Richest Man In Russia Is 55th Wealthiest Person In The World 

Vladimir Lisin, the chairman of Novolipetsk Steel or NLMK, a leading manufacturer of steel products, is the richest person in Russia. He has an estimated $26.9 billion fortune.

Born in 1956, Lisin got his first job in the 1970s as a mechanic in a Soviet coal mine.

According to reports, the steel oligarch studied at Siberia's Metallurgy Institute and took a job as a steelworker. In 1992, he joined a group of tenacious traders, the Trans-World Group, which controls Russia's steel and aluminum industry.

Currently, Lisin occupies the 55th position on Forbes’ list of world billionaires.

The majority of his fortune is from his 79.3% stake in NLMK, a publicly-traded miner, according to Bloomberg.

NLMK reportedly exports steel to Europe, Southeast Asia, the Middle East and the U.S.

Aside from NLMK, Lisin also owns railway operator First Cargo and some ports and shipping companies.

Alexander Mordashov, a majority shareholder in the steel company Severstal is the second richest in Russia. He has a net worth of $26.1 billion.

Vladimir Potanin, the president and beneficiary of mining and metallurgical company Norilsk Nickel, who has a net worth of $26 billion, ranked third.

Trailing behind Potanin are Leonid Mikhelson and Andrey Melnichenko. Mikhelson is the chairman of gas company Novatek and has a net worth of $24.8 billion. On the other hand, Melnichenko is the main shareholder in EuroChem, a fertilizer manufacturer, and Suek, a leading coal energy company, and has a net worth of $22.7 billion.

Last week, Bloomberg reported that Russia’s billionaires were already experiencing the impact of the escalating tensions between the country and Ukraine.

The outlet stated that in less than 24 hours after Russian President Vladimir Putin decided to invade Ukraine, Russia’s richest people lost about $39 billion.

Mordashov reportedly lost $4.2 billion, while Potanin lost $3 billion.