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Encyclopedia > Business oligarch

Business oligarch is a near-synonym of the term "business magnate". The choice of the word oligarch denotes the significant influence such wealthy individuals may have on the life of a nation. However, in modern Russia it is very common to apply this term to any business tycoon, regardless of whether or not he has real political power.[1] The term came into wide circulation after the collapse of the Soviet Union, in reference to those individuals who acquired tremendous wealth in some post-Soviet republics. For a wealthy or powerful Polish or Hungarian nobleman, see Magnate. ... Forms of government Part of the Politics series Politics Portal This box:      Oligarchy (Greek , Oligarkhía) is a form of government where political power effectively rests with a small, elite segment of society (whether distinguished by wealth, family or military prowess). ... The rise of Gorbachev Although reform stalled between 1964–1982, the generational shift gave new momentum for reform. ...

Contents

Russia

A number of prominent oligarchs, including Mikhail Khodorkovsky (far right), pictured with Boris Yeltsin in the mid-1990s

The Russian oligarchs are business entrepreneurs who started under Gorbachev during his period of market liberalization. Rare goods, such as PCs and jeans, were smuggled into the country and sold on the black market for a hefty profit, an unforeseen consequence of partial market liberalization with still excessive trade restrictions. In the 1990s, the oligarchs emerged as well connected entrepreneurs who started from nearly nothing and got rich through participation in the market via connections to the corrupt, but democratically elected, government of Russia during the state's transition to a market-based economy. This work is copyrighted. ... This work is copyrighted. ... The quality of this article or section may be compromised by peacock terms. You can help Wikipedia by removing peacock terms. ... Boris Nikolayevich Yeltsin (Russian: ) (February 1, 1931 – April 23, 2007[1]) was the first president of the Russian Federation, serving from 1991 to 1999. ... Mikhail Sergeyevich Gorbachev (Russian: ; Pronunciation: mih-kha-ILL ser-GHE-ye-vich gor-bah-CHOFF) (born March 2, 1931), was leader of the Soviet Union from 1985 until 1991. ... Blue Jeans Jeans are pants traditionally made from denim, but may also be made from a variety of fabrics including corduroy. ...


Post-Soviet business oligarchs includes relatives or close associates of government officials, even government officials themselves as well as criminal bosses who achieved vast wealth by acquiring state assets very cheaply (or for free) during the privatization process controlled by the Yeltsin government. Specific accusations of corruption are often levelled at Anatoly Chubais and Yegor Gaidar, two of the 'Young Reformers' chiefly responsible for 'shock therapy' privatization in the early 1990's. According to David Satter, author of Darkness at Dawn, "what drove the process was not the determination to create a system based on universal values but rather the will to introduce a system of private ownership, which, in the absence of law, opened the way for the criminal pursuit of money and power." In some cases, outright criminal groups in order to avoid attention assign front men to serve as executives and/or 'legal' owners of the companies they control. Boris Nikolayevich Yeltsin (Russian: ) (February 1, 1931 – April 23, 2007[1]) was the first president of the Russian Federation, serving from 1991 to 1999. ... This article or section does not adequately cite its references or sources. ... Yegor Timurovich Gaidar () (born March 19, 1956) is a Russian economist and politician, and was the acting Prime Minister of Russia from June 15, 1992 to December 14, 1992. ... In economics, shock therapy refers to the sudden release of price and currency controls, withdrawal of state subsidies, and immediate trade liberalization within a country. ... This article does not adequately cite its references or sources. ...


Although the majority of oligarchs were not formally related with the communist party of the Soviet Union, there are allegations[citation needed] that they were promoted (at least initially) by the communist apparatchiks, with strong connections to soviet power structures and access to the monetary funds of the communist party. In official media, oligarchs are usually pictured as the enemies of "communist forces". The latter is a stereotype that describes political power that wants to restore Soviet-style communism in Russia. In modern usage, the term communist party is generally used to identify any political party which has adopted communist ideology. ... In modern usage, the term communist party is generally used to identify any political party which has adopted communist ideology. ... For the 1996 Blur single, see Stereotypes (song). ...


