THE STORY | |||
Vladimir Gusinksy, 51, emerged from the underground economy of the era of the Soviet Union, like many of Russia's oligarchs. But among this group, Gusinsky was unique: Much of his wealth was created from scratch instead of from taking over former state properties. Born in 1952, he was the only child of a family who experienced the pain of Soviet repression firsthand. Gusinksy's maternal grandfather was shot during Stalin's purges, and his grandmother spent 10 years in a Soviet-style labor camp. He lived with his parents in a one-room flat in Moscow, but Gusinksy "grew up on the street," as he later put it. He attended the Gubkin Institute of Petrochemicals and Natural Gas but failed his classes, so he joined the army. Later, Gusinsky attended Gitis, a school for theatrical directors, and became a theatrical producer in the provinces. He also drove a cab and traded on Moscow's black-market street scene. In 1987, with just $1,000, he opened a women's clothing cooperative, one of Russia's first state-approved cooperatives. Two years later, he opened MOST, a consulting co-op for foreign investors in Russia, which gradually branched out into media, ultimately becoming Media-MOST. In 1993, Gusinsky launched his first independent newspaper, Sevodnya, which put him on his way to becoming "Russia's Rupert Murdoch." Using connections from his earlier days, Gusinsky called upon Deputy Mayor of Moscow Yuri Luzhkov for help in gaining control of the television station Channel 4. With Russia's war in Chechnya just beginning, Gusinsky's station was critical of President Boris Yeltsin and his policies. In 1996, however, when a Communist Party presidential candidate presented a real threat to Yeltsin's reelection, the rising media magnate suspended all criticism. After Yeltsin won the reelection, Gusinsky was awarded the country's first private television network, NTV, and his media conglomerate, Media-MOST, expanded to include a satellite communications network, a series of radio stations and magazines, such as Itogi, jointly published with Newsweek. By 1999, Gusinsky reverted to his critical attitude toward the Yeltsin government and carried on his network a series of reports about the Yeltsin family and friends running the Kremlin. Yeltsin did nothing to force Gusinsky off air, but President Vladimir Putin was another story. Putin waged a string of attacks against Gusinsky, who now lives in exile.
Despite Gusinsky's critically daring media coverage of the Kremlin, for a time he was considered part of Yeltsin's inner circle. He was a member of the Big Seven, a group of oligarchs who backed Yeltsin's reelection campaign, and he even lent Yeltsin his chief aide to handle the president's media efforts.
Next: Mikhail Khodorkovsky - Billionaire Industrialist Previous: Mikhail Fridman - Oil Tycoon Photo Credits back to top |