Kenneth Glad
Russia’s billionaire class has reached a new financial milestone, surpassing a key measure of household savings. New figures indicate the combined fortunes of the country’s wealthiest individuals now exceed what Russian households collectively keep in term bank deposits. The comparison highlights how wealth at the very top of the economy has expanded rapidly in recent years.
The latest global billionaire ranking by Forbes includes 155 Russians in 2026, the largest number ever recorded from the country.
According to The Moscow Times, their combined fortunes have risen to approximately $696.5 billion.
Record billionaire ranking
Steel magnate Alexey Mordashov currently leads the Russian group with an estimated net worth of $37 billion. Close behind are mining executive Vladimir Potanin, who controls Norilsk Nickel and T-Bank, and oil industry figure Vagit Alekperov, founder of Lukoil, each with fortunes approaching $30 billion.
The list also features 14 newcomers this year. The Moscow Times writes that the additions include investors Ruslan and Timur Rakhimkulov, former Krasnodar regional governor Alexander Tkachev, and Vladimir Ivanov, a former Yandex programmer who is now a co-owner of the Nebius Group.
Much of Russia’s billionaire wealth has historically been tied to commodities such as metals, oil and natural gas. Many of these fortunes were initially built during the privatization era and later expanded through global energy and resource exports.
Savings comparison
A comparison with household savings highlights the scale of that wealth.
Bank of Russia data shows households held 46.23 trillion rubles in term deposits as of early February 2026, roughly $587 billion at current exchange rates.
In effect, Russia’s billionaires now control more wealth than the country’s households hold in their deposits.
The gap is striking.
The picture looked very different in 2022, when Western sanctions and a steep downturn in Russian financial markets sharply reduced the fortunes of the country’s richest individuals.
Forbes data shows their combined wealth fell to $352.8 billion that year, while the number of Russian billionaires dropped to 88.
Since then, billionaire wealth has rebounded for four consecutive years. United24Media notes that this recovery has taken place despite economic pressure linked to Western sanctions and the ongoing war in Ukraine.
The figures illustrate how fortunes at the top have recovered more quickly than the broader Russian economy, underscoring the growing concentration of wealth among the country’s richest individuals.
Sources: The Moscow Times, Forbes, United24Media
