Russian billionaires’ wealth rises by nearly $24 billion in 2025

The combined wealth of Russia’s richest individuals increased by $23.8 billion by the end of 2025, according to data from the Bloomberg Billionaires Index (BBI). 

The largest gain over the year was recorded by Alisher Usmanov, a shareholder in Metalloinvest, Russia’s largest iron ore producer. His net worth rose by $6.04 billion, bringing his total fortune to an estimated $19.3 billion, Caliber.Az reports.

He was followed by Iskander Makhmudov, founder of the Ural Mining and Metallurgical Company (UMMC), whose wealth increased by $4.75 billion. With a net worth of $7.88 billion, Makhmudov more than doubled his fortune in 2025.

Third on the list was Pavel Durov, founder of the messaging app Telegram. His wealth grew by $3.38 billion, reaching approximately $14.4 billion.

In contrast, Mikhail Fridman experienced the largest decline among Russia’s top billionaires. His net worth fell by $4.7 billion over the year, decreasing to $10.1 billion.

By Sabina Mammadli