MOSCOW, February 18 (RIA Novosti) - Russian metals tycoon Oleg Deripaska has seized the title of Russia's richest man from Chelsea owner Roman Abramovich, one of the 50th wealthiest men in the world, the Finance magazine reported.

The new ranking published by the magazine on Monday showed that Kremlin-friendly Deripaska, 40, the sole owner of Russia's industrial holding Basic Element (BasEl), nearly doubled his fortune in 2007 to an estimated $40 billion.

Russia's aluminum giant UC RusAl, controlled by Deripaska's BasEl, became the world's largest aluminum producer after a merger between RusAl, Sual, a Russian rival, and Swiss Glencore's alumina assets last March.

Russia's Chukotka governor Abramovich, 42, who mostly resides in London, was beaten into second place with an estimated $23 billion.

Vladimir Lisin, the owner of Novolipetsk Steel (NLMK) came third in Russia's billionaire race with a $22.2 billion fortune.

The magazine also said the number of billionaires worldwide has increased four-fold, with Russians now joining the list of the world's richest people.