The Oligarchs: Wealth and Power in the New Russia

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PublicAffairs, 2003 - Business & Economics - 575 pages
46 Reviews
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 ruthless men Hoffman reveals how a few players managed to take over Russia's cash-strapped economy and then divvy it up in loans-for-shares deals.

Before perestroika, these men were normal Soviet citizens, stuck in a dead-end system, claustrophobic apartments, and long bread lines. But as Communism loosened, they found gaps in the economy and reaped huge fortunes by getting their hands on fast money. They were entrepreneurs. As the government weakened and their businesses flourished, they grew greedier. Now the stakes were higher. The state was auctioning off its own assets to the highest bidder. The tycoons go on wild borrowing sprees, taking billions of dollars from gullible western lenders. Meanwhile, Russia is building up a debt bomb. When the ruble finally collapses and Russia defaults, the tycoons try to save themselves by hiding their assets and running for cover. They turn against each other as each one faces a stark choice--annihilate or be annihilated.

The story of the old Russia was spies, dissidents, and missiles. This is the new Russia, where civil society and the rule of law have little or no meaning.

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Review: The Oligarchs: Wealth and Power in the New Russia

User Review  - Kotinka - Goodreads

I loved this book. It's excellent on the very shadowy period between Perestroika and the bandit Capitalism of the 90's and carries these high standards through to the last pages covering the rise of ... Read full review

Review: The Oligarchs: Wealth and Power in the New Russia

User Review  - Goodreads

A very well-written account of the rise of the current Russian inner-circle in the highest echelons of power under Putin in the years during the downfall of the Soviet Union. Starts with short ... Read full review

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About the author (2003)

\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.

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