Russian Oligarchs
Business oligarch is a near-synonym of the term "business magnate", borrowed by the English speaking and western media from Russian parlance to describe the huge, fast-acquired wealth of some businessmen of the former Soviet republics (mostly Russia and Ukraine) during privatization in Russia and other post-Soviet states in 1990s. Businessmen with great wealth from these countries were commonly labeled (simply) "oligarchs" in Russian regardless of whether they had real political power, as the term "oligarch" would imply.
Read more about Russian Oligarchs: Post-Soviet Russian Oligarchs
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