Alisher Usmanov, Russia’s richest person, moved control of most of his $20 billion fortune last year to a holding company based in the British Virgin Islands, a collection of more than 60 isles 5,600 miles away from Moscow.
With $14 billion from selling out of TNK-BP, Mikhail Fridman and German Khan’s Alfa Group is planning to return to the oil industry and expand worldwide, according to Stan Polovets, chief executive officer of the Alfa- Access-Renova Consortium, which owned the Russian oil venture 50:50 with BP Plc.
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.
TNK-BP, the Russian oil venture owned by BP Plc and a group of billionaires, won’t cut refining volumes as the country moves to the so-called 60-66 system of export duties, German Khan, an executive director and shareholder in the producer, told reporters today in Moscow.
The TNK billionaires, who agreed to sell out of their oil venture with BP Plc for $28 billion, said they plan to invest most of the proceeds in Russia after President Vladimir Putin said he “hoped” they would.