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The Return of the Russian Billionaires

Photo: Creatas Images

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.