Suleiman Kerimov amassed a net worth of $18 billion betting mainly on shares of companies controlled by Vladimir Putin only to gamble away the bulk of that on Morgan Stanley and other banks during the global financial crisis.
Billionaire Alexander Nesis sold shares in OAO Uralkali, the world’s largest potash producer, two weeks after the company bought out fellow shareholder Zelimkhan Mutsoev for $1.3 billion, according to three people with knowledge of the matter.
Polymetal International Plc, the Russian gold and silver miner part-owned by billionaire Alexander Nesis, expects to write down the value of assets by as much as $340 million after a slump in the price of bullion.
Evraz Plc slid the most in more than two weeks as Citigroup Inc. and Barclays Plc lowered their recommendations on Russia’s largest steelmaker by output, citing the outlook for the commodity in the nation.
Russian billionaire Alexander Nesis , an investor in OAO Polymetal and OAO Uralkali , plans to spend $1 billion on a railcar-factory project to meet domestic demand for transporting raw materials from mines and smelters.
Stocks slid the most since June and oil surged to an 18-month high amid concern the U.S. will take military action against Syria. Treasuries, the yen and gold rose while Turkey’s lira and India’s rupee reached record lows.