The bulk of Gennady Timchenko's wealth is derived from energy holdings. His biggest asset is a 45 percent stake in Gunvor Group, the fourth-largest oil trader in the world. He also holds stakes in Novatek, Russia's second-largest gas producer after Gazprom, and Sibur, Russia's largest chemical manufacturer.
The investigation into possible oil- price fixing gathered pace as trading houses from Glencore Xstrata Plc, the $70 billion mining firm, to Gunvor Group Ltd. were asked to provide information to European regulators.
Russian opposition leader Alexey Navalny, who faces three criminal cases, pledged to compete for the presidency and threatened to “do everything” to imprison Vladimir Putin and his billionaire allies if he seizes power.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Arkady Rotenberg, the boyhood friend and former judo partner of black-belt President Vladimir Putin, already is collecting his winnings from what promises to be the most expensive Winter Olympics ever next year.
Billionaire energy trader Gennady Timchenko may acquire the 33 percent he doesn’t already own in Transoil, the company bidding for OAO Russian Railways’s cargo unit Freight One OJSC, Kommersant reported.
Russian billionaire Gennady Timchenko’s Volga Resources investment fund has agreed to form a 50-50 venture with Maxim Vorobiev’s RS Group that will hold 60.936 percent of OAO Russian Sea Group, a Russian consumer-food producer.