
War helps Russian oligarchs grow richer, but they are slipping behind global peers
Forbes’ newly released ranking of billionaires shows that neither sanctions nor the economic slowdown have trimmed the number of super-rich Russians. But the war has nonetheless prevented them from fully indulging in the global trend towards massive capital accumulation — since 2022 they have expanded their wealth at a slower pace than their counterparts abroad.
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