Bloomberg rates Mordashov as Russia’s wealthiest businessman

MOSCOW, Oct 3 (PRIME) -- Alexei Mordashov, the majority shareholder of Russian steelmaker Severstal, has become Russia’s wealthiest tycoon according to the Bloomberg Billionaires Index (BBI), Bloomberg reported late Monday.

Mordashov’s fortune rose by U.S. $1.3 billion since the beginning of 2017 to $18.2 billion. Mordashov topped another tycoon, Vladimir Potanin, president of metals giant Norilsk Nickel, with the wealth growing by $1.18 billion to $17.8 billion. Leonid Mikhelson, CEO of independent gas producer Novatek, ranked third, with his fortune rising by $836 million to $16.4 billion.

The combined wealth of 28 Russian billionaires grew by $23.478 billion in January–September, according to BBI.

The index is calculated based on capitalization and financial reports of companies owned by businessmen, or on a ratio between capitalization and earnings before interest, taxes, depreciation and amortization (EBITDA) or a ratio between a share price and earning per share.

End