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Latest Articles - Luxury

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Russian Oligarchs

Sunday, 17 May 2009

russian oligarchsRussian oligarchs differ from one another, especially the geography matters. Russian oligarchs are not as conspicuous as the West tycoons and only two events can act a triggering point to reveal their existence; it is scandal and investigation, kind of scandal but with longer consequences. The public may not know about them even if they are absolute billionaires. Or they are known to open public as some figures in the top something. However should any of these people is involved in any scandal, they are in the center of glory and attention. And the scandal character will be popular and recognized both in the homeland and abroad.

The most flamboyant magnet among the Russian tycoons is Roman Abramovich. There is always news about him like «the governor of Chukchi Peninsula purchased Chelsea Football Club» or «Roman is going to buy Schumacher» or «Abramovich spent a fortune to celebrate birth date of his daughter. There are millions sources ready to provide information on his biography or the number of private cars. Though Abramovich biography and private life is highly circulated in mass media he is not the on the top line of the wealthiest people of Russia. The leading position goes to Oleg Deripaska valued at $28,6 billion. On the top of it, Deripaska is in the top of the wealthiest people of the world taking 9th place though in 2007 Deripaska took the second in the top of 100 wealthiest people of Russia worth $16,8 billions then. And he grabbed the crown from Abramovich who first was valued at $19,2 billion and today has $24,3 billion and he is the third in the list after Deripaska and Aleksey Mordashov with $24,5 billion while the wealth of Deripaska almost doubled for the year. It is interesting but the process was so quiet and behind the scenes without discussing in mass media and the shift of the leader was quite unnoticed.

As opposed to Abramovich to be discussed by everybody Deripaska is told only in connection with the list of the wealthiest people of the world and because of lawsuit with Mikhail Cherniy, one of the first magnates of Russia. Deripaska's name was last mentioned in connection with John McCain US presidential nominee and whether Deripaska was about to buy the potential President or McCain tried to set good relations with on the world's wealthiest people, nobody knows.

In spite of silence and immobility of the image of Russian tycoon, Deripaska has seen his fortune growing incredibly. He is rushing forward selling and purchasing, mortgaging and re-mortgaging, gaining credits under security of new assets and again purchasing new assets. It seems that he is purposeful and strict in his promise to become the wealthiest person in the world.

But the business of startling Abramovich is relatively stable and the increase in his wealth depends on the growth of value of «Euraz» shares (41% shares belong to Abramovich) which brought $6,8 billion to the magnet, quite decent unlike Deripaska.

Alexei Mordashov the owner of Severstal jumped from the ninth place in 2007 to the second place this year doubling his wealth to $24,5 billion (twice as much!). The shift was the same unnoticeable and quiet as with Deripaska. There was the only publication about automobiles in view of Mordashov where he was used as background for the vehicles. The swift increase in the wealth of Mordashov was connected with increase in price of Severstal. It is worth $25 billion and Alexei Mordashov takes the second of the Russian Top of the Wealthiest.

It is not interesting, moreover curios that in the world suffering from economic crisis, with countries growing poor and some of them will be soon declared as bankrupts but the integrated wealth of the Top 100 of Russian Wealthiest People is incredibly growing - from $337 billion in 2007 to $522 billion in 2008. Last year the top first wealth was valued at $660 millions and this year the price jumped to $1,1 billion. That means that this year the top 100 is only billionaires, and millionaires gave the floor to them. The top wealth of the first ten in 2007 made $10, 7 billions as with Viktor Vekselberg while the top ten in 2008 made $13,7 billion as in case of  German Khan.

The consequence of the world financial crisis is clear and who know what will happened this year. Time will show.

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