Billionaires With $110bn Fortune Flee Russia

They now represent other countries.

In the updated Forbes world ranking of billionaires, 24 entrepreneurs, previously considered Russian, were listed as representatives of other countries. Such adjustments are usually made at the request of the businessmen themselves. According to The Moscow Times calculations, the combined fortune of these billionaires is almost $110 billion.

Thus, co-founder of Alfa Group Alexei Kuzmichev ($7.5 billion) is listed as a billionaire from France, former president of Alfa Bank Piotr Aven ($4.7 billion) represents Latvia, founder of investment and construction corporation Inteko Elena Baturina (1.3bn) is now a UK entrepreneur, former Lukoil vice-president Leonid Fedun (10.4bn) is linked to Monaco, Akron shareholder Vyacheslav Kantor (9.5bn) is from Israel. The co-founder of ‘Yandex’ Arkady Volozh (1.2 billion) and former co-owner of Rambler Group Alexander Mamut (1.4 billion) also represent Israel.

Most of the billionaires who changed countries in the 2025 ranking now appear as representatives of Switzerland: Mikhail Prokhorov (10.7bn), Egor Kulkov (4.1bn), Vladimir and Nikolai Fartushniak (1.9bn and 1.5bn), Alexander Mikhalsky (1.3bn), Oleg Boiko (1.5bn), Andrei Rappoport (1.2bn), Yuri Shefler (1.1bn), and others.

Other changes: Andrey Melnichenko (17.4bn) now represents the UAE, Alisher Usmanov (16.7bn) represents Uzbekistan, Gavril Yushvaev (1.9bn) represents Israel, Michel Litvak (2.5bn) represents the UAE, Sergey Lomakin (1.2bn) represents Cyprus, Gleb Fetisov (1.3bn) represents Cyprus, Artem Khachatryan (1.6bn) represents Cyprus, Dmitry Rybolovlev (6.4bn) represents Monaco. Denis Shtengelov (1.4bn) is now linked to Australia.

The trend to change citizenship among Russian billionaires has significantly increased since the war in Ukraine, when the Russian passport became a serious obstacle to doing business in the West due to sanctions. At least six billionaires have officially renounced their Russian citizenship, including Revolut co-founder Nikolay Storonsky, Freedom Holding owner Timur Turlov and DST Global investment company founder Yuri Milner.

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