Friday, December 9, 2022

Viktor Vekselberg is 40 million poorer

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For the average person, 40 million francs is a pretty big chunk of money. For Viktor Vekselberg (65) they are peanuts. The US business magazine “Forbes” estimates the fortune of the Russian oligarch, who lives in Switzerland, at more than five billion. Other estimates even assume up to eight billion Swiss francs.

But back to the 40 million: That’s how much Vekselberg has lost with its holdings in Swiss companies since the outbreak of the Ukraine war, according to a calculation by the Handelszeitung. He holds large blocks of shares in the two industrial companies Sulzer and Oerlikon. The two companies are now worth one percent less on the stock exchange than when the war broke out. A book loss of 20 million for Vekselberg – negligible.

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