Tinkov and Fedun: Russian billionaires become millionaires

Tinkov and Fedun: Russian billionaires become millionaires

Tinkov and Fedun: Russian billionaires become millionaires
Several dollar billionaires from Russia lost their financial status due to Russia's special operation in Ukraine.  Arkady Volozh and Oleg Tinkov have recently become millionaires.  Even earlier, a similar reduction in capital affected Leonid Fedun, who heads the board of directors of Spartak FC and is vice president of Lukoil.

Forbes estimated Fedun's fortune at $11.1 billion. Previously, the entrepreneur was in 16th place in the ranking of the Russian rich, and now he has lost about 80% of his capital in a few days.  The grounds for it are collapsed shares of Lukoil and the state of the financial market.  However, this is not the biggest loss if we compare the situation with the position of Vagit Alekperov, who lost $13 billion.

One of the founders of Yandex, Arkady Volozh, also dropped out of the list of billionaires.  Back in 2021, Forbes estimated his wealth at $2.3-2.6 billion, and now his assets are about $580 million. In one day (February 24), Volozh lost $400 million, and since the beginning of the special operation in Ukraine, losses have reached almost  $2 billion
The third in the list of famous businessmen who lost the status of a billionaire is Oleg Tinkov.
Shares of TCS Group on the London stock exchange decreased in price by 90% over the week, and their owner from the owner of $4.7 billion assets turned into the owner of $820 million, as his fortune was reduced by 5.5 times.

In a March 1 publication, Bloomberg experts note that the special operation in Ukraine hit Russian oligarchic capital hard.  Starting from 2022, the losses of billionaires from Russia reached $84 billion, and the decision taken on February 24 to start the operation deprived them of $39 billion, having collapsed the country's stock market.
Tatyana Bakalchuk, who owns Wildberries, lost $3.4 billion in a month.
In recent years, her fortune has grown, reaching $ 7.6 billion. Now Forbes estimates the assets of the entrepreneur at $ 4.2 billion.

The position of Roman Abramovich turned out to be difficult in the current situation.  The owner of Chelsea FC, who bought the sports club for £140m in 2003 and spent about £2bn on it, had to set up a special charitable foundation, which was entrusted with the management of the club on 26 February.

Experts suggest that the club may be sold to the Swiss Hansjorg Wyss, whose fortune is estimated at $ 5 billion. Abramovich has already said that he plans to donate all proceeds from the deal to help those who suffered from the events in Ukraine.

03.03.2022