The beast known as the Common Russian Oligarch has long ceased to be viewed as exotic, whether in Russia or the West. However, while in Russia almost any reasonably successful entrepreneur or prominent politician can become known as an "oligarch", the West's definition of the term does not extend to anyone who is simply rich or politically influential; it is a term used specifically for those Russian tycoons who are willing and able to be aggressive in fighting over the remnants of undistributed state property.
The European edition of the US-based "Business Week" magazine has published a list of Russian oligarchs. On the one hand, the selection is undoubtedly logical; on the other, it clearly appears to be incomplete. It includes the following names: Vladimir Potanin (Interros), Oleg Kiselev (TVS), Andrei Melnichenko (MDM Group), Mikhail Khodorkovsky (YUKOS), Ruben Vardanian (Troika-Dialog), Igor Potapenko (Razguliai Ukrros), Mikhail Fridman (Alpha Group), and Oleg Deripaska (Bazovyi Element). This group is described by Western analysts as "the new wealth of Russia".
Missing from the list are such figures as Vagit Alekperov, Vladimir Bogdanov, Alexei Mordashov, Anatoly Chubais, Alexei Miller, and a number of other well-known people who are perfectly capable of fighting for a share of state property, according to Russian opinion.
And there is some property yet to be distributed, despite all the hysterical cries of "Everything in Russia has been stolen!" According to Western experts, state property to the value of $90 billion (almost 30% of the GDP) has been made available for privatization so far. Of this, 8% is in the natural gas sector. It is by no means an unrealistic prospect that the debt-burdened Gazprom company could go bankrupt. Even if it does not, independent gas producers will still try to gain access to export pipelines. Restructuring of the railways (8% of the GDP) will entail considerable privatization. Leading magnates are already trying to get in on the ground floor in this sector, acquiring depots, repair facilities, and other assets. More and more of Russia's "capitalists" are looking to the agricultural sector (7.5% of the GDP). There will also be a new wave of expansion in the financial services market (4% of the GDP), especially since the government intends to put an end to Sberbank's exclusive right to offer deposit insurance. The upcoming pension reforms will enable private finance companies to handle pension savings. The oligarchs will also attempt to gain a share from the domain of Anatoly Chubais (the electricity sector, 2.5% of the GDP).
The Western analysts appear to have based their "gold list" of Russian oligarchs on the principle of aggression in business, rather than prioritizing total assets, political influence, or PR intensity.
Oleg Kiselev owns a stake in the Metalloinvest holding, which unites around 50 Russian enterprises in various sectors of industry: metals, agriculture, machine-building. Kiselev has recently become the managing director of the TVS television company. It is worth noting that at one time, Kiselev was the teacher of Mikhail Fridman, now also a tycoon; when Fridman was a student at the Moscow Steel and Alloys Institute. According to Business Week, Kiselev is currently buying up land in central Russia and buying facilities in the railways sector.
Vladimir Potanin, president of the Interros holding, is growing more and more interested in food produce and the media industry.
Andrei Melnichenko, president of MDM Group, whose status is clearly underestimated in Russia, has become one of the major coal- mining proprietors. According to the Western analysts, his future interests are currently in production and sales of fertilizer. Moreover, Melnichenko could become a leading figure in managing pension funds. Interestingly enough, Melnichenko is viewed in the West as being among those with the greatest prospects of becoming politically influential. However, Melnichenko is unlikely to be among the first five oligarchs Russians might name off the top of their heads; perhaps because of his age. One Western businessman described Melnichenko as follows: "He's thirty years old, and he wants to rule the world."
Mikhail Khodorkovsky, president of the YUKOS oil company, has been the first Russian capitalist to reveal the extent of his wealth: around $7 billion. Khodorkovsky is notable for probably being the most "public" oligarch right now; this is what has placed him among the leaders in terms of capitalization. Khodorkovsky is expanding from the oil sector into natural gas and electricity.
Igor Potapenko, president of the Razguliai Ukrros agricultural enterprise, is a graduate of the Kiev Military College. At the start of his career he used to "trade" Ukrainian sugar for Russian oil. He is now accumulating assets in order to create a large agricultural holding.
According to Business Week, Ruben Vardanian, president of the Troika-Dialog investment company, is trying hard to make Rosgosstrakh (Russian State Insurance) into one of the leading companies in the insurance sector; he is also interested in the auto industry.
The interests of Mikhail Fridman, head of Alpha Group, include expansion into the natural gas sector and developing high-tech banking services aimed at the middle class. (Translated by Andrei Ryabochkin)