The Forbes 2026 ranking of Russia’s wealthiest individuals reveals a billionaire class that has not only survived but thrived amid sanctions and economic pressure. The list expanded to 155 billionaires, nine more than the previous year, and their combined wealth reached a record **$696.5 billion**. For the first time in the list’s history, a Russian fortune surpassed the $30 billion mark, a milestone driven largely by a surge in gold prices.
Here are the top 10 richest people in Russia in 2026, according to Forbes.
The Top 10 Richest Russians (2026)
| Rank | Name | Net Worth | Primary Source of Wealth |
|---|---|---|---|
| 1 | Alexey Mordashov | $37 billion | Severstal, Norgold |
| 2 | Vladimir Potanin | $29.7 billion | Interros, Nornickel |
| 3 | Vagit Alekperov | $29.5 billion | Lukoil |
| 4 | Leonid Mikhelson & family | $28.3 billion | Novatek |
| 5 | Suleiman Kerimov & family | $25.7 billion | Polyus (gold) |
| 6 | Vladimir Lisin | $25.5 billion | NLMK (steel) |
| 7 | Gennady Timchenko | $24.2 billion | Novatek, Sibur |
| 8 | Andrey Melnichenko & family | $20.4 billion | EuroChem, SUEK |
| 9 | Mikhail Fridman | $16.5 billion | Alfa Group, LetterOne |
| 10 | Alisher Usmanov | $14.5 billion | USM Holdings, Metalloinvest |
Source: Forbes 2026 ranking, as reported by TASS, Kommersant, and other outlets.
The Top Tier: Gold, Steel, and Gas
The very top of the list is dominated by industrialists whose fortunes are tied to commodities.
Alexey Mordashov‘s position at number one is a direct result of the precious metals boom. His $37 billion fortune—the first to exceed $30 billion—was propelled by a nearly 80% rise in the value of gold over the past year, benefiting his gold-mining company Norgold, alongside his controlling stake in steel giant Severstal.
Vladimir Potanin, in second place with $29.7 billion, holds the presidency of Norilsk Nickel, the world’s largest producer of palladium and a major producer of nickel and copper, through his investment vehicle Interros. **Vagit Alekperov**, the founder of oil giant Lukoil, is close behind at $29.5 billion, with Lukoil accounting for roughly 2% of global oil production.
Leonid Mikhelson, the founder of gas producer Novatek, and Suleiman Kerimov, whose family’s fortune has long been linked to gold miner Polyus, round out the top five with $28.3 billion and $25.7 billion respectively.
The Rest of the Top 10: Steel, Energy, and Finance
The second half of the list features a mix of industrial and financial titans. Vladimir Lisin ($25.5 billion) chairs NLMK, one of Russia’s largest steel producers. **Gennady Timchenko** ($24.2 billion) holds significant stakes in Novatek and petrochemicals firm Sibur. Andrey Melnichenko ($20.4 billion), alongside his family, is the beneficiary of fertilizer producer EuroChem and coal company SUEK.
The final two spots are occupied by figures whose fortunes have been shaped by the complexities of the post-2022 landscape. Mikhail Fridman ($16.5 billion) is a co-founder of Alfa Group and LetterOne, while **Alisher Usmanov** ($14.5 billion) is the founder of USM Holdings and a major shareholder in iron ore and steel company Metalloinvest.
The 2026 Forbes list tells
a story of resilience and realignment in Russia’s wealth landscape. The record total wealth and the growing number of billionaires suggest that, for the country’s top tier, the sanctions era has not been one of decline but of adaptation and, in some cases, immense enrichment. The dominance of gold and commodities at the top reflects the global economic currents of the past year, while the presence of figures like Fridman and Usmanov serves as a reminder of the ongoing legal and financial pressures facing those with international assets. It is a list defined by the industries that have weathered the storm best—and by the sheer scale of the fortunes those industries have created.
