EIN PRESSWIRE

Russian LetterOne billionaires amass losses of USD 7.38 billion

LONDON, UK, November 23, 2022 /EINPresswire.com/ — According to calculations provided by Vizaca, the Russian billionaire founders of LetterOne – Mikhail Fridman, Petr Aven, German Khan and Alexei Kuzmichev – have seen a collective reduction in their wealth of USD 7.38 billion over the last year.

According to the company’s most recent publicly available annual report, which dates back to the end of 2020, LetterOne Holdings had net assets amounting to over USD 22 billion, including USD 1.7 billion in hedge fund investments. The investment firm invests across multiple industries and counts Russian nationals Mikhail Fridman and Petr Aven among its founders.

The European Union imposed sanctions on Aven, Fridman, Khan and Kuzmichev in March 2022, freezing assets belonging to the individuals including the LetterOne headquarters in Luxembourg.

Vizaca is an online publication catering to global entrepreneurs, technology leaders, marketing experts and SME owners that aims to showcase talent in business, assist with outreach, connect clients to the right audiences and promote organizations internationally.

The Vizaca Billionaires Index is a real-time ranking of the wealthiest individuals in the world, and is updated at the close of trading on the New York Stock Exchange every business day.

https://www.vizaca.com/billionaires/

Shamir Atif
DI PR
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