In a recent survey of the forty ric

In a recent survey of the forty richest people aged under 40 , five of the ten richest people came from Russia. This may seem surprising for a country that spent most of the last century under communist rule. But anyone who has been following developments in Russia since the fall of communism in 1991 won't be too surprised.
Even before 1991 it was legal for people to start private companies and co-operatives. Since then the values of capitalism and a market economy have been emerging. In the mid-1990s, Russia's vast state oil and mining companies were sold off and many young entrepreneurs took the opportunity to start successful businesses. These companies have now expanded into other areas of industry, such as banking , telecommunications, retail, and the arts.
At the same time, the number of smaller businesses has increased dramatically. More money has been coming into the economy. The devaluation of the rouble after the 1998 economic crisis actually helped to promote a mini-boom. Real wages fell, which encouraged small enterprises to expand. Imports became too expensive for the average Russian, so local production increased. As a result, a new middle class has emerged with money to spend on consumer goods. It's all part of the new market economy.
International companies have also been investing in Russia since the fall of communism. Companies like McDonald's, Roll Royce, Ferrari, and IKEA have opened businesses such as shops, showrooms, and factories. Russian entrepreneurs themselves have made significant investment outside Russia - for example Roman Abramovich, who has invested some of his fortune in the London football club Chelsea.
As one observer put it : The speed of what's been happening in Russia since 1991 is remarkable - in many ways they've seen a " second Russian revolution