A Review of the Nigerian Energy Industry

Russian oil moguls dominate Forbes’ rich list

Mukesh Ambani, Chairman, Reliance Industries
Mukesh Ambani, the Indian oil & petrochemicals stalwart is No.40 in the Forbes’ list

03 March 2014, News Wires – Russian oil oligarchs led the line for industry players in the latest list of the world’s richest people published by Forbes, which reckons Brazilian entrepreneur is no longer a billionaire.

Oil and gas moguls were largely absent from the top 40 or so names on the list, which also saw Microsoft whizz Bill Gates regain his crown as the world’s richest person.

No oil tycoons could keep pace with Gates’ $76 billion estimated worth, enough to edge Mexican telecommunications bigwig and rival for top spot, Carlos Slim, into second place on $72 billion.

Retail hotshot Amancio Ortega dressed to impress in third spot with $64 billion, ahead of investment guru Warren Buffett on $58.2 billion and the Koch brother, Charles and David, in joint sixth spot with $40 billion apiece.

Reliance Industries chairman Mukesh Ambani grabbed number 40, the Indian oil and petrochemicals stalwart raking in a cool $18.6 billion. But from then on, it was largely left to the Russians to fly the industry flag.

Mikhail Fridman was at number 47 with $17.6 billion, with Viktor Vekselburg at 51 on $17.2 billion and Leonid Mikhelson at 57 on $15.6 billion. Gunvor hotshot Gennady Timchenko scooped $15.3 billion to share 61 spot with Svenska Petroleum owner and Saudi-Ethiopian businessman, Mohamad al Amoudi.

US gas baron Harold Hamm came in at 68 with $14.6 billion, a cool $1 billion and six positions ahead of Lukoil’s Vagit Alekperov and Seadrill owner and shipping magnate, John Fredriksen.

Russian German Khan rounded out the top 100 with $11.3 billion with compatriot and Chelsea football club owner Roman Abramovich at 137 on $9.1 billion.

Isabel dos Santos, daughter of the Angolan president and rumoured to have a sizeable stake in state player Sonangol, made number 408 on $3.7 billion, while Nigerian oil and fashion mogul Folorunsho Alakija’s $2.5 billion landed her the number 687 spot.

It was a poor year for Batista, however: with the list ending with those on a meagre $1 billion, the beleaguered Brazilian shipyard, oil and logistics personality was nowhere to be seen.


– Upstream

In this article

Join the Conversation