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Londongrad - From Russia with Cash: The Inside Story of the Oligarchs
The amazing true story of how London became home to the Russian super-rich. A dazzling tale of incredible wealth, ferocious disputes, beautiful women, private jets, mega-yachts, the world’s best footballers – and chauffeur-driven Range Rovers with tinted windows.
A group of buccaneering Russian oligarchs made colossal fortunes after the collapse of communism – and many of them came to London to enjoy their new-found wealth. Londongrad tells for the first time the true story of their journeys from Moscow and St Petersburg to mansions in Mayfair, Knightsbridge and Surrey – and takes you into a shimmering world of audacious multi-billion pound deals, outrageous spending and rancorous feuds.
But while London's flashiest restaurants echoed to Russian laughter and Bond Street shop-owners totted up their profits, darker events also played themselves out. The killing of ex-KGB man Alexander Litvinenko in London to the death – in a helicopter crash he all but predicted – of Stephen Curtis, the lawyer to many of Britain's richest Russians, chilled London's Russians and many of those who know them.
This is the story of how Russia's wealth was harvested and brought to London – some of it spent by Roman Abramovich on his beloved Chelsea Football Club, some of it spent by Boris Berezovsky in his battles with Russia's all-powerful Vladimir Putin. Londongrad is a must-read for anyone interested in how vast wealth is created, the luxury it can buy and the power and intrigue it produces.
A group of buccaneering Russian oligarchs made colossal fortunes after the collapse of communism – and many of them came to London to enjoy their new-found wealth. Londongrad tells for the first time the true story of their journeys from Moscow and St Petersburg to mansions in Mayfair, Knightsbridge and Surrey – and takes you into a shimmering world of audacious multi-billion pound deals, outrageous spending and rancorous feuds.
But while London's flashiest restaurants echoed to Russian laughter and Bond Street shop-owners totted up their profits, darker events also played themselves out. The killing of ex-KGB man Alexander Litvinenko in London to the death – in a helicopter crash he all but predicted – of Stephen Curtis, the lawyer to many of Britain's richest Russians, chilled London's Russians and many of those who know them.
This is the story of how Russia's wealth was harvested and brought to London – some of it spent by Roman Abramovich on his beloved Chelsea Football Club, some of it spent by Boris Berezovsky in his battles with Russia's all-powerful Vladimir Putin. Londongrad is a must-read for anyone interested in how vast wealth is created, the luxury it can buy and the power and intrigue it produces.
416 pages, Paperback
First published May 5, 2009
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Displaying 1 - 30 of 32 reviews
January 18, 2015
Intensely dull journalese which appears to want us to all go WOW!! at the examples of largesse spewed regularly from the latest Russian set of thieves and villains. Poorly researched and essentially lacking in the detail and understanding that would have come from a greater knowledge and elucidation of historical events and subject matter. This book is down there with gutter journalism designed to sell copies at airports to those arriving or leaving for pastures Russian or Londinium or to Chelski fans. Its not worth the cheap paper it is written on and spends much of it's time in awe to the people / villains involved in this currently non-ending blag of the highest order whilst at the same time doing its best to brown nose precisely those people it sets out to sensationalise. I truly disliked its suck up attitude whilst at the same time trying to find some kind of moral high ground from which to preach about the largesse of oligarchs and the corruptability of Russia.
Investigative journalism!!! Don't make me larf!!!!
Investigative journalism!!! Don't make me larf!!!!
September 11, 2013
I ended up feeling frustrated by this book, and found myself skimming the last few pages. It's hard to articulate why it didn't work for me, though I think the key is that it seemed to focus a great deal on how big the oligarchs' yachts are, and how many bedrooms their London townhomes have, so the more telling information got lost in the avalanche of millions of pounds and billions of pounds. I suspect that the things I wanted to know just aren't available--but 370 pages is a long time to reach the conclusion 'these oligarchs are super-secretive and we really don't know as much about their pasts and plans as we'd like.'
