You think Wall Street is having some hard times? Look at Russia’s impoverished oligarchs.
RealClearMarkets has taken a look at the annual Russian “rich list” produced by Finans, the Russian business magazine.Oleg Deripaska, who topped Finans’ list for the two previous years, has fallen to eighth place after losing a whopping 85 per cent of his wealth — down to $4.9bn from $40bn, Finans estimated.
“Party boy” Mikhail Prokhorov, the metals and banking billionaire who sold his stake in mining company Norilsk Nickel early last year, moved up from seventh place to top the list with a fortune of $14.1bn - way down from $21.5 billion a year ago, the magazine said.
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