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In January 2018, the U.S. Treasury released a list of 200 Russian oligarchs.The Russian oligarchy hasn't changed much since the 1400's because it works. The reigning monarch must share his power with the descendants of the country's founder. Examples of this system include South Africa under apartheid, Liberia under Americo-Liberians, the Sultanate of Zanzibar, and Rhodesia, where the installation of oligarchic rule by the descendants of foreign settlers was primarily regarded as a legacy of various forms of colonialism. In the current Putin Era, oligarchs like Roman Abramovich, Pyotr Aven, Leonid Mikhelson and Yuri Milner feature dominantly on numerous Forbes Magazine lists. The transaction was done on typically friendly terms, with Anglo American providing both equity and mezzanine debt.The black entrepreneurs who have done the biggest deals over the past year are Patrice Motsepe, the chairman of African Rainbow Minerals, and Tokyo Sexwale, the chairman of Mvelephanda Resources.Motsepe, also immaculately tailored, became a rand billionaire overnight when he listed his gold assets, ARMgold, on the Johannesburg stock exchange in May 2002.Last May, African Rainbow pulled off a R4.9bn (£378m) asset swap and share issue with Anglovaal Mining and Harmony Gold. Khomeini did not allow his family to rule.

The country of South Africa was under oligarchic power. "Because there is very little accumulated wealth in the black part of the community, it has been quite difficult to locate funds for transfers and there is no doubt that a small number of people who are well placed to participate have been able to do a large number of deals," he says.Lonmin has set up a new company, called Incwala (which means the first fruits of the new season) to hold an 18 per cent stake in its platinum mining operations.The stake, valued at $820m (£455m), is being marketed to "historically disadvantaged South Africans (HDSA)", according to the official jargon.

"It will be a full-scale public offering of shares targeted at HDSA investors; it will be deliberately designed to widen share ownership," Craven says.It seems likely, though, that it will be members of South Africa's new business elite who make the initial investment in Incwala.The gulf between rich and poor blacks in South Africa has grown dramatically since the ending of apartheid. In contrast, the income of the bottom 45 per cent of blacks, has shrunk by 10 per cent in the past decade. by Douglas DeGroot [PDF version of this article] June 4—Prince Philip's World Wide Fund for Nature (WWF) is going on the offensive against South Africa, dictating that the WWF's depopulation policies be implemented in South Africa. He led the 1979 revolution that ousted Shah Pahlavi.

Perhaps the best known South African entrepreneur is Cyril Ramaphosa, the exquisitely suited, former mining union leader and ANC general secretary who helped negotiate South Africa's first multi-racial elections.He quit politics in 1996 to join New African Investments Limited, Nail, a holding company for investments in financial services and media companies. On the other hand, South Africa has a growing middle class and - compared with much of sub-Saharan Africa - it is an economic success story.So who are the black oligarchs? The oligarch system returned in the 1990s with the breakup of the Soviet Union. No case was proved against him." Khumalo was accused of using 6m of the shares to raise money for another of his businesses in an alleged breach of an agreement not to sell or transfer the shares.Algy Cluff, the chairman of Cluff Mining, believes that Khumalo has been unfairly criticised. Kimberly Amadeo has 20 years of experience in economic analysis and business strategy. The deal turned Harmony into the world's fifth biggest gold producer and ARM into South Africa's largest black controlled diversified miner.A month later, a company run by Sexwale - a former prime minister of the the Gauteng province following a spell in a prison cell on Robben Island - paid R4.1bn (£316m) to buy 15 per cent of Gold Fields, one of the world's largest gold producers.Meanwhile, another well-heeled oligarch is Mzi Khumalo, who is said to have a personal fortune of tens of millions of pounds and lives on a luxury, gated golf estate.The chairman of one London mining company, speaking on condition of anonymity, says: "I know Mzi well. But Craven also argues it is no surprise that a few very wealthy individuals have emerged. But they support taxes that fund new roads and bridges. The five Larijani brothers are friends and relatives of Khamenei and his allies. Richardson seizes upon the soul of the country and its ongoing struggle to provide equal opportunity to all. It operates regardless of whether communists or capitalists run the country. So far, Zimele has created 30 businesses supporting 2,000 jobs.This desire to see wider ownership of businesses is shared by Sir John Craven, the chairman of Lonmin, the London-listed platinum miner.

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