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Russia's richest lose $32 billion as Putin accelerates Ukraine crisis

The country's 23 billionaires have a net worth of $343 billion, according to Bloomberg wealth list, down from $375 billion at year-end.

Leonid Mikhelson

Leonid Mikhelson, billionaire and chief executive officer of Novatek PJSC. Photo: Bloomberg

Ben Stupples | Bloomberg
The fortunes of Russia’s super-rich have tumbled $32 billion this year, with the escalating conflict in Ukraine poised to make that wealth destruction much larger. 

U.S. President Joe Biden on Tuesday unleashed sanctions targeting Russia’s sale of sovereign debt abroad and the country’s elites, and said he’s sending an unspecified number of additional U.S. troops to the Baltics in a defensive move to defend NATO countries.

Gennady Timchenko heads the list of Russian billionaires who have seen their fortunes drop, with almost a third of his wealth disappearing this year, according to the Bloomberg Billionaires Index, a listing of the

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First Published: Feb 23 2022 | 10:43 AM IST

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