Chapter 413 The Only King: Then let's issue new shares.

The president's office was dark, with only the curtains drawn. Sunlight slanted across the solid wood desk, casting diamond-shaped patches of light on the floor.

Because the backlighting was a bit dim, Wang Xiao only realized after walking in that the person standing in front of the president's desk was not Chubais, but Ivanov.

The president, sitting in a large chair, still wore a smile on his slightly puffy face, clearly enjoying his conversation with Ivanov.

He greeted Wang Xiao first, with a slightly teasing tone: "It seems that Moscow is really annoying; none of our ladies want to come back."

Wang Xiao didn't even bother with polite formalities, bluntly stating, "It's really quite boring; they make a huge fuss over the smallest things."

The president gave the familiar wry smile and sighed, "What can we do? That's just how they are."

Wang Xiao thought he was about to complain, but after he sighed, he asked with great interest, "Is Sakhalin fun this season?"

Although he is president, he has not visited every inch of Russia.

On the contrary, he felt trapped, as if the Kremlin were a large prison that had locked him inside, and he couldn't even catch his breath.

The campaign plan that Chubais and his team had devised for him required him to participate in a national speaking tour and travel all over the country with concerts.

This plan has now been rejected by his doctor.

So he could only ask with a hint of envy, "Is the island beautiful now?"

Ivanov nodded: "It looks beautiful. A little further north, it's all ice and snow, and a little further south, some land has already started to thaw. Our farm has started cultivating greenhouse vegetables."

The president was clearly trying to relax, because after hearing about the farm, he curiously asked, "You have a farm on the island?"

“Yes.” Ivanov nodded. He knew what the president liked to hear. “More than 90% of the agricultural products needed by the oil and gas field base are self-sufficient. We grow vegetables and raise poultry. The surplus is sold to shops in the city, nearby residents, and foreign tourists who come to the island.”

The president listened with increasing interest: "Foreign tourists will buy vegetables? Do they take them back to their home countries?"

“Yes, they will.” Ivanov said with certainty, “Vegetables and fruits are expensive in Japan, especially watermelons in the summer. Housewives who come here by boat for fun will take watermelons with them when they leave.”

The president remarked with deep emotion: "A family really can't do without a housewife; they are the most shrewd and meticulous in managing their finances."

Wang Xiao kept smiling to himself. Yes, these housewives are also the main clientele of male escorts, and they are very generous with their money.

Spend where you should, and save where you should.

The president was also quite concerned: "Are the vegetables and fruits easy to grow on the island? It's very cold there."

“It can be grown,” Ivanov explained. “There are hot springs on the island. When it’s cold, we can use greenhouses to grow vegetables and irrigate them with geothermal energy and hot spring water. The results are quite good. Moreover, Sakhalin is at a high latitude and has long hours of sunshine, so the vegetables and fruits grown when it’s warm are of very high quality.”

Seeing the president's enthusiastic expression, he continued, "We built processing plants to pickle the vegetables we couldn't finish, and made dried and freeze-dried vegetables."

He went on and on, “Freeze-drying is used to make pet food. We have a factory that specializes in producing pet food. We use vegetables that we grow ourselves, fish meat left over after harvesting caviar, and by-products from the slaughter of our own poultry and livestock. All the equipment is imported from Japan, and our exports are mainly to Japan.”

The president suddenly realized: "No wonder you can accept so many workers and their families."

Last year, the Sakhalin earthquake destroyed the Nevtegors oil field, leaving the surviving workers and their families with nowhere to go.

At the time, Deputy Prime Minister Soskowets, who was in charge of disaster relief, approached Ivanov, hoping he could help solve some of the problems.

After learning about the personnel situation, Ivanov simply waved his hand and accepted everyone.

When the president brought this up again, he smiled shyly and said, "They are all experienced oil workers who are perfect for working in oil and gas fields."

As for their families, food processing plants and farms are short-staffed. Like other parts of Russia's Far East, Sakhalin suffers from severe population outflow.

The president sighed again: "Mr. Soskowitz has a lot of praise for you."

Ivanov bowed and said, "He flatters me. It is my honor to be able to do something for the island."

The president himself came from a farming family and had a natural affinity for agriculture. He was very interested in the deep processing of agricultural products and continued the previous topic, asking, "Is it only exported to Japan? Are there no other countries? For example, China. I heard that Chinese people really like to keep Pekingese dogs."

Wang Xiao was taken aback, never expecting that he would notice such a trivial detail.

Everyone says the president knows nothing about the economy and doesn't care about economics at all, but the truth may not be so simple.

