From oil and gas to batteries, here are the world's 10 richest energy billionaires

The coronavirus pandemic and the price war between Russia and Saudi Arabia are dealing a double blow to the fortunes of top energy billionaires.

^CBetween an oil price war and a massive economic shutdown caused by the coronavirus, the world's energy billionaires took a big hit in 2020.

The world's 10 richest energy billionaires, whose wealth comes from fossil fuels, renewable energy and utilities, are collectively $41.2 billion poorer than they were in 2019. Of the 2,095 members of the 2020 World Rich List, only 80 have derived their wealth. Wealth from energy decreased from 84 in 2019 and 90 in 2018.

The collapse in oil prices began in early March after Russia rejected OPEC's agreement to cut production in response to the coronavirus crisis. Saudi Arabia then increased production, Russia followed suit, and the world's two major oil price benchmarks, Brent and WTI, fell by 50% in the same month. Hydraulic fracturing company stocks have taken a huge hit, wiping billions of dollars from the fortunes of U.S. shale billionaires. harold hamits continental resources

CLR
's stock price plummeted nearly 50% in the first two weeks of March. Hamm, the world's seventh-richest energy billionaire as of 2019, has lost $10.3 billion, more than 80% of his net worth, in the past year.

Another drop from the top 10 in 2019. Leonid FedunThe right-hand man of the Lukoil billionaire. Vagit AlekperovFedun suffered a loss of $2.4 billion as the Russian oil company's stock price fell more than 30% over the past year.China replaces Ham and Fedun in the top 10. robin zen and hong kong michael cudley. Zeng, chairman of Contemporary Amperex Technology (CATL), one of the world's largest suppliers of electric vehicle batteries, is the only member of the top 10 to become rich in the past year. Net worth increased by $2.9 billion to $9.7 billion.

Russian Seven out of the top 10 in the energy sector, with natural gas kings taking the top spot Leonid Mikkelson 2nd place.Richest energy billionaire remains Indian Mukesh AmbaniHe runs the oil and gas conglomerate Reliance Industries. Oil remains king among the world's richest energy billionaires, with fossil fuels contributing to the wealth of six out of the top 10 people and making it the most common source of wealth.

Here are the top 10 richest energy billionaires in the world: Net assets are as of March 18, 2020.

Mukesh Ambani

net worth: 36.8 billion dollars

Country: India

Source of wealth: petrochemical, oil and gas

The world's richest energy billionaire — and the world's 21st richest person — ambani He runs Reliance Industries from his home in Mumbai, India. Reliance started as a textile manufacturer founded by Ambani's father in 1966. This vast conglomerate currently owns petrochemical, refining, and retail interests.

Leonid Mikkelson

Net worth: $17.1 billion

Country: Russia

Source of wealth: gas, chemicals

Founder and Chairman of Novatec, a major natural gas company. Mickelson It also controls almost half of the petrochemical manufacturer's shares.

NIHD-USA
Sibur Holding. Novatec's stock price has fallen about 37% over the past year, contributing to a $6.9 billion decline in Mickelson's net worth.

Vagit Alekperov

Net worth: $15.2 billion

Country: Russia

Source of wealth: oil

Alekperov He started his career as a laborer on an oil rig in the Caspian Sea, and in 1991 founded Lukoil, now Russia's largest independent oil producer. He still owns about a quarter of the company, but its stock price has fallen 30% in the past year. , cost Alekperov $5.5 billion.

Gennady Timchenko

Net worth: $14.4 billion

Country: Russia

Source of wealth: oil gas

Timchenko It has been under US sanctions since 2014. explained He was appointed by the U.S. Treasury Department as a member of President Vladimir Putin's “inner inner circle.” His activities in the energy industry were linked to the Russian president. Timchenko's assets include shares in gas producer Novatek and petrochemical company Sibur Holding, with which he is affiliated. Leonid Mikkelson.

mikhail friedman

Net worth: $13 billion

Country: Russia

Source of wealth: oil, banking, communications

friedman Together with his university friends, he controls the conglomerates Alpha Group and Letter One. german khan and Alexei Kuzmichev. The three liquidated oil company TNK-BP, one of its most valuable oil and gas assets, in 2013, selling its shares for a combined $14 billion.

Andrei Melnichenko

Net worth: $12.5 billion

Country: Russia

Source of wealth: coal, fertilizer

Andrei Melnichenko's business empire includes fertilizer maker Eurochem and a majority stake in SUEK, Russia's largest coal producer, which operates seven mines in Siberia and Russia's Far East.

Victor Vekselberg

Net worth: $10.5 billion

Country: Russia

Source of wealth: metal, energy

Vekselberg He derives his fortune from aluminum smelting company UC Rusal, but part of his net worth comes from past investments in the oil industry. In 2013, he sold his stake in oil company TNK-BP, in which he was a partner. mikhail fridman and a London-based billionaire Len Blavatnik — to Russian state Rosneft for $7 billion.

robin zen

Net worth: $9.7 billion

Country: China

Source of wealth: battery

soBased in the southeastern Chinese city of Ningde, he is among the top 10 richest energy billionaires thanks to the phenomenal growth of his publicly traded battery maker Contemporary Amperex Technology. The Shanghai-listed company's stock price has risen nearly 50% over the past year, increasing Zeng's net worth by $2.9 billion.

german khan

Net worth: $8.5 billion

Country: Russia

Source of wealth: oil, banking, communications

He has dual citizenship of Russia and Israel. clan chief control the investment company

M.O.
Alpha Group and Billionaire Friends Alexei Kuzmichev and mikhail fridman. The three became friends at university and also own assets in telecommunications and banking.

michael cudley

Net worth: $7.3 billion

Country: Hong Kong

Source of wealth: hotel, energy

michael cudley Chairman of CLP Holdings, a listed public utility company

CPRI
It provides electricity to 80% of Hong Kong's population. The family-owned company, co-founded by the Kadouri family in 1901, has seen its share price fall almost 19% over the past year as Hong Kong's economy felt the effects of prolonged anti-government protests.