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We got even richer: how the income growth of Russia’s richest businessmen affected the economy

Date: March 20, 2023 Time: 19:25:19

Since the beginning of the year, the wealth of Russia’s richest businessmen has increased by more than $10.4 billion.

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Since the beginning of the year, the wealth of the richest businessmen in Russia has increased by more than $10.4 billion, TASS reports with reference to the Billionaires Index compiled by Bloomberg.

The question is how this foreign Bloomberg knows what is going on in the pockets of our businessmen – money, as you know, loves silence. It turns out that the status of the Russian financial bosses is calculated on the basis of the value of the shares of the companies they own, the report specifies. It turns out that the growth of your well-being is a direct consequence of the success of the domestic economy?

Photo: VALIULIN nail

– Let’s rejoice for our businessmen, but I would not draw such an unequivocal conclusion, – Georgy Ostapkovich, director of the Center for Market Research at the Higher School of Economics, soberly commented on the situation of KP.RU. – Yes, our economy showed stability, having fallen by 2 percent, and not 12 or 15, as some researchers predicted. But he fell, he didn’t get up. And the stock indices show no growth. So these study results can simply be taken into account, but it is not worth drawing far-reaching conclusions from them. The stock price, which, judging by the message, formed the basis of the calculation, is a very fickle thing.

If you look at the share prices of our blue chips, then Severstal and Novolipetsk Iron and Steel Works (NLMK) have shown growth since the beginning of the year, while Lukoil has declined.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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