{"id":1344797,"date":"2022-02-26T08:21:32","date_gmt":"2022-02-26T13:21:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1344797"},"modified":"2022-02-26T08:23:14","modified_gmt":"2022-02-26T13:23:14","slug":"russian-billionaires-lost-39-billion-in-a-day-on-stock-market-rout","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/russian-billionaires-lost-39-billion-in-a-day-on-stock-market-rout\/","title":{"rendered":"Russian Billionaires Lost $39 Billion in a Day on Stock Market Rout"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frussian-billionaires-lost-39-billion-in-a-day-on-stock-market-rout%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1344797&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2022\/02\/26082311\/505cdfe1636a116ff7dd1dc0a69b7fc4\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>(Bloomberg) \u2014 Russia\u2019s wealthiest individuals were already feeling the squeeze from escalating tensions between the nation and Ukraine.<\/p>\n<p>Most Read from Bloomberg<\/p>\n<p>It got much worse for their net worth after Russian President Vladimir Putin\u2019s decision to invade Ukraine. In less than 24 hours, they lost $39 billion \u2014 more than they had up to that point this year.<\/p>\n<p>The damage was across asset classes. Russia\u2019s benchmark MOEX Russia Index closed 33% lower in Moscow, the fifth-worst plunge in stock market history in local currency terms. It marked the first time since 1987\u2019s Black Monday crash that a decline of that magnitude hit a market worth more than $50 billion.<\/p>\n<p>UBS Group AG, meantime, triggered margin calls on some wealth management clients that use Russian bonds as collateral for their portfolios after cutting the lending value of some debt from the country to zero, people with knowledge of the matter told Bloomberg News. The Swiss wealth manager says it caters to half of the world\u2019s billionaires.<\/p>\n<p>One of the worst security crises in Europe since World War II threatens to deepen market declines in the region, but especially in Russia, which has been hit with sanctions by the U.S. and U.K. A handful of billionaires, including Gennady Timchenko, are also subject to penalties for their ties to Putin, though there are calls for widening the potential targets.<\/p>\n<p>Read more: Here Are the Russian Billionaires Facing Sanctions Over Ukraine<\/p>\n<p>\u201cThere are a lot of people in the U.S. and Europe who want to hit them directly,\u201d Chris Miller, co-director of the Russia and Eurasia program at Tufts University\u2019s Fletcher School, said of Russian billionaires in an interview. \u201cI don\u2019t think there\u2019s any good news in the sanctions for them.\u201d<\/p>\n<p>Vagit Alekperov, the chairman of Lukoil, saw the sharpest decline in his net worth. It was slashed by almost a third in a day, falling by about $6.2 billion to $13 billion, according to the Bloomberg Billionaires Index. Shares of the Moscow-based oil producer slumped about 33% on Thursday.<\/p>\n<p>Alexey Mordashov, chairman of the steelmaker Severstal, lost $4.2 billion on Thursday, bringing his fortune to $23 billion. Vladimir Potanin, president of Norilsk Nickel and currently Russia\u2019s richest person, lost $3 billion.<\/p>\n<p>Alekperov and Timchenko have each lost about $10 billion this year, or more than 40% of their fortunes. Those are the biggest percentage declines among the Russian billionaires tracked by the Bloomberg wealth index.<\/p>\n<p>Most Read from Bloomberg Businessweek<\/p>\n<p>\u00a92022 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) \u2014 Russia\u2019s wealthiest individuals were already feeling the squeeze from escalating tensions between the nation and Ukraine.Most Read from BloombergIt got much worse for their net worth after Russian<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1344797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1344797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1344797"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1344797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1344797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1344797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1344797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}