Oligarch is a near-synonym of the term "business magnate". The choice of the word oligarch denotes the significant influence such wealthy individuals may have on the life of a nation. However, in modern Russia it is very common to apply this term to any business tycoon, regardless of whether or not he has real political power. The term came into wide circulation after the collapse of the Soviet Union, in reference to those individuals who acquired tremendous wealth in some post-Soviet republics.

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