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Forbes Billionaire Listed Georgian Business Tycoon to Get Listed on Elections 2012

Published: October 5, 2011 | 8:15 pm
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Bidzina Ivanishvili to form a political party


Famous Georgian business tycoon, Bidzina (Boris) Ivanishvili declared about his intention to get involved in politics. The press office of his company Kartu Group has published a small excerpt from the official statement, the full text of which will be published later.

“I have decided to form a political party and take part in the 2012 parliamentary elections,” the statement says.

Georgia’s seemingly uneventful fall season got its first surprise; a reclusive Georgian billionaire has inserted himself and his fortune into the country’s political scene.

The 55-year-old businessman ranks as the second billionaire to take the plunge into Georgian politics. Badri Patarkatsishvili unsuccessfully challenged President Mikheil Saakashvili’s rule in 2008 and died in London the same year.

According to Forbes Billionaire List 2011, Ivanishvili’s estimated fortune stands at $5.5 billion

Ivanishvili so far has refrained from direct attacks on Saakashvili, but in earlier statements he argued that the main roles in Georgia’s political theater are divided among the ruling establishment, a real opposition and a fake opposition.

Bidzina Ivanishvili began building his empire in 1990 when, with partner Vitaly Malkin, he set up Rossiysky Kredit Bank. Over the years, sold businesses he accumulated during Russia’s privatization era including ore mining and metals interests; invested proceeds in Russian stock market. Also has interests in elite real estate project in Moscow and two 5-star hotels. Owns Russian drugstore chain Doctor Stoletov. Collects the Impressionists; his most expensive painting is Dora Maar with Cat by Pablo Picasso, which he bought at Sotheby’s in 2006 for $95 million. Last year he received French citizenship, adding to his Russian and Georgian passports. Lives in the Georgian village of Chorvila, where he was born.



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