Latest news with #networth
Russia Today
14 hours ago
- Business
- Russia Today
Richest Russians add $24 billion to wealth
The combined net worth of Russia's wealthiest businessmen rose by more than $24.5 billion in the first half of 2025, according to data published on Monday by the Bloomberg Billionaires Index. The index, which tracks the daily fortunes of the world's 500 richest individuals, updates based on fluctuations in the share prices of companies tied to them. Vladimir Potanin, who owns a significant stake in the mining giant Norilsk Nickel, has led the ranking once again as the richest Russian businessman on the list. Since the start of the year, he recorded the largest individual gain among Russian billionaires, increasing his fortune by $3.85 billion to a total of $31.7 billion, data showed. Vagit Alekperov, founder of Russia's second-largest oil company Lukoil, came in second. He has reportedly earned nearly $1.5 billion, bringing his net worth to $26.8 billion. Alexey Mordashov, the chairman of steel giant Severstal, was ranked the third-richest Russian businessman. He has earned $1.4 billion since the beginning of the year, increasing his fortune to $24.7 billion. Mordashhov was followed by Vladimir Lisin, the majority shareholder of Russia's NLMK steel company, who took fourth place on the index. Lisin was the biggest Russian loser during the period. The estimated value of his fortune fell 1.72 billion to $24.1 billion, according to Bloomberg. Leonid Mikhelson, co-owner of Russia's second-largest natural gas producer Novatek, took fourth place in the index, with a total of $23.7 billion. His net worth has grown by $1.31 billion. Meanwhile, Alisher Usmanov, a major shareholder in iron ore producer Metalloinvest and co-owner of telecom operator MegaFon, followed Potanin closely in terms of gains, with his wealth rising $3.17 billion since the start of the year. His net worth stood at $16.4 billion as of July 1, Bloomberg reported. Russia's wealthiest woman, Tatiana Kim, the founder and chief executive of the country's largest e-commerce platform, Wildberries, lost $345 million and ranked 20th among Russian billionaires with a net worth of $7.03 billion, just ahead of Aleksandr Abramov, co-founder of Evraz, the fourth-largest steelmaker in Russia, who rounded out the list with $6.88 billion.
Yahoo
2 days ago
- Business
- Yahoo
8 Key Signs You've Made It to the Upper-Middle Class
There's a distinction between the lower, middle and upper classes, but did you know there's also a category between them called the upper-middle class? Learn More: Trending Now: While the middle class is often considered fairly financially stable, the upper-middle class tends to have a higher net worth and even more financial security — though not quite as much as the truly wealthy. As you start improving your income and building your net worth, you may when you've gone from the middle to upper-middle class. While there's no one-size-fits-all definition, and monetary amounts tend to vary, there are certain signs that you've made the jump. Here's what the upper-middle class is and the top signs you're there. People in the middle and upper-middle classes both benefit from a higher standard of living, less financial stress and more financial freedom or stability. However, there are some differences between the two tiers. Here's how Nicole Nicolet, owner of Let's Make Life Great, defined the two categories. 'The middle class can be defined as anyone who can afford a reasonable standard of living, including owning a home, going on yearly or bi-yearly vacations, and being able to support future investments like part of a college education for their children,' she explained. 'In most cases, they will have to work up to the expected retirement age. The upper-middle class can afford a little above the standard of living of the middle class.' The upper-middle class often gets to enjoy more vacations, has minimal to no debt and is on track to retire — and live comfortably once retired — without issue. Jeff Rose, a certified financial planner (CFP) and the founder of Good Financial Cents, added to this definition. 'Middle class typically involves stable income and some savings, with incomes between $50,000 and $125,000, according to the U.S. Census Bureau,' said Rose. 'Upper-middle class might mean earning 15-50% above the median with a comfortable financial cushion, while the upper class generally refers to the top 1-3% earners with substantial wealth and investment-derived income.' Other sources define the upper-middle class as anyone making a lot of money but that hasn't crossed the threshold to become truly wealthy. These individuals often have a net worth of at least $500,000 to $2 million. Read Next: In addition to having a high income and net worth, here are eight other key signs that you've made it to the upper-middle class. People in the middle class often have disposable income. Those in the upper-middle class have money left over even after maxing out their retirement account contributions and taking care of their other major investments and expenses. They're also far less concerned or stressed about using said money since they're more financially secure. 'Cracking into the upper-middle class? You'll probably notice a few key things,' said Rose. 