Vagit Alekperov, the billionaire oligarch and chairman of Russian energy giant Lukoil, was hit hardest. He lost nearly a third of his on-paper fortune when his net worth declined more than $6 billion during Russia’s economic turmoil, according to the Bloomberg stock news.
Big car companies like Maruti Suzuki (Maruti Suzuki offers), Tata Motors (Tata motors offers), Hyundai (Hyundai car offers) and Toyota (Toyota car offers) have also joined. The old stocks of these companies are being emptied. Customers are being given offers like cash discounts to exchange bonuses on these cars.