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How Putin Secretly Became The World’s Richest Man

Expelled Russian financier turned political activist explains the kleptocracy that has led to Putin’s wealth — and war in Ukraine.

Carlos Velásquez
Writers’ Blokke
6 min readOct 5, 2022

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Illustration by Thomas Levinson from thedailybeast

In 2003, Vladamir Putin ordered the arrest of Mikhail Khodorkovsky on suspicion of tax evasion and illegally acquiring a stake in a Russian state-owned company. What made this story noteworthy were not the charges (corruption is endemic in Russia) but the fact that Khodorkovsky was Russia’s wealthiest oligarch, an oil tycoon with a net worth of $15 billion. During the trial, Russian authorities humiliated Khodorkovsky by placing him in a cage for reporters to film — a conspicuous signal to Russian society that Vladamir Putin was in charge.

Despite the widespread international concern that Khodorkovsky’s arrest was politically motivated, the Russian courts found Khodorkovsky guilty of committing fraud and sentenced him to nearly a decade in prison.

“Imagine you’re the 17th richest oligarch in Russia. You’re on your yacht parked off the Côte d’Azur in France. You just finished up with your mistress in the bedroom; you go out to the living room, you click on CNN and you see a guy (Khodorkovsky) far smarter, far more powerful, far better than you, sitting in a cage. What’s your natural reaction…

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Writers’ Blokke
Writers’ Blokke

Published in Writers’ Blokke

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Carlos Velásquez
Carlos Velásquez

Written by Carlos Velásquez

I explore ideas that help us benefit from life’s uncertainties. Join me.

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