The Oligarchs: Wealth and Power in the New Russia

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PublicAffairs, 2003 - Business & Economics - 575 pages
25 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  - Victoria Sadler - Goodreads

This is a big book -500 pages. But rather than bring metaphorically heavy as well, the book is written in an engaging, conversational style though it's packed with facts. Incredibly the author got ... Read full review

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

User Review  - Bill Ashe - Goodreads

Great subject, but the book is a little rambling and disjointed. And overly long. But it's an amazing story with an incredible cast of characters. Poor Russia though. That country is cursed. 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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