September 26, 2012
Very interesting book to read. I was never really interested in anything Russia or anything Russian, although my work often brings me to the ex soviet country. The book is a very easy read almost like a gossip magazine and provides a glance of how modern Russia is like. It does make you feel resentful - according to the book, about 30 people in Russia own some 40% of the economic output (2004). That is just insane. The book really helped me to understand the country and why its capital city is so much muddled up with sexy lingerie shops, luxury car ads, expensive restaurants, a good coffee up to 7 pounds, poor infrastructure, old ladas and the "normal", ordinary hard working people still pitifully poor. Wealth trickles down to the bottom of the pyramid, as slow as molasses in January.
I would have preferred to read more about the history on Russia's development of market economy and how these oligarchs took advantage of the system which absolutely lacked any sort of sound check and balance. The book gives so many little details saying this oligarch spent this much money on buying this property and that art and dated this model, making the whole book read like a hello magazine.
I would have preferred to read more about the history on Russia's development of market economy and how these oligarchs took advantage of the system which absolutely lacked any sort of sound check and balance. The book gives so many little details saying this oligarch spent this much money on buying this property and that art and dated this model, making the whole book read like a hello magazine.
July 24, 2019
Very informative! The only issue is the book is a decade old. I would love to see an updated edition, to learn more about the oligarchs since this was published, and to explore newer ones.
July 11, 2022
The first thing about this book is that it changed my understanding of the oligarchs. I assumed they were one big club clustering around the president. But I should have realised that such was far too naive an approach to the complexities of Russia. This book unpicks how they became oligarchs, the attitudes towards them of Yelstin and Putin, and indeed the rivalries and jockeyings of the oligarchs themselves.
Of course, so much has happened since 2009, when this was first published, that the book lacks an updated assessment of the current state of play. But it's a valuable explanatory account of the early stages of the relationship between the UK, especially London, and oligarchal wealth.
The rise of the oligarchs in the first place makes for interesting reading for those like me who are new to the subject. The way that unscrupulous businessmen exploited the voucher scheme is credible only within the context of the effect on the populace of decades of the imposition of Soviet ideology. The biograhpies of the major players go on to show shifts in allegiances, and downright betrayals, which have created complexities witin the oligarch class. While Khodorkovsky languishes in prison, and Berezovsky criticises Putin from afar, Abramovich and Deripaska are seen to remain on-message. Meanwhile at least the elder Lebedev is shown to point critical darts at the Kremlin.
But these are just the big names, and many smaller characters are brought in for illustrative purposes. However, this is no closed, introspective community. The Anglo-Russian context is not neglected, nor is the danger ignored. We are reminded of Russian ruthlessness by the assassinations of Litvinenko, Politkovskaya and Klenbikov. And what of the death of Stephen Curtis, which begins the narrative?
One reviewer on this site has condemned the attention paid to the obscene displays of wealth by the oligarchs, but then if you want to understand them you need to see the extent of their spending and what it means. I admit it got a bit overwhelming for me too, but then just summarising it all wouldn't have worked. You need to feel just how overpowering the flow of money has been to appreciate why the oligarchs wield the influence they do. After all, everything stems from their wealth and what it is used to achieve.
The authors do make a point of comparing different periods of spending, and indeed they put it within the context of earlier overspending by other overseas groups settling here. And they spell out quite clearly the damage done to Russia by the way the oligarchs have siphoned money out of the economy, by moving it offshore and by spending it overseas. This can be seen to reflect the damage done to the UK economy by allowing so many ways for the wealthy to avoid tax obligations, though this is nowhere near on the scale of the Russian situation.
Although it's clear that trickle-down economics doesn't work in the present day, much of Britain's economy is skewed towards luring the super-rich to the UK with incentives that make this worthwhile only for those who make money out of money. The authors quote publisher William Cash's description of the British as 'the financial bag-carriers of the world': 'Britain's ruiling classes used to own the wealth. Now they've become the fee-earning servants, servicing the global financial elite'. This is very true not just in respect of Russian oligarchs, but of the monied from all nations.
