The number of Russian billionaires reached a record 155 in 2026, according to a new ranking by Forbes, marking the fourth consecutive year of growth for the group. Steel magnate Alexei Mordashov topped the Russian list with a net worth of $39 billion, surpassing Vagit Alekperov, who had held the position for the previous two years and now ranks third with $29.5 billion.
Vladimir Potanin, president of Norilsk Nickel, secured the second spot with a fortune estimated at $29.7 billion. The collective wealth of these 155 individuals totaled $695.5 billion, a significant increase from the $625.5 billion reported for Russia’s wealthiest in 2025.
Forbes attributed the increase in wealth, in part, to the roughly 16% appreciation of the ruble over the past year, noting that assets valued at approximately 80 billion rubles were sufficient to qualify for inclusion on the list. Seven of the 14 new entrants to the ranking amassed their fortunes in the agricultural and food sectors, according to Forbes Russia.
Eight individuals who were on the 2025 list no longer appear in the 2026 ranking. Four saw their fortunes fall below the $1 billion threshold, three experienced a loss of key assets, and one, Arkady Volozh, renounced his Russian citizenship.
Globally, Elon Musk maintained his position as the world’s wealthiest person, with an estimated net worth of $839 billion. The total wealth held by the world’s billionaires reached a record $20.1 trillion, with the overall list expanding to include 3,428 individuals. This global increase was fueled, in part, by a surge in stock markets driven by investor interest in artificial intelligence.
Vagit Alekperov, formerly the richest Russian, saw his wealth decline from $28.7 billion in 2025 to $29.5 billion in 2026, according to Forbes. Alekperov resigned as president of Lukoil in 2022 following British sanctions. Leonid Mikhelson, chairman of Novatek, ranked fourth on the Russian list with $28.4 billion.
