What It's Like To Be A Billionaire In Russia

Roman Abramovich, a Russian oligarch and billionaire, is racing against the clock to beat Western sanctions. A move that shows what it's like to be a billionaire in Russia.
Russia has had quite a lot of ups and downs with their economy, especially between recovering from the fall of the Soviet Union to dealing with the pandemic! But one group that is pretty resilient is Russian billionaires. While the rest of the country was feeling the hit of a declining economy, the wealthy elite were sitting pretty and doing just fine. In fact, billionaires like Alexey Mordashov has been thriving as Russia’s richest billionaire. He and his fellow billionaires are buying mansions, yachts, and even using their wealth to promote Russian art around the world. The next generation of billionaires are definitely going to inherit their parents’ wealth. With the way the country is today, we might not see many “rags to riches” stories anymore since the Russian middle class is kind of stuck thanks to the pandemic. The children and grandchildren of these billionaires are getting educated in boarding schools in countries like Great Britain, and they are learning new ways to grow their family business. Finally, being a billionaire in Russia means not only do you have ties to some of the finer things in life, but you might also have some political ties as well. Russia has an oligarchy, which means that the country is mainly run by powerful politicians and rich people who act within their own interest. When you have so much cash, it’s not hard to easily work your way through the political ladder!

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