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Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few' and ἄρχω (árkhō) 'to rule, command') [1] [2] [3] is a form of power structure in which power rests with a small number of people.
A 2013 report by Credit Suisse found that 35% of the wealth of Russia was owned by the wealthiest 110 individuals. [ 38 ] [ 33 ] Daniel Treisman proposed using a term "silovarch" ( silovik and oligarch) for a new class of Russian oligarchs with backgrounds in Russian military and intelligence. [ 39 ]
Oligarchy, meaning "rule of the few", is a form of power structure in which power rests with a small number of people. These people might be distinguished by nobility, wealth, family ties, education or corporate, religious or military control.
In total, in September 2021 the top 100 wealthiest business people in Ukraine controlled around $44.5 billion, according to Forbes, [12] 27% of Ukrainian GDP. [13] The top 5 Ukrainian oligarchs with net worth of at least $1 billion in 2024 were identified as: [13] [14]
In January, the non-profit Oxfam reported that the world’s billionaires have become $3.3 trillion wealthier than they were in 2020, with their wealth increasing at a rate three times faster than ...
Solon introduced the ideas of timokratia as a graded oligarchy in his Solonian Constitution for Athens in the early 6th century BC. His was the first known deliberately implemented form of timocracy, allocating political rights and economic responsibility depending on membership of one of four tiers of the population.
However, an estimated net worth of $1 billion should be calculated per person. If the wealth could be traced to one living individual, the Forbes includes wealth belonging to a member's immediate relatives. Royal families and dictators that have their wealth contingent on a position are always excluded from the rankings. [2] [3]
Image credits: Footlingpresentation #10. There was an article in Norway some years back asking rich people how they saved money. I think this was after the 2008 financial crisis.