But there are other consequences. As obscene amounts of money are pumped into certain areas of the domestic scene, this fuels inequality and imbalance. Also it breeds a quasi-parasitic service economy which is sustainable only while wealth is there to provide it with opportunities. Examples are given of a number of such enterprises, with quotes from those who run and work for them.
This study may read on the surface like an indulgent wallow in the adventures of the super-rich, but to come away with just that is to miss the strands the authors bring together in order to show that all this excessive spending has as much significance as the bomb-proofing and detection systems that come now as standard, as it were, for an oligarch's superyachts and limousines.
Of course, so much has happened since 2009, when this was first published, that the book lacks an updated assessment of the current state of play. But it's a valuable explanatory account of the early stages of the relationship between the UK, especially London, and oligarchal wealth.
The rise of the oligarchs in the first place makes for interesting reading for those like me who are new to the subject. The way that unscrupulous businessmen exploited the voucher scheme is credible only within the context of the effect on the populace of decades of the imposition of Soviet ideology. The biograhpies of the major players go on to show shifts in allegiances, and downright betrayals, which have created complexities witin the oligarch class. While Khodorkovsky languishes in prison, and Berezovsky criticises Putin from afar, Abramovich and Deripaska are seen to remain on-message. Meanwhile at least the elder Lebedev is shown to point critical darts at the Kremlin.
But these are just the big names, and many smaller characters are brought in for illustrative purposes. However, this is no closed, introspective community. The Anglo-Russian context is not neglected, nor is the danger ignored. We are reminded of Russian ruthlessness by the assassinations of Litvinenko, Politkovskaya and Klenbikov. And what of the death of Stephen Curtis, which begins the narrative?
One reviewer on this site has condemned the attention paid to the obscene displays of wealth by the oligarchs, but then if you want to understand them you need to see the extent of their spending and what it means. I admit it got a bit overwhelming for me too, but then just summarising it all wouldn't have worked. You need to feel just how overpowering the flow of money has been to appreciate why the oligarchs wield the influence they do. After all, everything stems from their wealth and what it is used to achieve.
The authors do make a point of comparing different periods of spending, and indeed they put it within the context of earlier overspending by other overseas groups settling here. And they spell out quite clearly the damage done to Russia by the way the oligarchs have siphoned money out of the economy, by moving it offshore and by spending it overseas. This can be seen to reflect the damage done to the UK economy by allowing so many ways for the wealthy to avoid tax obligations, though this is nowhere near on the scale of the Russian situation.
Although it's clear that trickle-down economics doesn't work in the present day, much of Britain's economy is skewed towards luring the super-rich to the UK with incentives that make this worthwhile only for those who make money out of money. The authors quote publisher William Cash's description of the British as 'the financial bag-carriers of the world': 'Britain's ruiling classes used to own the wealth. Now they've become the fee-earning servants, servicing the global financial elite'. This is very true not just in respect of Russian oligarchs, but of the monied from all nations.
But there are other consequences. As obscene amounts of money are pumped into certain areas of the domestic scene, this fuels inequality and imbalance. Also it breeds a quasi-parasitic service economy which is sustainable only while wealth is there to provide it with opportunities. Examples are given of a number of such enterprises, with quotes from those who run and work for them.
This study may read on the surface like an indulgent wallow in the adventures of the super-rich, but to come away with just that is to miss the strands the authors bring together in order to show that all this excessive spending has as much significance as the bomb-proofing and detection systems that come now as standard, as it were, for an oligarch's superyachts and limousines.
February 8, 2018
(+) An "intertwined biography" format of four Russian oligarchs based on London – an interesting format that I don't think I've ever encountered in a book. It allowed for stories intertwining their lives, which happens quite a lot in the small world on Russian businessmen/politicians.
(-) Not the fault of the book but rather my own underlying lack of knowledge – as I am unfamiliar with most of the key players in Russian politics I got lost and had to go back a number of times to figure out who's who.
