russian Billionaire Count Surges, Nearing UK Levels despite Sanctions
London/Moscow – Russia‘s billionaire population has grown by 8.5% in the past year, reaching 128 individuals – equaling the United Kingdom’s count, according to a new report on global wealth.This increase comes despite ongoing international sanctions and economic isolation stemming from the war in Ukraine.
The collective wealth of Russia’s billionaires totals $457 billion (393 billion euros), while the UK’s billionaire wealth stands at $323 billion (277.8 billion euros). Globally, the number of billionaires rose by 5.6% to a record 3,508 in 2024, marking the third consecutive year of growth, with a combined wealth of $13.4 trillion (11.5 trillion euros).
Europe has surpassed a meaningful milestone,now home to over 1,000 billionaires. However, growth in Asia has been tempered by economic slowdowns in china and ongoing trade tensions.
The United States continues to lead the world with the highest number of billionaires at 1,135, followed by China (321) and Germany (184). Britain and Russia are now tied for fourth place, according to data compiled by altrata.
“The volatility of global markets is accelerating both the creation and loss of wealth,” warned Brian Alster, CEO of altrata. “Individuals approaching the $1 billion mark could quickly disappear from the list if market conditions change.”
Altrata’s findings are based on its proprietary database, which utilizes public data, valuation models, and facts on financial assets, business interests, philanthropy, and networks to ensure accuracy.
Rounding out the top 15 countries with the largest billionaire populations are India, Switzerland, Hong Kong, France, Italy, Saudi arabia, Canada, Singapore, Brazil, and the United Arab Emirates.
