Sanctions, tanking oil prices and the freefall in the ruble have altered many fortunes, particularly the Who’s Who on the Russian’s Rich List. There has been a change of the guard, with Alisher Usmanov unseated as Russia’s richest man. Now Viktor Vekselberg, who has a Ukranian Jewish father, is now in the number one spot. Vekselberg is co-founder of Renova and his current worth is at $14.7 billion, although he lost $200 million between March and December 2014. This loss was small in comparison to the 25% cut in Usmanov’s fortune, and his current worth is at $13.8 billion. Mikhail Fridman lost 18% of his net work in 2014, and his current fortune is $12.5 billion.
Not all of Russia’s richest were losers in 2014. Roman Abramovich pocketed $100 million, and his net worth is $12.7 billion. This is because many of his assets are outside of Russia. Alexei Mordashov saw a $1.6 billion increase in his fortune, for a 15.5% rise. He is CEO of Severstal, a conglomerate with global exposure to metals energy and mining.