![]() ![]() Browder, a veteran of firms like Salomon Brothers, had made huge money in Poland investing in newly privatized state-owned companies after the 1989 collapse of communism. The story of Hermitage’s takedown is the story of a vicious battle between those who believed they could get rich by living within the rules and helping guide Russia toward freer, law-based markets, and those like the oligarchs (and the Kremlin elite today) who wanted to get even richer by remaking the rules altogether. The next year he was expelled from Russia, his company was raided and control was handed over to a group of Russian nationals. Browder was a winner: His hedge fund, Hermitage Capital, managed $4.5 billion in assets at its height in 2004. Photo credit: Getty Images.įor years, Mr. Hermitage Capital CEO Bill Browder on his new book, “Red Notice,” and getting on the wrong side of the Russian dictator. ![]()
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