Rapid growth of Russian millionaires
More than 136 000 Russians are dollar millionaires and the number just keeps growing. The number of rich Russians grew with 14 percent last year and today half of Europe’s millionaires are Russian citizens.
According to RussiaToday, the growth rate of Russian millionaires is twice the rate of the global average. It is the financial group Merrill Lynch which has developed the numbers. The Russian growth is fuelled by increased market capitalisation, rising direct foreign investment, strong consumer demand and soaring energy prices.
However, the wealth seems to be controlled by a very little part of the Russian population. Alexander Kochubey from Renaissance Capital has estimated that less than one percent of the population controls over 80 percent of all values in the country. In spite of the rapid growth, Russia is far from the fastes growing economy in the world. Growth in India and China remains higher.
