Russia's society: Why so many oligarchs?

Haute couture, private jets and super yachts: Russia's all about conspicuous consumption. But the country's also home to millions living below the poverty line. CNN's Clarissa Ward explains how this huge inequality came about.

[fobosdelder]

I who live in Russia say that it's true.
Sorry for my English, i'm learning it

[stevesmith]

does the world oligarch ring any bells? yes, Bush, Clinton, Bush, Barry, is one series

[jessmore]

The main difference between our oligarchs and theirs, apparently, is that theirs are forced to stay out of politics. Ours, on the other hand, OWN our politics.

According to the Census, in 2020 a shade over 11 percent of Americans lived below the poverty level. That number is 16 percent for children.

Here, the top 1 percent owns nearly 40 percent of the country's wealth. That's less than in Russia but is that really the bar we want to set? The top 10 percent owns 70 percent of the wealth. The poorest 50 percent owns 2 percent of the wealth.

There was a Berkeley study in 2014 that showed that Russia's wealth concentration is only rivaled by ours.

[PS]

Oligarchs are everywhere. In the USA and Russia. In the USA they are called corporations.

[ty]

Out of the 6 oligarchs pictures 2 of them in the middle is bankrupted one of them was even assassinated.

[alexc]

Thanks to God, here in USA everyone is wicked rich and we've never heard about food stamps, welfare, and Obamacare.

[unkowncoollookingrobot]

American society: Why so many oligarchs ? Talk about that CNN!

[TheDjKoul]

so many oligarchs (C) ....recently the story called why so many bears .... do you know that brown bears still influence the politics in Russia ?

[ravindertalwar]

I pray to God for the wellbeing and happiness for everyone in the Global World based on Love Light Peace And Justice.

[davidhurst]

Last I checked their Gini Coefficient was actually better than the US'. We like to pretend like our government doesn't favor an oligarchy like Russia, when in reality the only difference is that in Russia the Oligarchs are appointed by the government, and in the United States the oligarchs appoint themselves.

[siddharthachoudhury]

Collapse of Ussr was the biggest folly ever

[TheMickeygogogo]

Only 10 out of Russia's 85 regions are financially stable.
Avg salary - $847
Youth unlikely able to buy a home in their lifetime
Mass alcoholism
Infrastructure collapsing
Corruption out of control
Russia's finished. There's no hope for this nation.

[JuliaRoberts]

I have unsubscribed from this page...again....and YouTube keeps adding it to my subs??? why???

[rayolite]

They don't have a drip in the bucket compared to the U.S.

[sammymcfone]

Why do you 'donate' to political parties? The lack of self awareness is staggering...

[Wetepok]

The reality of Russia: We have so much money but ppl are poor. Why? Well... I think everyone knows why.

[verstwo]

mmm...this video didn't really answer the question in the title.

[thomashcullen]

Wealth should be banned because oxygen exists

[dionysus]

Can you talk about American oligarchs next😂

[rickwindson]

This doesn't really answer the question on the headline tbh..