This is what happens when you privatize massive industries without proper processes in place... Most of these people inherited billion dollar businesses when the Soviet Union crumbled.
The irony of this is that lack of 'proper processes' occurred because the new government had to do this ASAP, before the 'red managers' (actual management of properties in question), backed by labour collectives, assume control over the means of production in the country and reverse the 'democratization', privatization and whatever new shiny things reformists intended to do.