logo
Russia's Richest Billionaires Fortune Rises to $625.5 Billion

Russia's Richest Billionaires Fortune Rises to $625.5 Billion

Taarek Refaat
Forbes magazine revealed that the wealth of Russia's richest people increased by more than 80%, bringing their combined fortunes to $625.5 billion, representing 146 billionaires, according to its Russian-language list of Russia's Richest People.
Vagit Alekperov, the former head of Lukoil, topped the Forbes list for the second year in a row, with a fortune of $28.7 billion. Alekperov resigned from his position as head of Lukoil in 2022 after Britain imposed sanctions on him.
Alexei Mordashov ranked second with a fortune of $28.6 billion, moving up from fourth place on last year's list.
Forbes reported that 15 completely new billionaires joined the list, most notably Vikram Punia, the Indian-born owner of pharmaceutical company PharmaSynthetics, with a fortune of $2.1 billion.
Here is a list of the 10 richest billionaires:
1) Vagit Alekperov - $28.7 billion
2) Alexei Mordashov - $28.6 billion
3) Leonid Mikhelson - $28.4 billion
4) Vladimir Lisin - $26.5 billion
5) Vladimir Potanin - $24.2 billion
6) Gennady Timchenko - $23.2 billion
7) Andrei Melnichenko - $17.4 billion
8) Pavel Durov - $17.1 billion
9) Alisher Usmanov - $16.7 billion
10) Suleiman Kerimov and family - $16.4 billion
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
Egypt confirms denial of airspace access to US B-52 bombers
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
Lifestyle
Pistachio and Raspberry Cheesecake Domes Recipe
News
Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content
Arts & Culture
Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized
Videos & Features
Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO)
Sports
Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
News
Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies
Arts & Culture
New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Arts & Culture
Arwa Gouda Gets Married (Photos)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

‘Digitopia' competition aims to foster digital innovation among Egyptian youth with EGP 10m prizes
‘Digitopia' competition aims to foster digital innovation among Egyptian youth with EGP 10m prizes

Daily News Egypt

time5 hours ago

  • Daily News Egypt

‘Digitopia' competition aims to foster digital innovation among Egyptian youth with EGP 10m prizes

Egypt's Ministry of Communications and Information Technology has launched an annual competition called 'Digitopia' to discover and support creative ideas and projects in the information technology sector, with prizes totalling EGP 10m. The competition aims to encourage innovators from primary school students up to the age of 35 to develop technological solutions to societal challenges. The first edition of the contest will run from Aug. 1 to mid-October, with registration open until Aug. 12. The competition will cover several fields, including software solutions and artificial intelligence, cybersecurity, and gaming and digital arts. It will be organised by the ministry's Information Technology Industry Development Agency (ITIDA), the Information Technology Institute (ITI), the National Telecommunication Institute (NTI), and Egypt University of Informatics (EUI). Communications Minister Amr Talaat said the initiative is part of the ministry's efforts to support digital creativity and spread a culture of innovation among students and graduates. He said it provides a platform for innovators to develop their ideas into feasible technological solutions that contribute to building a 'digital Egypt.' 'Digital creativity represents one of the main pillars of building a knowledge-based economy,' Talaat said, affirming the ministry's commitment to fostering an environment of innovation and entrepreneurship. 'The competition targets various age groups as part of a comprehensive vision aimed at discovering innovators at an early stage… to prepare a generation capable of creativity and innovation.' The competition offers a grand prize of EGP 1m and multiple other cash and in-kind prizes with a total value of EGP 10m, in addition to specialised training opportunities with local and international technology companies. Participants are divided into four main categories: primary school students (grades 4-6), preparatory and secondary school students (grades 7-12), university students, and graduates up to the age of 35. The competition will be implemented in several successive stages, starting with registration and introductory sessions, followed by idea submission, development of ideas into technological solutions, judging, and finally the announcement of the winners. The judging panel will consist of experts and specialists in the field of digital technology and innovation.

