It seems it's not enough to have billion$ in order to be accepted by the world "fellow billionaires" as one of them. Equally important is to prove how legally these billions were earned. For the Russian oligarchs earning money is the least problem of all. To keep this money from other sharks is equally important. To be recognized by the West as legitimate businessmen instead as robber barons of 19 c. is as much important as to keep growing the mountains of money. In order to do this they are ready to sacrifice part of their wealth and play decent businessmen following all western laws and regulations.

In the past rich Russians bought luxurious houses and apartments in Europe and America. Now they gradually change the strategy. Instead of individual houses they are looking for entire resorts. One of the richest Russian oligarchs, perhaps the richest, Roman Abramovich, was reported to be negotiating to buy Eco del Mare, an Italy exclusive beach resort, famous from the times of the poet Shelley.

Since the oil boom of 1970's the world has seen nothing comparable to our time in terms of huge personal wealth coming from new nations and unknown individuals. According to the last figures, Russia stands on 3rd position in terms of number of billionaires just behind the United States and Germany. The origin of wealth in Russia although is much less diversified than in the other leading nations when at stake are the super-rich persons. Except two, all 20 or so billionaires in Russia have accumulated their wealth directly from oil and metallurgy.

Another special point is that in Russia it's just not possible to become and especially to remain a billionaire without strong connections to the very top in Kremlin. To make the life more difficult for the ordinary oligarchs, the "prize" of Russian billionaires doesn't correspond to their wealth. Their image in the West is similar to that of the American robber barons more than 100 years ago, with the qualification that some of these pioneers of the wild capitalism in the USA were also prominent builders and inventors. Russian oligarchs didn't invent any new technology, they didn't build new industries, but they just took over the existing industries and technologies and made profit from their exploitation.

So their psyche badly needs recognition that money can't buy alone. That's why they have started acquiring landmark properties and other assets in the West, properties that can't be bought without attracting media attention. Mr. Abramovich is already owner of Chelsea soccer club; Russian oil companies own chains of gas stations in Europe and America. They plan to expand further their foreign assets. The point isn't to make profits out of these deals. Russian oligarchs and their branches in the West strictly pay taxes and abide laws, desperately in need of a good word in the media about their economic activity. By playing law-abiding businessmen in America and Europe they like to erase the image of them as of robber barons. So far this play has no conclusive results. Westerners are deeply suspicious about this claim to innocence.

The process of "forgetting" how exactly this huge amount of money was accumulated will perhaps last more than a generation. The dream of the Italian Mafiosi in America in the middle of 1900's was to make their children to be accepted by the society as low-abiding citizens. The same dream animated those that made fortunes on importing and producing alcohol during 1920's. Russian oligarchs don't want to wait until their children are accepted in the western high society circles. They want recognition now. That means we will witness many more landmark acquisitions in the years to come.

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See also the directory of companies providing real estate services in, and general real estate information of Russia.