Another Russian Billionaire

The fortune of the 35-year-old Russian entrepreneur Nikolai Storonsky has exceeded $1.6 billion, Izvestia reports. This happened after another investment in Revolut company, which is now valued at $6 billion.

Яценко и Сторонский с командой Revolut
Yatsenko, Storonsky and the Revolut team

In 2015, Storonsky, together with Ukrainian businessman Vlad Yatsenko, founded Revolut in the UK . The Russian citizen owns 30% of the company, engaged in the development of currency conversion applications.

In April 2018, the company was valued at $1.7 billion. At that time, Storonsky’s fortune was valued at $500 million.

Nikolai Storonsky is the son of Nikolai Mironovich Storonsky – since December 2019, Director General of JSC Gazprom Promgaz. In addition to the Russian citizenship, Nikolai has a UK passport.

The children of officials and top managers of state-owned companies keep showing unique achievements in business, especially in the banking sector.

The son of the Head of the Federation Council Valentina Matvienko, Sergey Matvienko, is a dollar billionaire.

The son of the director of the Federal Security Service of the Russian Federation Alexander Bortnikov, Denis Bortnikov, is the head of the North-West Regional Center of VTB Bank and a member of the board of the association “Leningrad Regional Chamber of Commerce and Industry”.

The son of the special representative of the President of the Russian Federation on environmental issues, ecology and transport Sergey Ivanov, also Sergey Ivanov, is the president of ALROSA (and formerly the top manager of Sberbank, Sogaz, Gazprombank).

And these are just a few examples of the “successful children”.

While wage arrears to workers in Russia are increasing, the number of “particularly successful” people is growing, too, and this is not surprising. After all, the income growth of the owners of the means of production is based on a decrease in the income of those who work for them.

No “cosmetic measures” will help achieve justice in the distribution of profits: neither the introduction of a luxury tax, nor the calls for “greater social responsibility of the business”. Until the main contradiction of capitalism — the social form of production and the private appropriation of the results of labor — has been resolved, the rich will get richer, and the poor will get poorer. And to resolve this contradiction is only possible by destroying the very institution of human exploitation by man, by destroying the capitalist mode of production.

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