'First off, you've got some wiggle room in your budget for the fun stuff — think vacations and regular nights out. You're not just socking money away for retirement, but you've got a mix of investments like stocks or maybe even a rental property.' When you're in the upper-middle class, you have more than just cash at your disposal. You also have a diversified portfolio with assets such as stocks and rental properties that can boost your income and enhance your financial security. Even if your total net worth is distributed across multiple assets, it still adds up to a significant amount. You may also have fully paid off your mortgage, though this isn't necessarily required. 'One sign that you are in the upper-middle class may include being able to pay off big investments, like a mortgage, years early, without restricting your lifestyle,' said Nicolet. If you do have a mortgage, it's one that you're very comfortable with and that isn't dragging you down financially. Another way to see if you've made it to the upper-middle class is to simply look at where you live. According to Rose, if 'your home is in a ZIP code where folks want to live,' that's a good sign that you're there. Keep in mind that it's not all about appearances. People in the middle class might try to keep up with the Joneses — that is, they might compare themselves with their neighbors and try to match their level of wealth or status. Those in the upper-middle class, however, do not. They don't need to worry about whether their house is big enough or their car is luxurious enough. They can afford many of these high-end things without stretching their financial means. One of the biggest indicators that you've made it to the upper-middle class is if you have little to no stress when faced with an unexpected bill or expense. If a financial emergency comes up, you can cover it without a problem. 'If an unexpected bill popped up, you could cover it without panicking,' said Rose. Having significantly more disposable income and a higher net worth often comes with major lifestyle changes. This doesn't mean you're suddenly living above your means. Rather, it means you can afford more than you ever could before, including goods and services that you used to view as being a luxury or out of reach. It also means you can afford medical expenses, travel and more expensive hobbies or interests. 'Being in the upper class means almost no restrictions on lifestyle. Not billionaire rich, but certainly without any limitations to enjoy most standards of living,' said Nicolet. 'Additionally, being in the upper-middle class means you can easily afford more leisure purchases like recreational vehicles, sporty cars and maybe even a small vacation home in popular vacation spots.' This is similar to what you might experience in the upper class, but perhaps a tier lower. 'If you are in the upper class, then you will be able to afford essentially any purchase you want, without ever having to choose a payment plan or worry about future financial deficits,' added Nicolet. 'The upper class is an interest-free and interesting life.' The cost of higher education is high, and many people who go to college or university end up with student loan debt. Those in the upper-middle class can afford to attend college — or send their children to college — without having to take on this debt. 'You can swing the better educational opportunities for your kids (or yourself!) without sweating over the price tag,' said Rose. 'These are all little financial wins that hint you're sitting pretty in the upper-middle class.' Retiring early is the dream for many people, but it might not feel that achievable if you're struggling with debt or everyday expenses. For the upper-middle class, this isn't as much of an issue due to factors like diversified investments, passive income and overall financial security. 'In most cases, being in the upper-middle class also signifies that you can retire early, without much concern for financial troubles down the road,' said Nicolet. While those in the lower and middle classes may only have one source of income, wealthier individuals almost always have two or more income streams. These income sources could include a working a high-paying job, owning a business or having a passive income source — like dividends from investments or rental property income. By no means is this a comprehensive list of signs that you've made it to the upper-middle class. Everyone's situation is different, and the definitions of class vary broadly. What one person might consider as upper-middle class could be a tier higher or lower than someone else's definition of it. What matters is determining where you're at right now financially and where you want to be. If there are still things that stress you out financially, you might still have some work ahead of you. But if you're living comfortably and enjoying the lifestyle of your dreams, chances are you're already where you want to be. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives The 5 Car Brands Named the Least Reliable of 2025 This article originally appeared on 8 Key Signs You've Made It to the Upper-Middle Class Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
5 days ago
- Business
- Bloomberg
Mystery $33 Billion Medicine Fortune Collapses in Days
By , Pui Gwen Yeung, and Nicola M White Updated on Save When Yat-Gai Au was worth $33 billion on paper, he wasn't in his Hong Kong office. One week later, when his net worth plunged to $10.1 billion, he wasn't around either.
