Over the month, Russian billionaires lost almost $28 billion.
On January 25, 2022, the largest US bank JPMorgan closed all remaining long positions in the Russian ruble / REUTERS illustration
Amid the collapse of the Russian stock market over the past month, starting from December 20, 2021, Russian billionaires have lost a total of $27.9 billion.
It is reported by Forbes with reference to the data of the Forbes Real-Time counter.
According to the publication, there are 104 Russians in the Forbes global ranking of billionaires, of which 76 have lost part of their fortune amid the threat of an invasion of Russian troops into Ukraine.
The main owners of Novatek and Sibur, Leonid Mikhelson and Gennady Timchenko, lost the most. Their fortunes decreased by $2.1 and $1.9 billion, respectively.
In third place in terms of losses was Senator Suleiman Kerimov, whose family controls Polyus, one of the world’s largest gold mining companies. His fortune was reduced by $1.8 billion.
Denis Sverdlov, the founder and CEO of electric car manufacturer Arrival, also became one of the leaders in terms of losses.
Yandex founder Arkady Volozh, who lost 26% ($600 million) of his fortune, was also on the list of those who suffered the maximum losses. His capital was reduced to $1.7 billion. 
Forbes screenshot
The collapse of the Russian stock market:
- On January 18, 2022, the Moscow Exchange recorded a drop in the index by 6.5% to 3328 points by the close of trading . Shares of Gazprom, Sberbank and Yandex fell by an average of 10%.
- On January 21, 2022, the Russian stock market continued to show a significant drop. The Moscow Exchange index fell by 2.83 percent to 3416.56 points, the RTS index – by 3.43 percent to 1400.81 points.
- On January 24, 2022, the RTS index – the main indicator of the Russian stock market – fell by more than 5% .
- On January 24, 2022, the Russian regulator stopped buying foreign currency .
- On January 25, 2022, the largest US bank, JPMorgan, closed all remaining long positions in the Russian ruble .
- (C)UNIAN 2022
And, the bottom hasn’t been reached yet. There is a lot more money that can get burned, and it’s burning away every day. If the West wanted too, this could even be accelerated.
All those losses just to support a tiny poisonous mushroom who thinks he is Stalin and will always be a villain in the history books. Congratufuckinglations…….
If those losses continue, will their support for the rug rat continue? That’s the big question.
They probably will because their mafia boss owns 51% of everything.
I doubt that they are very happy with the recent developments in the markets, and the near future is looking ever more bleak.