Russia Loses Half of Its Billionaires

Record purchase for pad Ekaterina Rybolovleva will use only when 'visiting'

(NEWSER) - And you thought Suri Cruise was spoiled . A 22-year-old Russian heiress is treating herself to a Manhattan pad at a whopping cost of $88 million—and she only plans to use it when she's visiting New York. Ekaterina Rybolovleva, daughter of Russian billionaire Dmitry Rybolovlev, is scooping up the nearly 7,000-square-foot digs at 15 Central Park West (at 61st Street) sold by filthy rich former Citigroup Chairman Sandy Weill, who promised to turn over the proceeds from the 10-room apartment sale to charity. It's the largest individual residential real estate transaction in New York City history, reports ABC News . The property was put up for sale just last month. More»

With stocks off big, bank chief warns of lack of liquidity

(NEWSER) - The Russian economy is skidding, and its leaders are giving somewhat contradictory messages, the AP reports. Shortly after President Dmitry Medvedev assured the public today that stock-market troubles don’t “reflect the actual state of the economy,” the chairman of the country’s central bank said “as far as liquidity is concerned, there is some shortfall in the banking sector.” More»

(NEWSER) - Stocks managed to hold on to small gains today from a big early rally, as oil prices fell despite the fighting in Georgia, MarketWatch reports. The Dow closed up 48.03 points at 11,782.35. The Nasdaq gained 25.85 points to 2,439.95, and the S&P 500 climbed 9 points to 1,305.32. More»

He's worth $62B; Gates is now third with $58B.

(NEWSER) - Bill Gates has passed the gilded torch: Warren Buffett and Mexican telecom mogul Carlos Slim have ended the Microsoft founder's 13-year reign as richest man on earth, Forbes reports. Buffett's fortune grew $10 billion this year to $62 billion, while Slim weighs in with an estimated $60 billion. Gates trails with a piddling $58 billion. More»

For mainly Jewish oligarchs, wealth and power has given way to prison and exile

(NEWSER) - A cadre of 50 or so Russian businessmen struck it rich when the USSR's state-owned industries went up for grabs. But most of these billionaire oligarchs are now in prison or have fled, hounded and hectored by the KGB-style tactics of president Putin. The Guardian profiles 7 deposed plutocrats, who've made their bones in oil, aluminum and everything in between. More»