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Number of billionaire children in Russia up 50% this year

© RIA Novosti . Iliya Pitalev / Go to the mediabankNumber of billionaire children in Russia up 50% this year
Number of billionaire children in Russia up 50% this year - Sputnik International
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The number of billionaire children in Russia grew 50% in the past 12 months, and their aggregate wealth doubled in the reported period, Russia's Finans (Finance) business magazine said in its annual ranking of Russia's riches heirs.

The number of billionaire children in Russia grew 50% in the past 12 months, and their aggregate wealth doubled in the reported period, Russia's Finans (Finance) business magazine said in its annual ranking of Russia's riches heirs.

The magazine will publish the full version of its ranking on Monday.

The fortune of Russia's richest children is calculated by dividing their parents' estimated wealth by the number of legitimate children. The result must be above one billion.

"Yusuf Alekperov, the son of Lukoil's largest shareholder, is doomed to head lists of richest heirs... The reason for Yusuf's leadership... is that he is the only child and the only heir," the magazine said on its website.

Finans estimated the wealth of Yusuf's father, LUKoil CEO Vagit Alekperov, at $10.65 billion in its annual ranking of Russia's richest people published in February.

The second place went to the only son of Alexei Kuzmichev, a major shareholder in the Alfa Group, one of Russia's largest privately owned financial-industrial conglomerates. His wealth was estimated at $7.1 billion.

The third place went to Oleg and Marina Deripaska, children of RusAL CEO and owner Oleg Deripaska, with $6.9 billion each.

Three heirs of Vladimir Lisin were put into the fourth place, with the wealth of $6.7 billion. Their father, the owner of the Russian steel giant Novolipetsk Steel, was named Russia's richest person with an estimated wealth of $18.8 billion in the magazine's 2010 rankings.

The aggregated wealth of Russian billionaire children more than doubled from last year's $107 billion and stood at $250 billion. The number grew from 54 to 86.

 

MOSCOW, August 28 (RIA Novosti)

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