Russia has caught up with the United Kingdom in the number of U.S.-dollar billionaires despite Western sanctions and economic isolation over the war in Ukraine, according to a new global wealth report by the research firm Altrata.
Russia’s billionaire population grew 8.5% over the past year to 128 people with a combined wealth of $457 billion.
Britain also counted 128 billionaires, a 4.9% rise year-on-year, with a collective wealth of $323 billion.
The two countries now share fourth place in the global ranking of Altrata’s Billionaire Census 2025, behind the United States (with 1,135 billionaires), China (321) and Germany (184).
Altrata said Europe surpassed 1,000 billionaires for the first time, while Asia recorded slower growth amid China’s economic slowdown and trade tensions.
Worldwide, the billionaire population rose 5.6% to a record 3,508 individuals in 2024.
Total billionaire wealth jumped 10.3% to $13.4 trillion in the third consecutive year of growth.
Altrata CEO Brian Alster said both wealth creation and loss are “accelerating” amid global market volatility, warning that individuals near the $1 billion threshold can fall off the list rapidly as markets swing.
Altrata’s data is based on its proprietary database, which tracks global business leaders and wealthy individuals using public records, valuation models and intelligence on financial assets, business interests, philanthropy and networks.
The firm says investors, non-profits and academic institutions use the data to understand ultra-high net-worth trends.
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