oligarch

noun

ol·i·garch ˈä-lə-ˌgärk

ˈō-

plural oligarchs

: a member or supporter of an oligarchy

in Russia and other countries that succeeded the Soviet Union : one of a class of individuals who through private acquisition of state assets amassed great wealth that is stored especially in foreign accounts and properties and who typically maintain close links to the highest government circles

But what does it really mean to be a Russian oligarch …? … in Russian politics, the term first came about in the 1990s to describe a dozen or so powerful men who amassed immense wealth following the collapse of the Soviet Union.

The Business Insider

The task force will pool the resources of the countries' law enforcement divisions to track down the assets of Russian oligarchs stashed overseas, a difficult task complicated by the opaque or complicated financial instruments frequently used by Russian financial elites to hide their holdings from public view.

Jeff Stein

… young Armenians, who joined the protests in droves, angry that the same small club of politicians and oligarchs has controlled the country since independence from the Soviet Union in 1991.

Neil Macfarquhar

Example Sentences

Recent Examples on the Web The acquisition of Chelsea by Todd Boehly and Clearlake Capital was a unique case, with Russian oligarch Roman Abramovich forced to sell after being sanctioned by the UK government for his links to Vladimir Putin.

James Robson, Chicago Tribune, 27 Nov. 2022 Those in the political opposition say the Georgian Dream party — founded by an oligarch who made his fortune in Russia — has turned the country away from the West while trying to keep peace with Putin.

Chico Harlan, Washington Post, 2 Nov. 2022 The year before, disaffected Republican voters in central Virginia defeated the House majority leader Eric Cantor, an oligarch if ever there was one, in a primary upset.

Andrew Cockburn, Harper’s Magazine , 26 Oct. 2022 Some, such as Igor Sechin, an oligarch who runs Russia’s oil giant Rosneft, are staunchly advocating for nationalistic Russian policies, while others are geared toward free market measures.

Yvonne Lau, Fortune, 14 Aug. 2022 Also named in Treasury's latest sanctions package is Andrey Grigoryevich Guryev, an oligarch who owns the Witanhurst estate, a 25-bedroom mansion that is the second-largest estate in London after Buckingham Palace.

Fatima Hussein, ajc, 2 Aug. 2022 So one of the characters in the book is an oligarch.

CBS News, 13 July 2022 Nearly 90 percent of production comes from private mines, the vast majority of it from DTEK, the dominant energy company in Ukraine, owned by Rinat Akhmetov, an oligarch who is Ukraine’s richest man.

New York Times, 25 June 2022 Actions such as impounding an oligarch’s yacht or freezing his bank accounts are the equivalent of surgical strikes, with little collateral damage.

al, 3 Apr. 2022 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'oligarch.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Word History

Etymology

borrowed from Greek oligárchēs, from olig- olig- + -archēs -arch entry 1, after Greek oligarcheîsthai "to be ruled by an oligarchy," oligarchía oligarchy

First Known Use

circa 1610, in the meaning defined at sense 1

Time Traveler

The first known use of oligarch was circa 1610

See more words from the same year