Bloomberg
6 days ago
- Business
- Bloomberg
Mystery $33 Billion Chinese Medical Fortune Collapses In Days
When Yat-Gai Au was worth $33 billion on paper, he wasn't in his Hong Kong office. One week later, when his net worth plunged to $10.1 billion, he wasn't around either.
Yahoo
23-06-2025
- Business
- Yahoo
Buffett, Musk or Trump: Who Has Gained the Most Wealth in 2025?
It's been a chaotic year politically, economically and in the markets. When it comes to personal fortunes, however, Warren Buffett, Elon Musk and Donald Trump are still some of the biggest names in the game. That said, only one of them has actually grown richer in 2025. Check Out: Consider This: Let's break down how each of their net worths has changed this year, and what it says about the different ways they play the game. What he gained: +$ 11.5 billion Net worth (as of June 16, 2025): $154 billion Ranking: 7th richest in the world Warren Buffett's wealth has risen by $11.5 billion so far in 2025, according to the Bloomberg Billionaires Index. He now sits at $154 billion, making him the seventh richest person on the planet. A key driver of those gains is Berkshire Hathaway, with stock up a solid 8.15% year-to-date, including dividends, as of June 2025. To put it in perspective: Buffett's net worth is roughly equal to the combined wealth of Jensen Huang, Phil Knight and Mark Cuban. Trending Now: What he lost: -$61.5 billion Net worth (as of June 16, 2025): $371 billion Ranking: 1st richest in the world Elon Musk remains the world's richest person, but 2025 hasn't gone his way financially. He's lost about $61.5 billion since the start of the year, according to Bloomberg. The main reason? Tesla stock took a beating (down more than a third in Q1) as the EV space got more crowded, and Musk's political ties drew criticism. Some Tesla vehicles were even set on fire in protests. According to Musk's Forbes profile, he owns about 12% of Tesla, so his fortune is tightly tied to the stock's performance. What he lost: -$1.4 billion Net worth (as of June 16, 2025): ~$5.1 billion Ranking: N/A Donald Trump's net worth has taken a hit this year. After Trump Media & Technology Group went public, Bloomberg reported his wealth at $6.5 billion in late March. But by the end of that month, Forbes revised his estimate to $5.1 billion, citing falling stock value and updated asset valuations. As of June, Trump has dropped off the Bloomberg Billionaires Index, which only includes the world's top 500 richest people. The current cutoff is around $5.8 billion, suggesting his net worth now sits below that mark. Of the three, only Warren Buffett has increased his wealth in 2025. Elon Musk has seen the biggest drop, while Donald Trump's fortune, though headline-grabbing, has declined overall. While Musk and Trump both lean heavily on branding and speculative assets, Buffett's rise is powered by slow, steady growth and real businesses. In a year where hype has dominated headlines, Buffett is quietly proving that boring still works. His old-school strategy may not trend on social media, but in 2025, it's leaving the rest in the dust. Editor's note: All data was collected and up to date as of June 16, 2025. More From GOBankingRates Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on Buffett, Musk or Trump: Who Has Gained the Most Wealth in 2025?
