The billionaires who own Russia

The arrest of Russian oligarch Mikhail Khodorkovsky has called into question Russia's willingness to embrace capitalism and caused the Russian stock market to nose-dive. Who are the oligarchs, and how did they become so rich?

How rich are the oligarchs?

Among the richest people on earth. They amassed vast fortunes by buying up the former Soviet Union's state assets in privatizations organized by then-president Boris Yeltsin in the mid-1990s. In 1998, just 12 oligarchs controlled more than half of Russia's economy. Today, Russia boasts 17 billionaires (only three nations have more), many still in their 30s. Roman Abramovich, whose interests span oil, airlines, and media, is worth $12 billion, yet is only 36. Oleg Deripaska, who owns Russia's largest aluminum plant as well as car- and aircraft-manufacturing businesses, is just 35.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up