Economic|The Russian attack
The assets of the oligarchs have melted by tens of billions as Russia’s invasion of Ukraine has plunged Moscow’s stock prices.
Europe woke up on a gloomy morning on Thursday as news of Russian troops attacking Ukraine spread.
In Russia, war news and the fear of sanctions collapsed stock prices. The Moscow MOEX Russia index closed down 33 percent.
At the same time, Russia’s own super-rich elite quickly felt the reaction of the market to the situation in its investment portfolios. The value of the assets of Russian billionaires melted less than a total of $ 39 billion a day, news media reported Bloomberg.
According to Bloomberg, some customers of the Swiss bank UBS also suffered forced sales because they used Russian bonds as collateral for their portfolios and UBS reduced the loan value of some Russian bonds to zero.
UBS is said to serve half of the world’s billionaires.
About Russian billionaires the CEO of the oil company Lukoil lost the most value Vagit Alekperov.
Bloombergin billionaire index according to Alekperov, assets melted to $ 6.2 billion and were $ 13 billion after the drop. The wealth of the oil billionaire oligarch thus fell by almost a third.
CEO of Severstal, Russia’s second largest steel company Alexei Mordashov in turn, lost $ 4.2 billion on Thursday, dropping his fortune to $ 23 billion.
Vladimir PotaninThe main owner of Norilsk Nickel and currently the richest person in Russia, lost $ 3 billion.
Early year has melted the assets of Russian billionaires anyway.
According to Bloomberg, Vagit Alekperov’s wealth has melted nearly $ 10 billion this year.
Also a billionaire Gennadi Timtšenkon assets have dwindled by about $ 10 billion since the beginning of the year. Tymoshenko has citizenship not only of Russia but also of Finland.
Alexei Mordashov’s assets, on the other hand, have dwindled to almost $ 6 billion. Vladimir Potanin has taken off almost $ 5 billion.
Today, however, the oligarchs have had a sigh of relief for at least a moment as Moscow’s stock prices have turned up.
The MOEX Russia index closed up as much as 20% while Vladimir Putin troops continued their attack on Ukraine.
#Russian #attack #Russian #oligarchs #lost #billion #day #Putins #troops #flooded #Ukraine
