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
Famous quotes containing the word russian:
“A country is strong which consists of wealthy families, every member of whom is interested in defending a common treasure; it is weak when composed of scattered individuals, to whom it matters little whether they obey seven or one, a Russian or a Corsican, so long as each keeps his own plot of land, blind in their wretched egotism, to the fact that the day is coming when this too will be torn from them.”
—Honoré De Balzac (1799–1850)