Page 44 - RusRPTDec22

4.3.2 Corporate profits dynamics
The combined wealth of Russia’s billionaires decreased by $83.4bn in January–October, according to the Bloomberg billionaires Index (BBI) seen by PRIME on November 1. The index is calculated using capitalization and the financial reports of the companies owned by the businessmen. For some companies a capitalization to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio or a share price to earnings per share ratio are used. The rating comprises 500 wealthiest people of the world, including 25 Russians. Vladimir Potanin, one of the core owners of metals giant Norilsk Nickel, led the rating with a $1.08bn wealth fall to $29.8bn. Independent gas producer Novatek’s co-owner Leonid Mikhelson ranked second with the wealth decreasing by $8bn to $27.4bn. Businessman Alexei Mordashov lost $7.78bn to $21.1bn, occupying the third place.
44 RUSSIA Country Report December 2022 www.intellinews.com