By John Q. Hosedrinker 
In the face of the ongoing war in Ukraine, Russia’s billionaires have experienced a remarkable shift in fortunes, with their political influence diminishing while their numbers have surged to an all-time high. Putin has effectively maintained control through a strategy of rewarding loyalty and punishing dissent, exemplified by the experiences of figures like Oleg Tinkov, who faced severe repercussions for criticizing the war. While initial sanctions and economic downturns took a toll, the war has paradoxically fueled economic growth, creating opportunities for those aligned with the regime. Ultimately, this dynamic has resulted in the concentration of wealth and power, solidifying Putin’s grip on the elite and the Russian economy.
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Rich and voiceless: How Putin has kept Russia’s billionaires on side in the war, that’s the question we’re tackling today. And honestly, it boils down to a pretty brutal and straightforward system. Think about it: the core principle is “stay in line, or else.” It’s a system reminiscent of tactics used by figures like Stalin, and it keeps the Russian elite firmly under Putin’s thumb.
The reality is that those with immense wealth and influence are still at the mercy of the government’s power. It’s a chilling reminder that no matter how many billions you’ve amassed, your life and your family’s lives can be forfeit at a moment’s notice. The threat of violence, of losing everything, is always hanging over them. Those who want to remain rich and living understand this clearly, and thus, they remain loyal.
So, how does Putin maintain this grip? Well, the answer seems painfully simple: by using the threat of physical violence, asset confiscation, and the “open window policy”. It’s a policy that makes them understand the parameters of his power: speak out, and risk an untimely demise. Many people call it brutal, but it’s effective.
The methods employed are not complex, though certainly horrific. Defenestration, the removal of persons from a window, is a grimly effective way of sending a message. Threats of taking away all their assets are another tool in the arsenal. This is done to ensure the rich comply with Putin’s wishes. This is similar to how the mafia operates with local businesses.
Of course, the more subtle tactics are also at play. The late Alexei Navalny, for example, proved that within Putin’s security apparatus exists a unit specializing in murdering Russians. It’s a very clear warning of the consequences of dissent, and it keeps the billionaires, and anyone else, in line. It’s a culture of fear, a constant state of uncertainty.
Then there’s the financial aspect. Putin has been reported to have taken money from these very billionaires to fund the war. This further solidifies the system. They are enriched, yes, but they are also deeply entangled in the regime’s projects. They’re essentially providing the financial resources that prop up the system that keeps them in check. The billionaires are not making these choices to maintain peace.
The irony here is that the war, like all wars, enriches the rich. They’re laughing all the way to the bank, but they’re also keenly aware of their precarious position. Their wealth is contingent on their compliance, and that compliance is bought with a combination of fear and financial incentives.
The current situation is far more profitable than peace. It is the arms industry and the war machine that benefits from these conflicts, however.
We should acknowledge that this has happened elsewhere, and not only in Russia. The use of fear, threats, and even death, is a tool employed by many who seek to maintain power.
Ultimately, this is a system built on control. It’s a reminder of the fragility of wealth and the brutal realities of power. And it’s a stark illustration of how Putin keeps his billionaires on side: by reminding them, constantly, that they are at the mercy of the man at the top.