The number of wealthy Russians investing in the U.S. has ballooned this year (more than doubled since last year ) as geopolitical turmoil and a disintegrating ruble have spurred Russians to seek havens for their wealth abroad. The best place right now: the U.S.
The Russian rush for the exit comes as the embattled country’s citizens have been seeking to preserve their wealth amid a cratering ruble. The dollar USDRUB, -0.01% has been hitting all-time highs against the Russian currency.
And while Manhattan real estate
remains one of the most popular investments for wealthy Russians, they’re also investing in private businesses and buying real estate in far-flung locals, according to several individuals who help facilitate investments for Russian clients.