The oligarchs emerged as a powerful elite from "summary" of A People's Tragedy by Orlando Figes
The oligarchs were a small group of business and financial magnates who became immensely wealthy during the industrial boom of the 1890s. They were the new elite of Russia, a class of capitalists who wielded enormous economic and political power. These oligarchs controlled the key sectors of the economy, such as oil, steel, and banking, and used their influence to shape government policy and protect their interests. They were able to accumulate vast fortunes through a combination of ruthless business practices, political connections, and exploitation of the working class. The emergence of the oligarchs as a powerful elite had profound consequences for Russian society. They lived in opulent luxury, with extravagant lifestyles that were a stark contrast to the poverty and deprivation exp...
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