In 2007, there were more than 50 billionaires in Russia and more than 100,000 millionaires. In 2002, there were just seven billionaires. (source: Economist) 
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3 Comments
I think The Economist reports the number of millionaires at 119,000 (not 100).I think the rapid rise in real estate values over the past 5 years is probably one of the major factors in the growth of dollar millionaires.It would be very interesting to see the break-down of millionaires by region. Obviously, Moscow & Peter have the bulk.Your new Business, Energy, and News “Daily Blasts” are very useful.
What we see in Russia of 2007 is exactly what we saw in Russia of 1907 — that is, a tiny class of super-rich than anyone in the world might envy, surrounded by a vast population of desperately poor people on the brink of starvation. The result was the Bolshevik Revolution in 1907. Russia seems to be headed down exactly the same path, and at the same time also copying the failed Soviet practice of KGB rule.In other words, Russia is repeating not one but two of the same mistakes twice. It’s a the most spectacular instance of human error in world history.
Thank you for the correction – I have made the change to “more than 100,000.”