Aug
12
Russia’s Richest Lose $3.1 Billion as Tax Proposal Hits Shares
By-
Steel tycoon Vladimir Lisin sees biggest drop in wealth
- Tax plan would largely affect metal and mining companies
Russia’s super-rich tycoons lost more than $3 billion in one day after a top economic aide to the president proposed raising taxes on the nation’s giant metal and mining companies.
In a letter to Vladimir Putin, adviser Andrey Belousov named 14 companies that could pay more. The resulting investor exodus saw $3.1 billion wiped off the fortunes of their affluent bosses, according to the Bloomberg Billionaires Index…
Russia’s Richest Lose $3.1 Billion as Tax Proposal Hits Shares
