The Oligarchs' Grip (PDF)

The first ever guide to oligarchs as a global and historical phenomenon.

Today, more than twenty oligarchs serve as heads of state or government in countries such as Russia, South Africa, Lebanon, and El Salvador. Many have a net worth in excess of $1 billion, and they all - whether directly or indirectly - impact our daily lives.

Who are they and how have they dominated our world? What lessons can we learn from them, and what might the future hold?

In The Oligarchs' Grip: Fusing Wealth and Power, entrepreneurship professor David Lingelbach and oligarch researcher Valentina Rodríguez Guerra draw upon more than 25 years of research (including conversations with Vladimir Putin and other oligarchs), 16 case studies, and dozens of historical examples to develop the first-ever model revealing the strategies oligarchs employ to fuse wealth and power, and transition between the two. This model gives insight into how oligarchs use multiple control mechanisms to exploit an increasingly uncertain world.

The Oligarchs' Grip is a fascinating read for economists, political scientists, business academics, policymakers, businesspeople and anyone interested in oligarchs and the wealth and power they wield on the politico-economic scene today.

David Lingelbach is professor of entrepreneurship at the Merrick School of Business, The University of Baltimore. He was educated at MIT, London School of Economics and Political Science, and University of Exeter, from which he received a Ph.D. Prior to becoming an academic, David served in senior roles in finance and international development, including as CEO of Bank of America's businesses in the former Soviet Union. He has been a Fulbright Scholar (Myanmar/Burma, 2018-19) and Fulbright Specialist (Colombia, 2021) and has been nominated twice for an Andrew Carnegie Fellowship.

Valentina Rodríguez Guerra is an author, oligarch researcher, and graduate student in business administration, Facultad de Ciencias Económicas, Universidad Nacional de Colombia. She has received awards for her work from NASA and the Colombian Ministry of Education.

Together, they are regular opinion contributors to The Hill on Vladimir Putin and oligarchs.