During Yeltsin's presidency, oligarchs became increasingly influential in politics and played a significant role in financing the re-election of Yeltsin in 1996. With the insider information about financial decisions of the government, oligarchs could easily increase their wealth even further. The 1998 Russian financial crisis hit some of the oligarchs hard, however, and those whose holdings were based on banking lost much of their fortunes. In the Putin era, the remaining oligarchs have come under fire for various alleged and real illegal activities, particularly the tax evasion in the businesses they acquired. Vladimir Gusinsky (MediaMost) and Boris Berezovsky both escaped justice by running out of Russia, and the most prominent, Mikhail Khodorkovsky (Yukos oil), was arrested in October 2003, and sentenced to 8 years. Year 1996 (MCMXCVI) was a leap year starting on Monday (link will display full 1996 Gregorian calendar). ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ... Inkombank was one of the most high-profile casualties of the events of August 1998. ... Vladimir Vladimirovich Putin (Влади́мир Влади́мирович Пу́тин in Cyrillic lettering) (born October 7, 1952) has been the President of Russia since the year 2000. ... This article contrasts tax evasion, tax avoidance, tax resistance and tax mitigation. ... Vladimir Gusinsky Vladimir Aleksandrovich Gusinsky (Владимир Александрович Гусинский in Russian) (born 1952), a Russian media baron, is known as the founder of Media-Most holding that included Most Bank, the NTV channel, the newspaper Segodnya and magazines. ... Boris Abramovich Berezovsky (Бори́с Абра́мович Березо́вский) a. ... The quality of this article or section may be compromised by peacock terms. You can help Wikipedia by removing peacock terms. ... Yukos Oil Company (ОАО НК ЮКОС) is a petroleum company in Russia which, until recently, was controlled by Russian billionaire Mikhail Khodorkovsky and a number of prominent Russian businessmen. ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... Year 2003 (MMIII) was a common year starting on Wednesday (link displays 2003 calendar) of the Gregorian calendar. ...


Their defenders (often associated with Chubais's party—the Union of Right Forces) argue the companies they acquired were not highly valued at the time because they were still run on Soviet principles, with non-existent stock controls, huge payrolls, no financial reporting and scant regard for profit. They turned the businesses—often vast—around and made them deliver value for shareholders. They obtain little sympathy from the Russian public, though, due to resentment over the economic disparity they represent. Many of the oligarchs are of Jewish descent and some have immigrated to Israel. The Union of Right Forces, or SPS (Сою́з Пра́вых Сил, СПС/Soyuz Pravykh Sil), is a Russian democratic opposition party associated with free market reforms, privatization, and the legacy of the Young Reformers of the 1990s: Anatoly Chubais, Boris Nemtsov, and Yegor Gaidar. ... Soviet redirects here. ...


In 2004, Russian Forbes listed 36 billionaires of Russian citizenship, with an interesting note: "this list includes businessmen of Russian citizenship who acquired the major share of their wealth privately, while not holding a governmental position". In 2005, the number of billionaires dropped to 30, mostly because of the Yukos case, with Khodorkovsky dropping from #1 ($15.2 bln) to #21 ($2.0 bln). Yukos Oil Company (ОАО НК ЮКОС) is a petroleum company in Russia which, until recently, was controlled by Russian billionaire Mikhail Khodorkovsky and a number of prominent Russian businessmen. ...


"Moscow on the Thames"

A significant number of Russian oligarchs have bought homes in an upscale section of London, England, which has been dubbed "Moscow on the Thames".[2] Some, like Boris Berezovsky, are expatriates, having left Russia permanently. Most own homes in both countries, and commute on a regular basis; in many cases their families reside in London, with their children attending school there. Roman Abramovich, considered the wealthiest of the oligarchs, bought the English football club, Chelsea F.C., in 2003, and has spent record amounts on players' salaries.[3] This article is about the capital of England and the United Kingdom. ... This article does not cite its references or sources. ... Roman Arkadyevich Abramovich (IPA: ) (Russian: ) (born 24 October 1966 in Saratov, Russia) is a Russian oil billionaire and the main owner of private investment company Millhouse Capital, referred to as one of the Russian oligarchs. ... Chelsea Football Club (also known as The Blues or previously The Pensioners) are an English professional football club based in west London. ...


