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.
China is prepared to finance most of Russia’s largest liquefied natural gas project, Yamal in the Arctic, according to billionaire Gennady Timchenko, a shareholder in OAO Novatek, which controls the deposit.
Present and past owners of OAO Bank Rossiya, the only company hit with sanctions for Russia’s takeover of Crimea, include three billionaires, two proteges of a Nobel Laureate and, according to a Spanish prosecutor, one possible mob boss.
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.
West Texas Intermediate crude fell for the first time in three days as the dollar strengthened and U.S. stockpiles grew for a ninth week. Brent advanced after President Barack Obama announced sanctions aimed at Russia.
Gunvor Group Ltd. is marketing a $350 million credit line for its Singapore-based subsidiary a month after Gennady Timchenko, the oil trader’s Russian billionaire co-founder, sold his stake in the business.