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MOSCOW - STEEL baron Vladimir Lisin was ranked Russia's richest man by Forbes magazine on Friday after a year in which the number of Russian billionaires doubled to 62 as resource tycoons restored their riches following the crisis.
Mr Lisin, the 53-year-old owner of Novolipetsk Steel, more than tripled his fortune to US$15.8 billion (S$21.7 billion) in the last year to head a top 20 dominated by the elite of Russia's steel, oil and mining sectors, Forbes said in its Russian edition for May.
Mr Lisin, a clay pigeon shooting enthusiast and huntsman, replaced Mikhail Prokhorov at the top of the list. Mr Prokhorov, a co-owner of gold miner Polyus and investment bank Renaissance Capital, saw his fortune rise to US$13.4 billion.
Third on the list was Mikhail Fridman, whose interests in telecoms, retail and oil doubled his fortune to US$12.7 billion.
Russia's economy, heavily reliant on oil, is recovering from its deepest economic slump in 15 years thanks to improved global consumer demand and higher crude prices. The benchmark RTS stock index has doubled in value in the last 12 months, while the rouble is trading at 16-month highs versus the euro-dollar basket used by the central bank to guide monetary policy.
Forbes said the number of Russian billionaires almost doubled to 62 from 32 a year ago. The combined net worth of the 100 richest people was US$297 billion, more than twice the US$142 billion total of last year. -- AP
Mr Lisin, the 53-year-old owner of Novolipetsk Steel, more than tripled his fortune to US$15.8 billion (S$21.7 billion) in the last year to head a top 20 dominated by the elite of Russia's steel, oil and mining sectors, Forbes said in its Russian edition for May.
Mr Lisin, a clay pigeon shooting enthusiast and huntsman, replaced Mikhail Prokhorov at the top of the list. Mr Prokhorov, a co-owner of gold miner Polyus and investment bank Renaissance Capital, saw his fortune rise to US$13.4 billion.
Third on the list was Mikhail Fridman, whose interests in telecoms, retail and oil doubled his fortune to US$12.7 billion.
Russia's economy, heavily reliant on oil, is recovering from its deepest economic slump in 15 years thanks to improved global consumer demand and higher crude prices. The benchmark RTS stock index has doubled in value in the last 12 months, while the rouble is trading at 16-month highs versus the euro-dollar basket used by the central bank to guide monetary policy.
Forbes said the number of Russian billionaires almost doubled to 62 from 32 a year ago. The combined net worth of the 100 richest people was US$297 billion, more than twice the US$142 billion total of last year. -- AP