List of oligarchs

Russian

From Russian Forbes, May 2005. Wealth in 1,000,000,000 (billion) USD. The United States dollar is the official currency of the United States. ...

  1. Roman Abramovich 18.2 (Роман Абрамович, Millhouse Capital, sold Sibneft Oil)
  2. Vladimir Lisin 7.0 (Владимир Лисин, Novolipetsk Steel)
  3. Viktor Vekselberg 6.1 (Виктор Вексельберг, Renova Group)
  4. Oleg Deripaska 5.8 (Олег Дерипаска, Rusal aluminium)
  5. Mikhail Fridman 5.8 (Alfa Group)
  6. Vladimir Yevtushenkov 5.1 (Владимир Евтушенков, Sistema telecommunications, finance, real estate)
  7. Alexei Mordashov 5.1 (Алексей Мордашов, Severstal ferrous metallurgy)
  8. Vladimir Potanin 4.7 (Владимир Потанин, Interros)
  9. Mikhail Prokhorov 4.7 (Михаил Прохоров, Interros)
  10. Vagit Alekperov 4.1 (Вагит Алекперов, LUKoil petroleum)
  11. Viktor Rashnikov 3.6 (Виктор Рашников, ferrous metallurgy)
  12. German Khan 3.5 (Герман Хан, petroleum, finances, telecom)
  13. Boris Ivanishvili 3.0 (Борис Иванишвили, metallurgy, finances)
  14. Alexander Abramov 2.9 (Александр Абрамов, Evraz Group steel)
  15. Aleksei Kuzmichev 2.7 (Алексей Кузьмичев, petroleum, finances, telecom)
  16. Suleiman Kerimov 2.6 (Сулейман Керимов, investor)
  17. Vladimir Bogdanov 2.3 (Владимир Богданов, petroleum (Surgutneftegaz))
  18. Iskander Makhmudov 2.2 (Искандер Махмудов, non-ferrous metallurgy)
  19. Nikolay Tsvetkov 2.2 (Николай Цветков, Uralsib finance)
  20. Alisher Usmanov 2.0 (Алишер Усманов, ferrous metallurgy)
  21. Mikhail Khodorkovsky 2.0 (Михаил Ходорковский, Yukos petroleum)

