Forbes has compiled a list of the richest families in Russia.

Accordingly, Gutseriyev family ranked first with a fortune of $5.97 billion, leaving being Rotenberg family with $4.85 billion. The third place was taken by the founder, CEO, and chair of IPG Photonics Valentin Gapontsev and his son Denis with a fortune of  $3.14 billion.

Sarkisov brothers- Sergei and Nikolai Sarkisov- ranked sixth with a fortune of $750 million each.

Sergei Sarkisov got his start at the Soviet state insurance firm Ingosstrakh. In 1991 he founded his own insurer, RESO-Garantiya where he serves as chairman of the board. His billionaire brother Nikolai oversees the firm's largest clients.

Nikolai Sarkisov, the younger brother of billionaire Sergei Sarkisov, oversees the largest clients at Sergei's insurance company, RESO-Garantiya. The brothers own 63% of the company, while French insurer AXA owns the remaining 37%. In 2013 the brothers sold the $50 million (sales) MedSwisse chain of clinics to its management.