Russia could lose 37 thousand millionaires - Forbes

Due to the coronavirus crisis, 10% to 15% of dollar millionaires in Russia could lose this “status”. That's about 37,000 people, found . Forbes

“It can be assumed that most of the millionaires are the so-called “frontier” millionaires, that is, people with assets of $1-2 million,” Grigory Sedov, head of private clients at Renaissance Capital, told Forbes.

He noted that millionaires could lose money due to currency revaluation of ruble assets or due to the presence of high-risk assets in connection with the spring collapse in the markets.

According to the estimates of the Knight Frank agency, wealthy Russians could also lose on the sale of real estate and the conversion of funds into dollars that have risen in price by 10-15%. Real estate accounts for up to 22% of the portfolios of Russian clients with a capital of more than $1 million.

• billionaires in Russia On the other hand, there are two more (102), but their total fortune has decreased from $425 billion to $392 billion.