Russia minted 22 new billionaires last year, even as the West slapped sanctions on the country to try to cripple it financially
mining magnate Andrei Skoch and his family also saw their net worth rise from $4.7 billion to $7.9 billion in the same period.
Viktor Winkler, a sanctions lawyer, told Forbes many Russian billionaires have managed to react and set up their game plan in reaction to sanctions that only came much later after the war started. As a result,"their assets have survived remarkably well," Winkler said. a Russian businessman who was sanctioned by the UK and EU, saw his wealth fall from $5.3 billion in March 2021 to $4.3 billion in March 2022. It took a further hit this year and was last at $4.2 billion.
Last year's boost in the wealth of Russian billionaires stands in stark contrast with how American and Chinese billionaires performed over the same period, amid a broad
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