Russia ranks sixth in the world in terms of the number of billionaires, according to a report on state-run TV channel Vesti.

Ranking just above Hong Kong and just below India, Russia is home to 97 billionaires – 17 more than in the previous year – who are worth a collective $380 billion, the report said.

Russia’s billionaires now represent more than 60 percent of the country’s entire wealth.

Despite ongoing global economic hardship, the world's billionaires saw their worth increase by 14 percent, or $760 billion, to $6.19 trillion, according to the report.