Steel magnate Mordashov Russia’s new richest man

by www.rbth.com
Metals billionaire Potanin falls to second place

Alexei Mordashov, the main shareholder of steel major Severstal, is now the richest man in Russia, according to the Bloomberg Billionaires Index. In the past year, Mordashov’s wealth increased by $126 million to reach $15.7 billion, passing Norilsk Nikel CEO Mikhail Potanin, whose fortune is estimated at $15.5 billion.

Abramovich to create New York mega-mansion after forking out $78 million

Over the last 12 months, shares of Norilsk Nickel declined by 3 percent, while the shares of Severstal gained 18 percent. The rise in the price of steel products on the global market was the main driver for the growth. Mordashov and Potanin are now the 50th and 51st people in the world, according to the Bloomberg ranking.

In addition to Severstal, which is the fourth-largest steel producer in Russia, Mordashov controls National Media Group, Bank Rossiya and mobile operator Tele2-Russia. He also has stakes in gold producer Nordgold, energy equipment producer Power Machines and TUI, Europe's largest tour operator.

Mikhail Potanin owns 30.4 percent shares of Norilsk Nickel, the largest nickel producer in the world. According to Bloomberg, he also owns more than $500 million in real estate assets, including ski resorts in Sochi, and half of the Russian internet holding Rambler- Afisha-SUP.

Read more: Rich man’s world: Who was on the ‘Forbes List’ of tsarist Russia?>>> Subscribe to get the hand picked best stories every week
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