A former coal mine mechanic, steel magnate Mr. Lisin was one of a handful of clever entrepreneurs who managed to privatize the former Soviet metallurgical industry in their personal favor during the turbulent and lawless 1990s. By sticking to business and staying out of politics, Lisin managed to avoid the fate of fellow "oligarchs" like oil tycoon Mikhail Khodorkovsky. Mr. Khodorkovsky defied the Kremlin, was arrested in 2003, and was recently sentenced to another six years in a Siberian penal colony. Lisin's main source of wealth comes from his ownership of the Novolipetsk steel mill, one of the world's largest, whose shares have been skyrocketing lately on the Moscow stock exchange. He retained his No. 1 spot from last year's list.
ZUMA Press/Newscom
