Vladimir Putin
  • In this Thursday, Oct. 14, 2010 file photo, then, Russian Prime Minister Vladimir Putin, second right, Formula One chief Bernie Ecclestone, second left, and Oleg Deripaska, toast after a signing ceremony in the Black Sea resort of Sochi, southern Russia. Oleg Deripaska's Basic Element, insists its projects were all designed to be profitable. The company is building an Olympic village and a seaport and has just finished revamping the Sochi airport, for a combined cost of $1.4 billion.

    Most of the projects the tycoons are involved in are not profitable — and many businessmen are making no secret of the losses they are incurring.

    LAST UPDATE : May 20, 2013, 10:33 AM EDT
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