(-) Got rather repetitive at times, there's only so many times you can read about someone buying a new house or overpaying for a yacht in the course of 400 pages. I particularly enjoyed the interactions between the oligarchs and the politicians, not so much in between.
Overall: Rather well-researched and content-heavy account of Russian oligarchs who happen to be based in London – and how they got where they are now. Could have been more concise, because of this I think it took me longer to get through than a book of that length should have. 3 stars.
(-) Not the fault of the book but rather my own underlying lack of knowledge – as I am unfamiliar with most of the key players in Russian politics I got lost and had to go back a number of times to figure out who's who.
(-) Got rather repetitive at times, there's only so many times you can read about someone buying a new house or overpaying for a yacht in the course of 400 pages. I particularly enjoyed the interactions between the oligarchs and the politicians, not so much in between.
Overall: Rather well-researched and content-heavy account of Russian oligarchs who happen to be based in London – and how they got where they are now. Could have been more concise, because of this I think it took me longer to get through than a book of that length should have. 3 stars.
October 31, 2018
The authors clearly have done their "homework" given by their "boss" Vladimir Putin. Why so? Because although the side about the oligarchs and their never-ending greed to waste more money while the people in Russia fight for their naked lives every day is very true - the other part of the story praising Putin and trying to make excuses about his criminal acts silencing opposition and killing those who oppose him just destroys all the work done.
April 28, 2022
Very interesting read. It gives you a very detailed idea of who the Russians in London are, when they came, how they live, where they live, their parties, their social aspirations, why they chose London, how they connect back to Moscow, their wives and women, the schools their children attend, their wealth management manipulations, their Russian language media, and much more.
Well worth a read if you are interested in the topic!
Well worth a read if you are interested in the topic!
August 16, 2025
The term 'Londongrad' comes up in trilogy I recently read. A senior spy uses the term disparagingly. My interpretation was 'Londongrad' is a term used to describe the network of those from Russia using their money to snuggle up to the Whitehall/Westminster mob.
The focus here is the splendour of their homes and their yachts - at times I felt as if it read more like a 'his is better/bigger than his' pedia. I tired of it toward the end.
The focus here is the splendour of their homes and their yachts - at times I felt as if it read more like a 'his is better/bigger than his' pedia. I tired of it toward the end.
January 25, 2019
The book was interesting at the beggining. But it completely got me dissapointed halfway through , and especially at the end .
It loosed a focus, somewhere in the middle of the book.
There is a small niche of "worshipping" the Russian capitalism and especially portraying in a good maner the little dwarf from Kremlin.
Tabloid newspaper of 500 pages.
It loosed a focus, somewhere in the middle of the book.
There is a small niche of "worshipping" the Russian capitalism and especially portraying in a good maner the little dwarf from Kremlin.
Tabloid newspaper of 500 pages.
March 3, 2024
Loved it, disagree with a lot of the negative reviews, if you're fairly new to Russia and the oligarchs this is a good starting point of hiw they acquired their wealth and how disgustingly rich they are.
May 20, 2020
Weird reading about it all given what I do for a job. Just madness.
February 17, 2022
Good. The oligarchs.
March 16, 2022
Occasionally insightful but overly focused on property descriptions and doesn't seem to have any sort of development. Reads like a gossip column written by a real esate agent.
May 1, 2025
I like the strength and fortitude of Russians regardless of how American movies portray them, which is just brain washing the masses.
There is nothing wrong with being smart nor wealthy.
There is nothing wrong with being smart nor wealthy.
September 26, 2017
Given the style of the book I'm surprised it has end notes. It felt rather like a Daily Mail article that had been turned into a book.
I enjoyed it because of my line of work. There's also a section in the index which lists my future employer - I wonder if they know.
Overall however I don't feel like it had much substance.
I enjoyed it because of my line of work. There's also a section in the index which lists my future employer - I wonder if they know.
Overall however I don't feel like it had much substance.