Roman Arkadyevich Abramovich (IPA: ) (Russian: ) (born 24 October 1966 in Saratov, Russia) is a Russian oil billionaire and the main owner of private investment company Millhouse Capital, referred to as one of the Russian oligarchs. ... Roman Arkadievich Abramovich (English: a bram OH vich)(IPA: ) (Russian: ) (born 24 October 1966 in Saratov, Russia) is a Russian Jewish oil billionaire, main owner of private investment company Millhouse Capital, referred to as one of the Russian tycoons. ... Sibneft (Сибне́фть in Russian) is Russias fifth largest oil producing and refining company. ... Vladimir Lisin (1957-). In 1992 joined up with tough group of traders who called themselves the Trans-World Group; they came to dominate Russias aluminum and steel exports; Lisin managed the factories. ... Novolipetsk Steel, or NLMK, is one of the four largest steel firms in Russia with sales of more than US$4. ... Viktor Feliksovich Vekselberg (Russian: ; born April 14, 1957) is a chairman of Tyumen Oil (TNK), Russias third-largest oil and gas company. ... Renova Group is a large Russian conglomerate with interests in aluminium, oil, energy, telecoms and a variety of other sectors. ... Oleg Deripaska Oleg Deripaska (born 1968) is a Russian billionaire, tycoon, and the Chairman of the Board of RUSAL, a Russian aluminium industry company. ... RUSAL is Russias biggest aluminium producer with a 75% share in the domestic aluminium market. ... Mikhail Fridman (born 26 June 1963) is a Russian businessman. ... The Alfa Group Consortium is one of Russias largest privately owned financial-industrial conglomerates, with interests in oil and gas, commodities trading, commercial and investment banking (Alfa Bank), insurance, retail trade and telecommunications. ... Vladimir Yevtushenkov (Владимир Петрович Евтушенков) born September 25, 1948. ... Sistema is a large Russian holding company, headed by business oligarch Vladimir Yevtushenkov. ... (1966-). Boss of Severstal, Russias second largest steel company. ... Severstal (RTS:CHMF MICEX:CHMF) Russian: Северсталь, Northern Steel) is a Russian company mainly operating in the steel and mining industry, centred in the northern city of Cherepovets. ... Vladimir Potanin (Владимир Потанин in Russian) (born in 1961), is the president and founder of Oneximbank (also Oneksimbank). ... Interros is a Russian conglomerate with large stakes in mining, metals, energy, finance, retail, real estate and other sectors. ... Mikhail Prokhorov (1966-). Interros, a venture with Vladimir Potanin includes metals, engineering, agriculture and media; since 2001 Prokhorov has been chairman of its most valuable holding, metals conglomerate Norilsk Nickel; has a slightly larger stake than his longtime partner. ... Interros is a Russian conglomerate with large stakes in mining, metals, energy, finance, retail, real estate and other sectors. ... Vagit Alekperov Vagit Alekperov (Вагит Юсуфович Алекперов in Russian, Vahid Yusuf oÄŸlu ƏlÉ™kbÉ™rov in Azerbaijani) (born September 1, 1950 in Baku, Azerbaijan) is currently a President of the leading Russian oil company LUKOIL. Vagit Alekperov, rated by Forbes magazine as the 48th richest person worldwide with US $12. ... LUKoil logo. ... Viktor Rashnikov Viktor Rashnikov (born October 13, 1948 in Magnitogorsk) is a Russian businessman and politician. ... German Khan (1962-). When Alfa Group took over oil giant TNK, it was Khan who was chosen to run the operation. ... Alexander Abramov (born 1959) is a former scientist who became an industrial magnate as head of EvrazHolding, Russias largest steel producer. ... Evraz Group (Russian: ) is one of the worlds leading vertically integrated steel production and mining businesses, with operations mainly in Russia. ... Suleiman Kerimov (b. ... Vladimir Bogdanov (Владимир Богданов in Russian) (born in 1951), President of Surgutneftegaz, Russias second largest oil company. ... JSC Surgutneftegaz (MICEX:SNGS RTS:SNGS) is a major oil and gas joint stock company of Russia that united several previously state-owned enterprises with large oil and gas reserves in Western Siberia in 1993 after the collapse of the Soviet Union. ... Iskander Makhmudov(1963) is a Russian businessman. ... Uralsib is a leading Russian financial corporation. ... The quality of this article or section may be compromised by peacock terms. You can help Wikipedia by removing peacock terms. ... Yukos Oil Company (ОАО НК ЮКОС) is a petroleum company in Russia which, until recently, was controlled by Russian billionaire Mikhail Khodorkovsky and a number of prominent Russian businessmen. ... Rustam Tariko (born 1962) is a Russian entrepreneur, being the owner and founder of the Russian Standard brand, which includes the Russian Standard Bank, consumer credit and insurance firms, plus the popular Russian Standard vodka. ... Russian Standard or Russky Standart is a premium brand of Russian vodka owned by entrepreneur Rustam Tarikos Roust Group. ... Boris Abramovich Berezovsky (Бори́с Абра́мович Березо́вский) a. ... Vladimir Gusinsky Vladimir Aleksandrovich Gusinsky (Владимир Александрович Гусинский in Russian) (born 1952), a Russian media baron, is known as the founder of Media-Most holding that included Most Bank, the NTV channel, the newspaper Segodnya and magazines. ... This article or section does not adequately cite its references or sources. ... The Unified Energy System (UES) is Russias state electric power monopoly. ...

Bankers

The wealthiest bankers by their shares in Russian banks:

