First fortunes were made in the period of rampant inflation of
1992–1994
The oligarchs’ powerful economic structures were boosted by
Chubais’s “loans for shares” auctions of 1995-1996 (the banks gave
loans to the government to finance budgetary expenses in exchange
for state shares in lucrative companies)
The oligarchs’ investment in financing Yeltsin’s 1996 presidential
campaign ($300 million) was recouped manifold through tax
concessions and other tokens of government favour
Some of the tycoons were rewarded with high government posts, others
were handed assets at knock-down prices
