History: Then And Now, Moscow, Russia

In 2008, Moscow had 74 billionaires with average wealth of $5.9 billion, which placed it above New York's 71 billionaires. However, in 2009, there are only 27 billionaires in Moscow compared with New York's 55 billionaires. Overall, Russia lost 52 billionaires during the recession List of Russian billionaires by net worth. Topping the list of Russia's billionaires in 2009 is Mikhail Prokhorov with $9,5 billion, ahead of the more famous Roman Abramovich with $8.5 billion, in 2nd place. Prokhorov's holding company, "ОНЭКСИМ" group, owns huge assets in hidrogenium energy, nanotechnology, traditional energy, precious metals sector, while Abramovich, since selling his oil company Sibneft to Russian state-controlled gas giant Gazprom in 2005, has bought up steel and mining assets. He also owns Chelsea F.C.. Russia's richest woman remains Yelena Baturina, the 45-year-old second wife of Moscow Mayor Yuri Luzhkov. Oleg Deripaska, the 1st of this list in 2008 with $28 billion, in 2009 is only 10th with $3.5 billion.
The nouveau riche, also called the "New Russians", often pejoratively, have a reputation for flaunting their wealth; the avenues for doing so, and subtly, have also increased in recent times — a sense of fashion and self-consciousness has instilled itself through the many haute couture and haute cuisine spots in Moscow.