Report: Kids of billionaire Mordashov enter list of richest people

MOSCOW, Jun 26 (PRIME) -- Children of Russian billionaire Alexei Mordashov, the founder of steel giant Severstal, are quickly climbing the world’s wealthiest people rating, Bloomberg news agency said on Wednesday.

The country’s fourth-richest man transferred some of his holdings last week in European tour operator TUI AG, worth U.S. $890 million, to his sons Kirill, 20, and Nikita, 19. In February, he gave them a 65% stake in gold producer Nordgold valued at $780 million, the agency said.

"The key goals are to maintain the continuity of generations and bring Kirill and Nikita up to date and help them to get experience managing the portfolio," Bloomberg quoted a spokeswoman for Mordashov as saying.

End