World Economic Forum in Davos to be held without Russian tycoons – Bloomberg

According to the publication, Russians have been effectively banished from the capitalist confab because of the full-scale war waged by Russia on Ukraine.

Bloomberg adds that there will be no representatives of China either at the event, as the country is still experiencing a sharp surge in the incidence of COVID-19 and a fall in the stock market, which caused the country's richest people to lose $224 billion in 2022.

However, the forum is expected to attract more businessmen from the Gulf, a region that is increasing its profits thanks to rising oil prices and a reputation for relative stability.

The largest group will traditionally be billionaires from the United States. Thirty-three American businessmen are expected to appear in Davos.

Despite the proximity to the Swiss ski resort, there will be only 18 billionaires from Europe this year.