Business Services Industry
RUSSIA: 'FORBES' BILLIONAIRES SAY THEY'RE NOT THAT RICH...
IPR Strategic Business Information Database, May, 2004
Many of the businessmen whose names appeared in the "Forbes Russia" list of the country's 100 richest people have said the estimations of their wealth are inaccurate, "Vedomosti" reported on 13 May. LUKoil Vice President Leonid Fedun, who is reportedly worth $1.7 billion, told "Vedomosti" that the estimation, published on 13 May, is "purely virtual." The former senior managers of Gazprom, Rem Vyakherev ($1.3 billion) and Vyacheslav Sheremet ($1.2 billion), said that their fortunes are much smaller as they were forced to sell their shares for a below-market price. Aleksei Firsov, a spokesman for Sibneft, said that the "Forbes Russia" rating has "lost connection with reality." He added that the "figures are highly speculative and the method of calculation is vague."...
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