Sunday, April 17, 2022

How did Russian oligarchs get their wealth?

 https://www.jpost.com/jerusalem-report/article-704153

Instead of benefiting the people, Russia’s resources are confiscated by the rich oligarchs, in return for two ‘favors’: blind unqualified support of the despot Putin, and a rumored slice of the wealth for Putin himself. This is Kleptopia.

True, in the US, Jeff Bezos, with a net worth of $200 billion, makes Abramovich and Khodorkovsky seem like paupers. But Bezos is a tycoon, not an oligarch. He founded and built Amazon and remains its executive board chairman.

Tycoons create value. Oligarchs steal it and capture economic rent through political favors.

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