The world’s 300 wealthiest people lost a combined $44.4 billion yesterday as global stocks tumbled the most in a month and the ruble dropped to an all-time low amid Russia’s growing military presence in Ukraine.
On a grassy plain an hour’s drive southwest of Moscow, Vladimir Lisin has started producing steel at a newly completed plant. That’s something rival metals billionaire Lakshmi Mittal hasn’t achieved in Europe.
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.
Russian Prime Minister Vladimir Putin met with OAO Novolipetsk Steel Chairman Vladimir Lisin today and asked him about steel and port projects that the company’s investing in, according to the government.
OAO Novolipetsk Steel’s billionaire owner Vladimir Lisin may bid for a 25 percent stake in OAO Russian Railways’ Freight One cargo shipping unit, Kommersant reported, citing an unidentified person close to the state-run railroad.