Vekselberg to top Russia’s rich list

According to a report in The Guardian on 23 October entitled “Russia’s richest man“, oligarch Viktor Vekselberg will, according to Bloomberg’s Billionaire list, top the list of richest Russians after the sale of his interest in TNK-BP (as one of the shareholders in the AAR Consortium). He will be worth over USD 18 billion and become the world’s 40th richest person globally. Similarly fellow AAR shareholder (through Access) Leonid Blavatnik will shoot up to USD 15.4 billion.

It is worth recalling that Blavatnik defaulted through his company LyondellBasell on the repayment of a GBP 2.5 billion loan in 2008 granted by ABN Amro, as reported in the Western media at the time, including in the Daily Telegraph- Russian tycoon had loan of GBP 2.5 billion written off.

Funny that such a rich person defaulted on such a major debt, something that is missing from his Wikipedia entry for some reason.

Let us hope that these oligarchs, as well as the other oligarchs to benefit from the deal (Mikhail Fridman (USD 15.1 billion) German Khan, now worth USD 10.3 billion and Alexey Kuzmichev, now worth USD 8 billion), will now allocate a good share of their fortunes built from Russia’s natural resources, to charity, to an improvement in the wages of the employees who have helped them get so rich. It would of course be good if they acknowledged that they should have paid past bank debts and in a bid to make up for wronging, admit to any instances of corruption, invest their own money in improving Russia’s threadbare infrastructure that they have leveraged for their success and also in the state of Russia’s hospitals.

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