Surge of New Russian Billionaires: 15 Join Forbes List as Kim Holds Title of Richest Woman

Russia has seen the addition of 15 new billionaires to Forbes’ annual list of the world’s richest individuals in the past year, ranking fifth globally for the number of newcomers.

In spite of the sanctions and the repercussions from the extensive invasion of Ukraine, the Kremlin’s actions to redistribute foreign assets and a spate of nationalizations have fostered a new elite class in Russia.

The United States leads the pack of new billionaires, with 103 individuals joining the ranks, followed by Germany (37), China and Hong Kong (32), and India (17).

The overall count of Russian billionaires on the Forbes list has climbed from 125 last year to 146.

According to Forbes, Vagit Alekperov, the founder of the oil giant Lukoil, remains the wealthiest Russian, boasting a net worth of $28.7 billion. He is closely followed by Alexei Mordashov, the steel magnate from Severstal, with $28.6 billion, and Leonid Mikhelson, the chairman of gas company Novatek, with $28.4 billion.

Among the new billionaires are Vikram Punia, the founder of the pharmaceutical firm Pharmasyntez ($2.1 billion); Alexander Isaev from Elgaugol ($1.3 billion); and Ludmila Kogan, who inherited her late husband’s share in UralSib Bank ($1.3 billion).

Also entering the ranks are the founders of the agricultural firm Miratorg, Alexander and Viktor Linnik ($1.3 billion each), along with Boris Nuraliev, the founder of the 1C software company, also at $1.3 billion.

Andrei Filatov and his associates Nikita Mishin and Konstantin Nikolaev, all of whom previously held shares in the rail operator Globaltrans, joined the list with net worths of $1.2 billion each.

Other noteworthy new entrants include Alexander Evnevich of the Orimi Group and Tatiana Volodina, the former CEO of L’Etoile, each boasting a net worth of $1.1 billion.

Forbes also highlighted Ivan Tavrin, who made his debut as the top new Russian billionaire in 2023 with $2.4 billion, and has since seen his wealth rise to $4.4 billion in 2024.

Meanwhile, Tatiana Kim (previously Bakalchuk), founder and CEO of Russia’s largest e-commerce platform, Wildberries, continues to be the richest woman in the country, with a fortune of $4.6 billion, marking her fifth consecutive year at the top of this list.

Wildberries has been embroiled in controversy over a merger with Russ Group, a much smaller outdoor advertising company. This led to Kim’s former husband, Vladislav Bakalchuk, seeking assistance from Chechen leader Ramzan Kadyrov in response to what he characterized as a “hostile takeover” attempt of Wildberries.

The merger with Russ Group was announced in June 2024, forming a joint venture called RVB, where Wildberries received 65% and Stinn LLC (owned by the Mirzoyan brothers, Levan and Robert, who are linked to billionaire and Dagestan senator Suleiman Kerimov) acquired 35%.

Other affluent Russian women include Lyudmila Kogan, the primary shareholder of Uralsib Bank, and Elena Baturina, President of Inteco Management, both with net worths of $1.3 billion. Yekaterina Fedun, a shareholder in Lukoil, rounds out the list with an estimated fortune of $1.1 billion.

This article originally appeared in bne IntelliNews.