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Ukraine War Update: Russia Got Richer While West Shed Trillions of Dollars – US Lost $5.9 Trillion

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Russians got richer last year during the War in Ukraine. The West shed trillions with the US leading the way losing $5.9 trillion under Joe Biden.

MORE – The US lost more wealth than any other country last year, shedding $5.9 trillion, while North America and Europe combined got $10.9 trillion poorer.https://t.co/Q25EFnbs4f

The Business Insider reported:

Russians got richer last year even as the war in Ukraine raged on, while the US and Europe lost trillions of dollars, UBS reported.

Russia added $600 billion of total wealth, the Swiss bank found in its annual Global Wealth Report, published Tuesday.

The number of Russian millionaires also rose by about 56,000 to 408,000 in 2022, while the number of ultra-high-net-worth individuals — people worth over $50 million — jumped by nearly 4,500.

But the US lost more wealth than any other country last year, shedding $5.9 trillion, while North America and Europe combined got $10.9 trillion poorer, UBS reported.

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