Forbes: the Number of dollar millionaires in Russia has decreased due to the crisis caused by the pandemic

Russia could become 10-15% less dollar millionaires because of the crisis caused by the pandemic COVID-19. This writes Forbes, citing expert evaluations “Renaissance Capital” and Knight Frank. Credit Suisse has estimated that at the end of 2019 in Russia was 246 thousand dollar millionaires, of which 3 thousand with assets of more than $50 million. However, 15% of millionaires (about 37 thousand people), this status could be lost, says the head of a direction on work with private clients “the Renaissance the Capital” Grigory Sedov. Managing partner Night Frank Russia Alexey Novikov with his hand adds that such status could lose 10% of millionaires, but this “subjective assessment”. According to Sedova, the causes of the losses could be the revaluation rate if the asset was in the ruble zone, and impairment of the value of the business, said Sedov. According to Novikov, the money millionaires can lose on real estate.

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