How the Russian Billionaires Became Billionaires: A Loving Portrait of Larceny



Being the history buff that I am, I couldn't help but order this history of the Russian Oligarchs as soon as I saw it. As it will be a week or so before it arrives, I will quote the Amazon product description that sold me on it below. The reviews are also glowing. Since the Russian oligarchs ("billionaires") comprise a Rogue's Gallery of fast thinking opportunists, this should be as fun to read as any bank heist caper or Wall Street investment banking history.

The Oligarchs: Wealth And Power In The New Russia by David Hoffman.



Hailed as "the most dramatic and comprehensive account" of the early years of Russian capitalism (New York Times Book Review)

David Hoffman, former Moscow bureau chief for the Washington Post, sheds light onto the hidden lives of Russia's most feared power brokers: the oligarchs. Focusing on six of these cunning and ruthless men--Alexander Smolensky, Yuri Luzhkov, Anatoly Chubais, Mikhail Khodorkovsky, Boris Berezovsky, and Vladimir Gusinsky--Hoffman reveals how a few players rose to the pinnacle of Russia's new capitalism.

The oligarchs started small. Before perestroika, they lived the lives of Soviet citizens, stuck in a dead-end system, cramped apartments, and long bread lines. But as Communism loosened, they found gaps in the economy and reaped their first fortunes by getting their hands on fast money. As the government weakened and their businesses flourished, they grew greedier. The state auctioned off its own assets, and they grabbed the biggest oil companies, mines, and factories. They went on wild borrowing sprees, taking billions of dollars from gullible western lenders. When the ruble collapsed, the tycoons saved themselves by hiding their assets and running for cover. This is a saga of brilliant triumphs and magnificent failures, the untold story of how a rapacious, unruly capitalism was born out of the ashes of Soviet communism.



About the Author

David Hoffman joined the Washington Post in 1982, and covered the Reagan and Bush presidencies as a White House correspondent. After serving as diplomatic correspondent and Jerusalem correspondent, he moved to Russia to head the Post's Moscow bureau for almost six years, and is currently Foreign Editor of the Washington Post. Get more information.





