Tech Billionaire Volozh’s Wealth Jumps After Breakup With Russia

Arkady Volozh’s fortune is on the rise, a striking turnaround for the entrepreneur after he was hit by EU sanctions and the Kremlin-managed breakup of his company.

Volozh’s Amsterdam-based Nebius Group NV, which provides cloud computing for AI services, has gained almost 85% since it resumed trading in October. The gains have propelled his family trust’s 13.1% stake in the company to a value of $1.1 billion.

Volozh, once one of Russia’s richest men, is rebounding from a turbulent period during which he led Yandex, the local equivalent of Google. After the invasion of Ukraine, Nasdaq suspended trading ...