Billionaire Usmanov remains Russia's richest tycoon: Forbes

14:58 • 17.04.14
Economy

Alisher Usmanov is Russia's richest tycoon for the third year in a row, with wealth of $18.6 billion, after selling his stake in the social media website Facebook, according to the latest report by the U.S. magazine Forbes.

Usmanov is a co-owner of Russia's largest iron ore miner, Metalloinvest, and the country's number-two mobile operator, MegaFon. He also owns stakes in the Russian internet group Mail.Ru and the British Premier League football club Arsenal, Reuters reports.

His worth rose $1 billion from his previous rating after the sale of his and his partners' stake in Facebook for $2.5 billion, according to Forbes.

Mikhail Fridman, the co-owner of Alfa Bank and telecoms operator Vimpelcom, is still Russia's second-richest tycoon, worth $17.6 billion, up $1.1 billion. The third richest, Viktor Vekselberg, who made his money in metals and energy, rose from fourth place with a worth of $17.2 billion, up $2.1 billion year-on-year.

For the first time in the rating's history, tycoon-turned-politician Mikhail Prokhorov, who owns the Brooklyn Nets basketball team and a stake in the world's largest potash producer, Uralkali, was not included into the top 10. His wealth fell $2.1 billion to $10.9 billion.

Consumer-oriented businessmen rose on the list, in step with the growth of Russia's middle class. Entrepreneur Oleg Tinkov, who founded and owns a majority stake in the consumer-credit firm TCS, climbed 76 places to 75th place after taking his company public in October 2013. His wealth was listed as $1.4 billion.

Arkady Volozh, founder and chief executive of Russia's largest search engine, Yandex, rose 34 spots to 60th place after the company's share price doubled. Yandex raised $1.4 billion in an initial public offering in New York in 2011.
 

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