The Return of the Russian Billionaires
After getting crushed by falling commodity prices two years ago, their ranks cut by 70 percent, Russian billionaires are back and more plentiful than ever. According to a recent study, Russia currently has 114 billionaires, more than the 101 it had in 2007. Bolstered by a 20 percent rise in the Russian stock market in 2010, and insatiable demand from China, Russian oligarchs are again flush. The latest evidence: Russian tech billionaire investor Yuri Milner just paid $100 million for a house in Silicon Valley, thought to be the most paid for a house in the U.S. ever.