Wednesday, September 3, 2008

The Minigarchs: Over 100 Russian Kids to Each Inherit $1 Billion or More

For the first time in Russia's history, over 100 youngsters stand to inherit more than $1 billion from the country's burgeoning ranks of oligarchs.

An annual listing produced by the weekly business magazine Finans shows that the number of heirs with a claim to billion-dollar fortunes has risen from 70 to 112 in the past year.

The wealth of Russia's minigarchs is protected by legislative reform three years ago that abolished inheritance tax.

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