Russia got richer even as the war in Ukraine raged on last year, while the West shed trillions of dollars of wealth

• Russia added $600 billion of total wealth last year, a report by UBS indicated.
• The number of millionaires and ultra-high-net-worth individuals also rose, despite the war in Ukraine raging on.
• Meanwhile, the US and Europe shed trillions of dollars worth of wealth, the Swiss bank reported.

Russians got richer in 2022 even as the war in Ukraine raged on, while the US and Europe lost trillions of dollars, according to UBS.

Russia added $600 billion of total wealth, the Swiss bank found in its annual Global Wealth Report, published on August 15.