Potanin bypasses Alekperov in Russian billionaires list

Russian tycoon Vladimir Potanin, one of core owners of metals giant Norilsk Nickel, has become the richest man in the Russian section of the Forbes Real-Time Billionaires list, which tracks wealth of tycoons in real time, with the wealth of $25.1 billion, Forbes said.

Potanin overcame two other tycoons on his way to the top – CEO of oil major Lukoil Vagit Alekperov and CEO of independent gas producer Novatek Leonid Mikhelson. Alekperov trails behind Potanin by $100 million, and Mikhelson’s wealth amounts to $24.9 billion, according to the rating.

"It happened due to continuous growth in shares of Norilsk Nickel, the major asset of Potanin (who owns 34.6% in the company now). The shares of the metals giant have gained about 60% since the beginning of 2019," Forbes said in a statement.

They traded at the level of 13,500 rubles apiece on the Moscow Exchange a year ago, while today they grew to 21,426 rubles per share.