The Oligarchs

Wealth and Power in the New Russia

By: David Hoffman

Narrated by: Steve Coulter

A brilliant investigative narrative: How six average Soviet men rose to the pinnacle of Russia's battered economy. 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 one another 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.

©2002, 2003, 2011 David E. Hoffman (P)2014 Audible, Inc.

Compelling History - Rise of the First Oligarchs

When the Soviet Union collapsed and ailing President Boris Yeltsin relaxed restrictions on foreign capital, he set in motion an asset-grabbing, profit-generating nightmare in which, without the structures required to keep raw capitalism in check, billions were made and Russia's crown jewel resources divided among a brilliant, ruthless few. This story tracks these first oligarchs up to the rise of Vladimir Putin, when everything changed. Disgraced, deported or jailed few of the billionaires remained unscathed. Putin installed a new breed of oligarchs whose loyalty to the autocratic Putin remains unquestioned. A highly detailed history of Russia's version of the wild, wild west.

Very comprehensive account

This book was well written and very thorough in its account of the rise of the Oligarchs. Perhaps it could have been a little less in depth in some places, as at times the story got quite slow and the overall listen time was quite lengthy. Generally very good, however.

Very detailed and informative

I think this book is a must for anyone trying to understand russian politics today.

Russian words are badly mispronounced

Where does The Oligarchs rank among all the audiobooks you’ve listened to so far?

Russian words are badly mispronounced

What was one of the most memorable moments of The Oligarchs?

Russian words are badly mispronounced

How could the performance have been better?

Russian words are badly mispronounced

Did you have an extreme reaction to this book? Did it make you laugh or cry?

Russian words are badly mispronounced

Any additional comments?

Russian words are badly mispronounced

No judgment by the author for any side is great

no emotions for any side for such a book is very hard, but the author made it.

Detailed

This is a very detailed explanation of how privatization happened after the fall of the Soviet Union. It is very similar to a book about politics with explanations of the different factions and experiences of the players influencing there ideas and actions. The broad context of how the privatization happened with billion-dollar companies selling for cents on the dollar was interesting to me. The politics and outcomes for so many individuals was too detailed for me.

Excellent!

At first I was intimidate by the length of the book, but once I started listening I couldn’t “put it down”. Great listen and very interesting!

Great Business Book

The story of what went on in Russia at the end of the 1980's and early 1990's is fascinating. Nature abhor's a vacuum to be sure. Exactly how assets were transferred is mind boggling.

Unbelievable. Very well researched and written.

Americans need to know how Putin has taken over the Oligarchs' businesses and now has compete control of the media, the key industries, and natural resources. We need to be aware of how such a foreign leader can use these same tactics to infiltrate our democracy.

incredibly interesting!

As an American, I never heard any of this 'inside story'. Can't wait for the detailed 'inside story' on Putin!