Bloomberg Names Russia's Richest Man

PHOTO by Vitaly Belousov / RIA Novosti

Severstal owner Alexey Mordashov is now the richest man in Russia with a fortune of $15.7 billion, according to the Bloomberg Billionaires Index.

As of Oct. 31, Mordashov’s fortune increased by $126 million, which allowed him to take first place over Interros President Vladimir Potanin whose fortune totals $15.5 billion. Mordashov is now 49th in the world ranking while Potanin is 51st, thanks to Severstal shares growing by 18% this year, whereas Norilsk Nickel shares dropped by 3%.

Leonid Mikhelson with a fortune of $15.1 billion, Viktor Vekselberg ($14.2 billion), Mikhail Fridman ($12.8 billion), and Alisher Usmanov ($12.1 billion) also appear in the ranking.