Deripaska, Melnichenko, Vekselberg: the most impoverished Russian billionaires of the year

Sanctions and falling ruble are not the first year because of these factors the Russian Forbes list members are getting poorer.
03.01.2019
Forbes
Origin source
The sanctions imposed by Washington in April 2018 dealt a powerful blow to the Russian economy, which was already going through hard times. Under the restrictive measures of the United States were immediately seven members of the Forbes list. Two of them - Oleg Deripaska and Viktor Vekselberg - led the top 5 most impoverished billionaires of this year.

Totally, the five most unlucky businessmen from our rating this year lost $ 13.8 billion. For more information about who, how and why - in the Forbes photo gallery. The calculations are made on the basis of the Forbes Real-time rating for the period from February 12, 2018 to December 21, 2018.

Oleg Deripaska

Lost $ 3,596 million

Oleg Deripaska, of course, can be called the main victim. In 2018, the businessman was literally in pursuit of trouble. At the beginning of the year, Anastasia's model “Rybka”, Vashukevich, spoke publicly about how she had a rest on the billionaire’s yacht, where Deputy Prime Minister Sergei Prikhodko also allegedly was. Then the billionaire’s partner in Norilsk Nickel, Vladimir Potanin, who waited for the end of the peace agreement with Deripaska, tried to buy out Roman Abramovich’s share in the metallurgical company (as a result, the London court canceled the deal). Finally, in April 2018, Deripaska and his largest assets fell under US sanctions. And even at the end of the year, the US Treasury Department decided to remove restrictive measures from En +, UC Rusal and Eurosibenergo, Deripaska himself remains on the “black list”, and his condition has more than doubled over the year.

Andrey Melnichenko

Lost $ 2992 million

The largest assets of the billionaire (Eurochem, SUEK and Siberian Generating Company) show steady growth from year to year, but the general economic situation makes itself felt. The ruble exchange rate has fallen by 15% since the beginning of the year, and with it the company's valuation.

Viktor Vekselberg

Lost $ 2682 million

The owner of Renova, Viktor Vekselberg, also came under US sanctions in April. As a result, the businessman was forced to get rid of shares in a number of companies: he sold the Swiss Renova Management AG, a stake in Sulzer and Oerlicon.

Also, because of the sanctions, the deal to buy GV Gold (“Vysochaishy”), controlled by the shareholders of Lanta Bank, the company “Gold of Kamchatka” from Renova for almost $ 500 million, fell through.

Alexey Mordashov

Lost $ 2284 million

Alexey Mordashov, one of the leaders in the Forbes rating, lost more than $ 2 billion this year. Despite the fact that Nord Gold’s shares, in which it owns 98.4%, were growing, the valuation of the value of its largest asset, Severstal’s stake, was significantly shrunk.

Mikhail Fridman

Lost $ 2202 million

Mikhail Fridman was noted this year in one of the largest deals involving Russian capital. In September, an agreement was signed between BASF from Germany and LetterOne, controlled by Friedman and his Alfa Group partners, to merge their oil and gas divisions, Wintershall and DEA, into one company. Nevertheless, the fall of the ruble reduced the billionaire's wealth by $ 2 billion. The role of X5 shares also played its role - the retailer's shares for the year fell by 25% to 1,691 rubles.

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