Among Russian billionaires, Pavel Durov, the founder of Telegram, suffered the greatest financial loss, losing $3.6bn in one year, Forbes reports.
As of 2023, his wealth is estimated at $11.5bn, and he has fallen from the third to the tenth place on the Forbes Russia ranking. Thirteen of the 110 people on the Forbes list experienced a decrease in their wealth, losing a total of $8.5bn. This decline in wealth was partly attributed to the decrease in the value of Telegram following the collapse of Snap's quotes, the company that owns Telegram's competitors, WhatsApp and Snapchat Messenger.
Other billionaires who experienced a decrease in wealth include Leonid Boguslavsky, whose wealth decreased by $1.1bn to $3.6bn due to the decline in the capitalization of his Fatadog company, and Dmitriy and Igor Buchman, the owners of the developer company Playrix, who each lost $1.1bn and now have a wealth of $7bn.
Andrey Melnichenko, the founder of Yevrokhim and SUEK, was found to be the richest Russian with a wealth of $25.2bn in 2023, according to Forbes. Furthermore, Durov was named the richest man in Dubai in the previous year and was recognized as the most influential person in Dubai in February 2023 by Arabian Business.
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