Russian billionaire, including aluminum tycoon Oleg Deripaska and football boss Roman Abramovich, have lost more than 230 billion dollars since the beginning of the financial crisis, reported Bloomberg. Collapse of the Russian capital markets is the most serious in 1998 when the country announced a moratorium on its foreign debt.
Wealth-25 system richest Russians, calculated on the basis of assets owned by them, has decreased by 62 percent since mid-May, when was the peak of the stock exchange indexes Micex. For the same period indicator decreased by 61 percent. The global credit crisis, the conflict in Georgia and a fall in prices of raw materials caused foreign investors to withdraw nearly 74 billion dollars in Russia from August to early October.

In 1998 there was a transfer of wealth in the hands of the Russians. Now things are turning, says Mark Mobius, manager of the fund Templeton Asset Management Ltd., Which manages nearly 30 billion dollars to developing markets.

The owner of Rusal, Oleg Deripaska, who is the richest on the list has lost over 16 billion dollars in recent months and last week sold its participation in Hochtief AG and Magna International Inc. The owner of Chelsea football club Roman Abramovich is the registered losses of 20 billion dollars., Based on assets owned by him, no real estate and cache.

The biggest loser was Vladimir Lisin, whose stake in Novolipetsk Steel Company was impaired by 22 billion dollars.

Owned by the chief of Lukoil, Vagit Alekperov, the company shares have lost about 60 percent of its value, and currently is estimated at 7.2 billion dollars.

At least one Russian billionaire, however, got away “unscathed” - Michael Prohorov, which in early April sold 25 percent share in Norilsk Nickel to Oleg Deripaska. The sale take place just before nickel prices start to fall sharply. From April until now the value of that share has fallen by almost 60 percent.

According to Paul Teplyuhin of Troika Dialog Asset Management, colossal loss of exchange may result in a redistribution of assets in Russian industry. In his words at the time observed increased interest of Russian investors to acquire shares of the current attractive levels.

Many analysts are of the opinion that the stakes now are much greater than those of privatization in the early 90-years after the bankruptcy of the country in 1998

Today the stock market in Russia was closed by regulatory authorities announced that trading will be resumed under appropriate conditions.

Sale of assets and shares of Fortis for 4 billion dollars is stopped Investment and investitions in Russian business and market Bank of America buys Merrill Lynch for 50 billion dollars Stock exchanges in Russia with great growth today The U.S. Federal Reserve provide 800 billion dollars to encourage lending Real estate funds in Asia has 10 billion dollars unused capital Strabag ready to buy Russian construction companies HSBC - a conservative approach for the salvation of the crisis Indexes in the U.S. went to increase. Sales of new homes in the U.S. with unexpected rise in September 122.8 billion may not be enough to save AIG from bankruptcy Possible regulation of markets for raw materials in U.S. The price of oil went down again Investors hover over the remains of sale for 1 billion pounds of UK Sell the most expensive apartment in New York for 60 million dollars Most indexes in Europe decreased due to the bankruptcy of Washington Mutual The crisis of capital markets in the U.S. continues The price of oil continues to fall The price of oil lowest for the past 21 months Two more banks liquidate in U.S. Oil noted weekly decline of nearly 10 percent. Limited fall in prices of raw materials U.S. market shares and Election Here comes the second wave of massive losses for banks in Europe and the U.S.? Asian indexes increased up to today’s session Russian gas flows back to Europe No resumption in Russian gas flow Russian gas to Europe ‘blocked’ Russian and US satellites collide Prominent Russian lawyer killed Russian Church to elect patriarch Ukraine ‘making gas crisis worse’ Negative growth in Spain of the GDP decrease in mortgage loans Again weak data in the U.S. press in Exchange indexes down Volkswagen briefly became the biggest company in the world by market capitalization U.S. automotive manufacturers can benefit from financial Rescue Plan Threat of forced sales over the papers of leading Spanish companies France is in recession, reported second quarter economic downturn, worse market conditions of employment and real estate The crisis threatens the entire automotive industry It is expected that 1.2 million homes in Britain can cost less than their mortgage Significant growth of exchanges in Europe Provide up to 30 percent decline in the value of business properties in the U.S. United States stopped short selling of financial shares Investors in properties no longer sees Central and Eastern Europe as an area protected by crisis Exchanges in Asia registered the most serious sessions in its history Oil leaps to 5 percent, gold also rose up Spain gripped by 2.3bn euro lottery Alpha Bank & Trust bankruptcy failure in the U.S. Bolivia nationalises energy firm White House advises banks to open credit Russian gas flow disappoints EU New bid to ease Zimbabwe crisis