3. The Rise of the Red Directors
Amid the privatization frenzy, Soviet-era factory bosses—known as Red Directors—used their insider knowledge and vast networks to seize control of newly privatized enterprises. These seasoned bureaucrats quickly transitioned from state managers to private owners, consolidating power in strategic sectors like oil, gas, and metals. Their ability to navigate the shifting landscape allowed them to become some of the earliest and most influential oligarchs in post-Soviet Russia (via Reuters).
