Russian billionaires lose over $28 billion in wealth since start of year

According to data from the Bloomberg Billionaires Index at the end of October, the combined wealth of Russia's wealthiest entrepreneurs has decreased by more than $28 billion since the beginning of the year.

Vladimir Potanin, president of Nornikel, experienced the largest decline, losing $8.1 billion to reach a net worth of $21.6 billion. Other significant losses include Mikhail Prokhorov, whose wealth fell by $4.86 billion to $10.8 billion, and Mikhail Fridman, who saw a $3.8 billion reduction to $10.4 billion.

Additional notable declines were reported for Andrey Melnichenko ($2.8 billion loss), Telegram co-founder Pavel Durov ($2.61 billion loss), and former Lukoil vice president Leonid Fedun ($1.96 billion loss). Other billionaires in the top ten facing decreases include Vladimir Lisin, Leonid Mikhelson, Alisher Usmanov, and Aleksey Mordashov.