Around 500 super-rich Russians control more wealth than the poorest 99.8% of Russians, according to a new report by the Boston Consulting Group (BCG) into Russia’s inequality.
The approximately 500 individuals with a net worth of more than $100 million — controlled 40% of the country’s entire household wealth. That was three times the global average, where the super rich’s net worth makes up a combined 13% of total wealth.
At a combined $640 billion, BCG found the wealth of the richest 500, who make up less than 0.001% of Russia’s population, was higher than that of the poorest 114.6 million, or 99.8% of the adult population.
Real disposable incomes — a closely tracked proxy for living standards — dropped 3.6% during 2020, as the pandemic saw a temporary jump in unemployment and wage cuts for millions across the economy.
Russia’s 500 Super Rich Wealthier Than Poorest 99.8% – Report - The Moscow Times
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