Number of Russian dollar millionaires surges despite war and sanctions

15 comments

1. >**The number of Russian dollar millionaires soared by 50% in 2023 whilst the number of billionaires also climbed according to findings reported by eurasia.net.**

   >As things stand, around 21,800 Russians now have assets in excess of one million dollars, with the common value of their capital increasing 62% in the last year.

   >This means that the number of the country’s dollar millionaires is now higher than in 2022 (14,600), and tops 2021’s pre-war figure of 18,500. Those with capital exceeding five million dollars has also jumped to 4,100. This was up from 2,500 in 2022 and 3,500 in 2021.

   >Lyubov Prokopova of Russian financial portal Frank RG said: “In 2023 (…) the most important driver of the growth of financial capital of customers (with capital of USD 1 million or more) in Russia was the inflow of ‘new money’ which was mainly due to the reduction of capital outflow from Russia.”

   >Citing Bloomberg data, Eurasianet also reported that the number of Russian dollar billionaires, as well as the total value of their capital, also rose.

   >According to analysts, this was directly related to Kremlin cronies profiting from the war with Ukraine.

   >Source: PAP

2. War. War never changes.

   Poor die in droves, while unscrupulous get richer.

3. Cos rich are not gonna suffer – poor will

4. Ok but show me that gini coefficient

5. What if you adjust for inflation?

6. You misspelled “because of”.

7. No real sanctions were implemented, comparing to actual sanctioned territories.

8. Rich people and politicians do well while half their country dies in a pointless war, what else is new.

9. War is big business, there are lots of money being made from the Russian tax payers

10. You cannot sanct countries that have unlimited resources like China and Russia. This isn’t a pc game. This is a failed plan.

11. Russia is an oligarchy. More oligarchs means a stronger Russia. Simple as.

12. as the dollar buys less and less.
    Russian economy is dead — kaput. Its a seemingly extremely slow but extremely painful death .

13. Tens of thousands of young poor Russians are dying like rats in a foreign land and Putin’s buddies get richer. I don’t say it’s very different for our soldiers, when Western countries are going to war in far away countries, but at least our soldiers are volunteering to be in the army and we ain’t there to conquer the land for our countries or to genocide its population.

14. Guys, this is called inflation. That’s one. Two, it really depends on the liquidity of assets in question and level of personal debt.

    These so called millionaires might own a flat in centre of Moscow or St. Petersburg as well as a few hundred USD in their personal accounts. Does that make them rich?

    Technically, yes. Liquid? Not really.

15. Not an issue by itself. Of course the rich are going to leech from the poor – that’s every society in times of crisis.