39% Tariff on Swiss Imports Sends Shockwaves Through Luxury Watch Industry
39% Tariff on Swiss Imports Sends Shockwaves Through Luxury Watch Industry

See - Sada Elbalad

time10 hours ago

  • See - Sada Elbalad

39% Tariff on Swiss Imports Sends Shockwaves Through Luxury Watch Industry

Taarek Refaat Luxury watch collectors may want to think twice before stepping into a Rolex boutique this year. The Trump administration's newly announced 39% tariff on Swiss imports threatens to push U.S. retail prices for high-end timepieces sharply higher. The White House unveiled its updated tariff plans on Thursday, raising the proposed rate from the 31% announced earlier this year. The move caught the global watch community off guard, with Switzerland, home to brands like Rolex and Cartier, at the epicenter. Eugene Totonikoff, CEO of the Swiss Watch Market, told Business Insider the announcement was 'a real shock' and that 'its effects will be immediate.' Swiss President Karin Keller-Sutter expressed disappointment, saying the 39% rate far exceeded expectations. Leading brands, including Rolex, have already increased U.S. prices this year, likely in anticipation of higher duties, according to a July report from Morgan Stanley on the Swiss watch market. U.S. imports of Swiss goods have faced a baseline tariff of 10% since April, but the new 39% duty, set to take effect August 7, would dramatically raise costs for luxury watchmakers and could shrink U.S. inventories. While Switzerland can still negotiate with Washington, collectors and dealers may soon have to adjust to a new reality: higher prices or fewer available pieces. Joshua Ganjee, CEO of European Watch Company, predicts more buyers will turn to pre-owned luxury watches instead of newly imported Swiss models. 'For many American collectors, a 39% tariff makes new Swiss releases a luxury that's harder to justify,' he said. Morgan Stanley's report noted that second-hand watch dealers have already seen stronger demand this year as Swiss brands raised their U.S. prices. While pre-owned watch prices have generally fallen since mid-2022, that decline has slowed. However, demand pressure could soon reverse the trend. Although existing U.S. stock won't be hit by the new tariff, Totonikoff warned the secondary market will likely respond 'much faster' than major retailers. He expects pre-owned prices to climb by as much as 10% next month and up to 35% within six months as buyers shift toward available inventory. 'This is not just a tax,' Totonikoff said. 'It's a seismic event that will create a stark divide between the new and pre-owned watch markets.' read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results

Turkish Envoy Hosts Solidarity Event for Palestine in Cairo
Turkish Envoy Hosts Solidarity Event for Palestine in Cairo

See - Sada Elbalad

time10 hours ago

  • See - Sada Elbalad

Turkish Envoy Hosts Solidarity Event for Palestine in Cairo

By Ahmad El-Assasy Turkish Ambassador to Cairo, Salih Mutlu Şen, hosted a solidarity event at his residence, bringing together over 300 Palestinian and 100 Egyptian guests. The gathering was held in cooperation with the Palestinian Embassy, IHH Humanitarian Relief Foundation, and the Vefa Association, underscoring Turkey's unwavering support for the Palestinian cause. Ambassador Şen emphasized that the event reflects the commitment of Turkish President Recep Tayyip Erdoğan and the compassion of the Turkish people. 'We deeply appreciate Egypt's leading role in advocating for a ceasefire, delivering humanitarian aid, and supporting a two-state solution,' he said. 'Turkey stands side by side with Egypt, offering constructive support.' During the event, Ambassador Şen delivered an optimistic message regarding the future of Palestine, stating that 'Palestine will undoubtedly achieve its independence and freedom.' He also shared two pledges made by Palestinian youth attending the event: To remain rooted in Gaza, the West Bank, Jerusalem, and all Palestinian lands, and to hold fast to hope. To stay committed to the principles of peace and justice in the struggle for a free and independent Palestine. The gathering served as a powerful expression of unity, cooperation, and shared aspirations between Turkey, Egypt, and the Palestinian people. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store