  • Vladimir Antonov 6-7-7-7
  • Roman Avdeev 21-19-21-15
  • Sergei Bazhanov 10-10-11-11
  • Konstantin Bekov 17-15/16-16/17-19
  • Oleg Deripaska 5-#-#-#
  • Mikhail Fridman #-1-1-1
  • Alexander Gitelson #-#-#-12
  • Andrei Isaev #-#-#-20/21
  • Nikolai Karpenko 9-6-6-6
  • Petr Kellner 4-3-3-3
  • German Khan #-4-4-4
  • Igor Kim 21-9-9-9
  • Sergei Kirilenko 16-14-15-18
  • Vladimir Kogan 7-#-#-#
  • Yuriy Kovalchuk 15-17-18-16
  • Alexei Kuzmichyov #-5-5-5
  • Maxim Lavrentyev 36-19/20-19/20-23/24
  • Andrei Melnichenko 2-#-#-#
  • Anatoly Motylyov 1-2-2-2
  • Dmitry Orlov 11-8-10-8
  • Sergei Popov 3-#-#-#
  • Dmitry Pumpyansky 14-12-12-13
  • Vladimir Romanov 37-19/20-19/20-23/24
  • Andrei Serebrennikov 18-15/16-16/17
  • Alexei Titov 22-18-13-14
  • David Traktovenko 8-#-#-#
  • Mikhail Volkov 20-#-#-#
  • Vladimir Yevtushenkov 12-11-8-10
  • Ilya Yurov 13-13-14-17

(rank as of 1.10.2005 [1] - 1.01.2006 [2] - 1.04.2006 [3] - 1.07.2006 [4]) Vladimir Antonov, Ph. ... Oleg Deripaska Oleg Deripaska (born 1968) is a Russian billionaire, tycoon, and the Chairman of the Board of RUSAL, a Russian aluminium industry company. ... Mikhail Fridman (born 26 June 1963) is a Russian businessman. ... German Khan (1962-). When Alfa Group took over oil giant TNK, it was Khan who was chosen to run the operation. ... Yury Valentinovich Kovalchuk (Russian: Юрий Валентинович Ковальчук, born July 25, 1951, Leningrad, Soviet Union) is a Russian businessman. ... Andrei Melnichenko is a 35 year old, Russian, multi-billionaire. ... Vladimir Romanov, attending a Hearts match. ... Vladimir Yevtushenkov (Владимир Петрович Евтушенков) born September 25, 1948. ...


Ukrainian

Rinat Leonidovich Akhmetov (Ukrainian: ) (born September 21, 1966) is the richest Ukrainian business oligarch with an estimated fortune of $15. ... Viktor Mykhaylovych Pinchuk (Ukrainian: ), one of the Business oligarchs who control post-Communist Ukraine, is the son-in-law of the ex-President Leonid Kuchma. ... Leonid Kuchma Leonid Danylovych Kuchma (Ukrainian: Леонід Данилович Кучма; born August 9, 1938) was the second President of Ukraine from July 19, 1994, to January 23, 2005. ... Yulia Volodymyrivna Tymoshenko[1] (Ukrainian: ) (born 27 November 1960) is a Ukrainian politician and former Prime Minister of Ukraine (from 24 January to 8 September 2005). ... The Prime Minister of Ukraine is appointed by the President and ratified by the Verkhovna Rada (parliament). ... Viktor Andriyovych Yushchenko (Ukrainian:  ) (born February 23, 1954) is the current President of Ukraine. ... Lazarenko, SF, CA, May, 2004 Pavlo Ivanovych Lazarenko ( Ukrainian: Павло Іванович Лазаренко) was a Ukrainian statesman, who, while in power, was notorious for his corruptive practices. ... Gazprom (LSE: OGZD; Russian: , sometimes transcribed as Gasprom) is the largest Russian company and the biggest extractor of natural gas in the world. ...

References

  1. ^ David E. Hoffman, The Oligarchs: Wealth and Power in the New Russia, PublicAffairs (2003) ISBN 1-58648-202-5
  2. ^ According to British journalist Nick Watt, reporting for ABC's Nightline. (broadcast of June 1, 2007)
  3. ^ "Over there: American and other foreign owners are revolutionizing British football", Boston Globe, May 25, 2007

Public affairs is a catch-all term that includes public policy as well as public administration, both of which are closely related to and draw upon the fields of political science as well as economics. ... Nightline is a late-night hard and soft news program broadcast by ABC in the United States, and has a franchised formula to other networks and stations elsewhere in the world. ... June 1 is the 152nd day of the year (153rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... The Boston Globe is the most widely-circulated daily newspaper in Boston, Massachusetts and in the greater New England region. ... is the 145th day of the year (146th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is now the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...

See also

 

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