August 2, 2013
A book I had seen in the stores several times, I finally got around to buying it this year.
Journalism in book-form. The narrative is hard to follow in terms of time sequence, as events in many chapters overlap the others. And dates are not always clear.
Found a couple of errors of fact, which make me think the book could have been better researched or post edited. As far as I know the Le Havre ferry does not go to Folkestone...
The book ends in 2009, in the aftermath of the world financial crisis. And the authors' verdict is out on how seriously it affected the personalities they describe. The book seriously needs a new edition, to bring it up to date.
Putin is now back in power as president; is London still just as much the playground of the rich? The British private schools are still heavily populated by Russian rich-kids. And, of course, Putin's nemesis Berezovsky is no longer with us. Enough material for a new edition...
Journalism in book-form. The narrative is hard to follow in terms of time sequence, as events in many chapters overlap the others. And dates are not always clear.
Found a couple of errors of fact, which make me think the book could have been better researched or post edited. As far as I know the Le Havre ferry does not go to Folkestone...
The book ends in 2009, in the aftermath of the world financial crisis. And the authors' verdict is out on how seriously it affected the personalities they describe. The book seriously needs a new edition, to bring it up to date.
Putin is now back in power as president; is London still just as much the playground of the rich? The British private schools are still heavily populated by Russian rich-kids. And, of course, Putin's nemesis Berezovsky is no longer with us. Enough material for a new edition...
August 27, 2015
A book about how Russian oligarchs acquired and spen(t)(d) their money. Some reviews on here seem disappointed with the emphasis on the latter, but the book only provides what it promises. And even then it's also surprisingly extensive in describing Kremlin power struggles and the botched privatisation. If you're truly interested in that you can always read the academic literature or journalism on these topics.
August 9, 2011
If you're interested in reading about the products and services demanded by the "oligarchs" and don't mind that the "inside story" is rather incoherent, often badly-edited and at times repetitious, this is the book for you. What the book lacks in depth, it believes to make up for in breath as it name-drops at the turn of every page.
April 20, 2015
Very readable and entertaining. I feel like London journalists are especially good with these kinds of books, for some reason. They have a flair for the story American newspaper reporters usually don't. I think part of it was, they see the obvious dark humor in the story of the oligarchs and their disgusting piggish lives.
November 8, 2009
Fascinating insight into the world of the Russian Oligarch in London. How they get their money and how they spend it. Also the impact it has had on London prices and consumption. Absolutely gripping.
April 16, 2014
An entertaining read spanning the supposed privatization of Russian industry through the present day. You will learn about the lives of the handful of big players who got rich off of government oil contracts.
March 25, 2016
Great book for those interested in todays Russia, the functioning of the system and the connection of power/government/FSB (which are all the same) and oligarchs...
The great number of tasty facts gathered by authors show that there are no boundaries for people`s greed, envy and vanity.
The great number of tasty facts gathered by authors show that there are no boundaries for people`s greed, envy and vanity.
February 8, 2018
Excellent piece of work, well researched and an interesting read throughout, I've read pretty much every book on the subject and this is one of the best. Probably not ideal for someone who doesn't have an interest in the subject but if you do, get it.
January 3, 2017
Absolutely loved this and read it from cover to cover in one sitting. Superbly researched with a compelling and informative story throughout. If you're interested in Russia, organised crime or the London elite scene definitely give this a read, irregardless of your politics.
January 3, 2011
Very interesting....I learned a ton about the Russian oligarchs and how they came to be that way. Surprisingly enough, many live in our area of England.
November 20, 2012
Very funny and relaxing, readable in a few hours. I would not guarantee that all facts are actual facts.
Read
February 2, 2015An eye opener. made me think about subsequent news about people mentioned in the book.
March 9, 2013
Good Read. Well researched on 6 Glasnost Billionaires and how they quickly acquired such wealth
Read
June 3, 2016An interesting story about main Russian Oligarchs settled in London. Nice read for everybody.
Displaying 1 - 30 of 32 reviews