Russian-Armenian beats U.S.-Armenian on latest Forbes billionaire list

Russian-Armenian beats U.S.-Armenian on latest Forbes billionaire list

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Russia-based Armenian billionaire Samvel Karapetyan has “beaten” U.S.-Armenian Kirk Kerkorian by the estimated size of his fortune, becoming the richest ethnic Armenian on the latest Forbes list.

The Forbes magazine estimates Karapetyan’s net wealth at $3.8 billion. The magazine’s estimates suggest that the 47-year-old owner of Tashir Group has increased his assets by $2.2 billion since 2012.

The magazine describes Karapetyan as a businessman who made big acquisitions during the financial crisis and now owns seven business centers and seven hotels. Forbes says further that his companies operate in 25 regions of Russia but have recently focused on new projects in the Moscow area.

Forbes estimates that Kerkorian’s net wealth at $3.3 billion. This is the same amount that the magazine reported for the 95-year-old magnate in 2012.

Other prominent Armenians billionaires in this year’s Forbes ranking include the Russian Armenian businessman, Danil Khachaturov, who is the main shareholder of the insurance giant Rosgosstrakh, and the Sarkisov brothers, Sergey and Nikolay, who share equal assets ($1.35 billion) as shareholders of the insurance company, RESO-Garantiya.

Mexican billionaire Carlos Slim, with an estimated fortune of $73 billion, is the world’s top billionaire in this year’s ranking that includes as many as 1,426 names.