Part 1/14:

The Rise and Fall of Russia's Oligarchs: Putin's Systematic Power Consolidation

The Emergence of the Oligarchs in Post-Soviet Russia

In the chaotic aftermath of the Soviet Union's collapse, Russia experienced a rapid and ruthless redistribution of wealth. During the 1990s, a small cadre of sharp, relentless businessmen known as oligarchs amassed enormous fortunes by acquiring state assets—oil companies, aluminum plants, media outlets—often at pennies on the dollar during privatizations. Figures such as Boris Berovski, Vladimir Gusinski, and Mikhail Korokovski epitomized a generation of billionaires whose influence extended beyond business to control entire industries, wield political clout, and live extravagantly with private jets and luxury estates.