Moscow/Princeton: Vladimir Lisin, who started as an electrical fitter in Siberia in the 1970s, is now Russia’s wealthiest person. The metals magnate slipped past rival Alexey Mordashov Monday as shares of Lisin’s Novolipetsk Steel PJSC climbed 3.5%, pushing his fortune to $20.19 billion, according to the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people. He’s the majority shareholder of Novolipetsk Steel, which has returned 18% this year, including reinvested dividends, helping him add $2.17 billion to his net worth. Mordashov, the chairman of rival steelmaker Severstal PJSC, has seen his fortune increase 2.6% to $20.18 billion. Mordashov, 52, had been Russia’s wealthiest person for 267 days, succeeding Vladimir Potanin.

Source: Mint June 05, 2018 10:52 UTC