The Rise And Fall Of Russia's Oligarchs

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In this video we go over the rise and fall of Russia's billionaires oligarchs. Even to this day most Russian billionaires can trace their wealth back to the disorderly process in which the former Soviet state owned enterprises were privatized in the 1990s. Savvy businessmen and bureaucrats were able to buy up large stakes in these companies for pennies on the dollar. Throughout the 1990s these oligarchs effectively ran Russia's government as President Yeltsin was a weak leader. However, things changed when Vladimir Putin took power.

#Wallstreetmillennial #Russia #Putin

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Wall Street Millennial

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A lot of people were also robbed of their "shares" from local gangs, or simply murdered in what became the Russian Mafia, known for making the Italian Mafia seem tame in comparison.

Studeb

"All animals are equal, but some animals are more equal than others;" Animal Farm.

G

Very fair review, very surprised how unbiased and to the core. Well done.

unknwn_kgb

The video doesn't mention one of the biggest government "scams" during privatization in Russia. Loans for shares scheme where the biggest enterprises were effectively sold for less than 10% of their market values. That's when real billionaires were made in Russia. That's basically how most of the oil and natural resources companies were "sold".

atananaev

Many would contend that Russia's accelerated GDP growth in Putin's 1st decade was largely attributable to soaring oil and gas prices, rather than increased productivity in the private sector.

spointz

When Putin came to power he brought the Oligarchs to Stalin's home near Moscow to "Negotiate." He was sending a message to them.

TimKyoutube

Short, concise, well-articulated, and to the point video. Excellent work!

naoh

Awesome content man, you really deserve more attention. Keep it up.

wallstreetbro

A good video you have made but i think you left out something very important in this video. It should have included how the west actually funded many of these oligarchys at the beginning with the help of corporate banks and the IMF & World Bank, using them as the tools who bought up most if not all the assets of Russia at the time.

That was why the oligarchys thought they were so powerful and the Kremlin could do nothing to them....but they were wrong when Putin came into power. Which in my opinion is one, if not the major reasons behind the sanctions today in Russia. Bankers are very powerful.

evertrue

My family are all egalitarians. Not me though. I think it's wrong to eat eagles.

jeffsetter

Imagine being essentially offered: "Hey dude, want to buy this massive iron mine? It produces 20 billion in revenue and 500 million in profits every year, I need someone I can trust to own it, want it for a couple million?"

andrewjensen

They are still as strong as ever bro there was no falls

jasonthompson

russia was being advised on its free market reforms by american exierts. Its baffling why these experts couldn't stop the disastrous mistakes that were made or was it deliberate ???

surendramumgai

It’s not like we haven’t had our own oligarchs in the United States over generations, but at least ours often grew out of whatever the hot technology of the time was (combined with predatory ruthlessness). Railroads in the 19th Century (Harriman, Stanford) plus finance (Morgan). Oil late 19th-early 20th (Getty, Rockefeller). Automobiles in the early 20th (Ford, Durant). Computers in the mid 20th (Gates, Jobs). Technology in the late 20th (Page, Brin). Social media in the early 20th (Zuckerberg, Dorsey, Bezos). Plenty of others whose piles of money exercise outsize influence over our politics. How we get around that, who knows, as long as innovators are entitled to reap the rewards of their work, which seems fair enough. Communism was supposed to be a counter to the evils of capitalism but that turned into a totalitarian horror that was worse.

tobucksy