Approximately 45,000 Russians are earning more than one million rubles monthly
Rise in High-Income Earners and Concentration of Wealth in Russia
A new study reveals a significant increase in the number of Russians earning over one million rubles per month, with the tally of billionaires rising from 100 to 146 in just one year [1][2]. This growth was observed between 2023 and 2025, despite average income growth being modest and uneven.
The study, which involved 28.4 million people from 95,400 organizations (excluding small businesses), found that the sectors with the most millionaires in Russia are those connected with senior officials, legislators, and their entourages, as well as oligarchs and business elites [1][4]. The information and communications sector has the most Russian millionaires, with 9,900 people, followed by trade with 6,700 people, and financial and insurance companies with 6,200 people [1].
The data reflect a concentration of wealth in political and business circles rather than broad-based wage increases. While average monthly wages around 97,000 rubles (~$1,240) may suggest a more even distribution, high inequality remains [1][2]. Many ordinary workers, including contract soldiers and truck drivers, may receive bonuses or hazard pay that temporarily boost earnings, but these often come with significant personal costs and long hours [1][2].
The study also found that 5,728 people in the survey earned between 2 to 3 million rubles, and 5,301 people earned over 3 million rubles [1]. Moreover, 40% of the surveyed company leaders reported an increase of between 8-10% in top managers' incomes, while a third saw an increase of over 15% [1].
Interestingly, Russian employers' debts to employees reached 1.6623 billion rubles in May, with nearly half (46.8%) attributed to the construction sector [1].
By early 2025, a study by RIA Novosti analyzed Rosstat data and found that over 45,000 Russians had a monthly salary exceeding one million rubles [2]. Out of these, 34,399 earned between 1 to 2 million rubles, and the number of people with a monthly salary above 1 million rubles has increased to 45,428 [2]. The share of Russians earning over 1 million rubles was 0.16% of the total workforce, up from 0.08% in 2023 [2].
In conclusion, the study indicates a notable increase in the number of Russians earning over one million rubles per month, with wealth and millionaires mostly concentrated among political elites, officials, and major business owners. While average wages grew modestly, high inequality remains, and many workers do not enjoy millionaire-level incomes despite some high hazard pay or bonuses.
Investors and businesses might find it intriguing that the sectors with the most millionaires in Russia are predominantly occupied by senior officials, legislators, oligarchs, and business elites, according to the study. Moreover, the financial and insurance sectors are among those with a significant number of Russian millionaires.
