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Small Business Owner Lands $1 Billion Prize After Russia Business Exodus

Entrepreneur Alexey Sagal has had possibly the most successful year and a half of his career, with his Arnest Group becoming one of the top beneficiaries of the exodus of international businesses from Russia following President Vladimir Putin’s invasion of Ukraine.

Arnest’s newly acquired assets are worth about $1 billion, according to a Bloomberg Billionaires Index estimate. While the flurry of deal-making hasn’t yet made Sagal, 56, a billionaire, it has rocketed his group into the upper echelons of the Russian business world.

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