Forbes. World’s richest Armenians

US-Armenian eminent billionaire Kirk Kerkorian no longer tops the list of the world’s richest Armenians.

The Forbes magazine’s latest billionaire list has placed Russia-based Armenian businessman Samvel Karapetyan as the world’s richest Armenian. His estimated net wealth is $38 billion instead of the $1.6 billion recorded last year. The magazine’s estimates suggest that the 47-year-old owner of Tashir Group has increased his assets by $2.2. since 2012.

It is noteworthy that Karapetyan’s assets top Armenia’s 2013 budget which is about $2.5 billion.

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.

As for Kerkorian, Forbes has estimated his net wealth at $3.3 bn, seeing no changes since 2012. The magazine notes that he managed to get engaged and break off twice within a year. According to Forbes, the casino magnate began his career in Las Vegas in 1962. “He opened the original MGM hotel and casino after picking up the movie studio in 1969. Kerkorian stepped down as its chairman in 2011 to become the first director emeritus, and has since sold at least three-quarters of a billion worth of stock. These days Kerkorian heads Tracinda, his privately owned investment firm, and the Lincy Foundation, originally founded to aid victims of the 1989 Armenian earthquake; both organizations are named after his two daughters, Tracy and Linda,” says the magazine.

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 bn) as shareholders of the insurance company, RESO-Garantiya.

Forbes has found no Armenian billionaires based in their home country. Only 107 of the billionaires are residents of ex-Soviet countries, with Georgian Prime Minister Bidzina Ivanishvili (estimated fortune: $5.3 bn) being one of them.

Mexican billionaire Carlos Slim, with an estimated fortune of $73bn. is the world’s top billionaire in this year’s ranking. Microsoft owner Bill Gate’s ($67bn), Spain's Amancio Ortega ($57bn) and Warren Buffet are also in the top 10 list.