She shook her head: "There are indeed people reselling Pekingese dogs on the market. They were especially popular a couple of years ago, but it's more like a tulip mania, where prices are artificially inflated. In fact, the percentage of families in China that keep pets is still very low."

She explained, "Because most families in China currently have very tight housing conditions, very few families can leave enough space to keep pets."

What she didn't say is that, even in China today, a stylish young woman carrying a Pekingese dog is often seen as a typical mistress.

The president nodded, "Oh, I see. Ah, everyone's worried about housing. It's a pity, otherwise it would be a huge market."

Wang Xiao laughed: "The factory also exports products to China, such as fishmeal and soybean meal, which are in high demand."

The president's smile widened, and he asked with great interest, "What brand of pet food do you use? Do you sell it in stores? I want to let Yumer and Connie try it; they're both lively little guys."

He has a dog and usually enjoys spending time with the little guy.

Ivanov shook his head: "Only the shops at the ZIL Truck Factory and the Muscovite Automobile Factory have them."

The president laughed: "Can't sell them? Only for internal sales? God, you guys are the best at selling things. Your Majesty, your golden public relations skills are starting to fade."

Ivanov quickly explained, "We can sell them, but it's too troublesome to collect payment. If it weren't for the factory workers' request, I wouldn't even want to ship them here. Exporting directly to Japan and South Korea means faster payment and a guaranteed order quantity."

When he and Wang decided to build a pet food processing plant on the island, they were indeed eyeing the Russian domestic market. Economic downturns lead to a further decrease in human fertility, resulting in a resurgence of the pet economy.

Unfortunately, apart from a few major cities like Moscow, most of Russia today relies on barter trade, making it extremely difficult to open up markets.

The president's smile faded, replaced by a troubled expression: "This is terrible, not being able to collect payment is a real problem."

That's what makes him amazing.

He's like an incompetent patriarch, powerless to solve any problems for his children. But when he's there to share your worries, you can't help but forgive him, thinking it's just how things are.

At least for now, Wang Xiao didn't want to mock him or pressure him to find a solution to the problem.

Because she knew he couldn't do it.

The president, unable to do it, sighed twice and finally had no choice but to accept the reality: "Then let's find a way to expand exports."

He pressed on with anticipation, "Anything else? Is there anything else?"

In recent years, he has heard almost nothing but news of factories closing down and industries shrinking, including banks that are opening and closing at the same time.

The rare good news that production had resumed and workers were receiving their wages again was all provided to him by the young man in front of him.

Many people say he favors Ivan, but how could he not like this vibrant young man?

He believes that if Russia's new elites and businessmen all have such courage and drive, Russia's economy will surely recover and develop rapidly.

So now he looked at Ivanov expectantly and asked again, "Is there anything else?"

Ivanov was momentarily speechless.

To be honest, he didn't personally manage the production at the farm and processing plant, and if you asked him further, there were some things he really couldn't explain.

However, he quickly found a point to continue the conversation: "Also, we are currently selecting a site to build a power plant. The earthquake severely damaged the island's infrastructure, and the unstable power supply is fatal for the factory. We plan to build a power plant to meet the needs of our industrial production."

He said with relief, "There just happens to be a coal mine on the island, and the state government also supports our plans."

Because he agreed to sell the remaining electricity to urban commercial properties at national prices as a supplement.

The president's smile deepened, his obvious pleasure evident: "What size power plant do you plan to build?"

“Very large.” Ivanov hesitated for a moment before answering. “At least we need to reserve enough space because we will be building more factories later.”

Wang Xiao took out a large notebook from her bag, inside which was a hand-drawn planning map.

She laid it out on the president's desk and gestured for him to look, saying, "Our plan is to find a way to build it into a chemical industry kingdom."

To be precise, the drawing depicts Industrial Cthulhu, which was described by Wang Xiao and drawn by Ivanov.

In 1996, when it was shown to someone, even the well-informed Russian president, the Russian president who inherited the greatest legacy of the Soviet Union, couldn't help but stare at it intently.

Ivanov and Wang Xiao echoed each other: "Our idea is to take over Japan's chemical industry. Sakhalin has abundant oil and gas resources, as well as coal mines, and it is sparsely populated, which provides the geographical conditions for developing the chemical industry. It is very close to the Sea of ​​Japan, and Japan is currently transferring its highly polluting and energy-intensive chemical industries, such as ethylene and fertilizers, overseas."

He pointed to a corner of the planning map, "The ethylene → polyethylene → fine chemical industry chain is our initial concept. We hope to gradually turn the plan on the drawing into reality."

How could he not love Wang Xiao?

She always manages to plan everything in advance and tells him which direction to take next.

When he was with her, he was never confused, because he knew that every step he took had meaning.

The president grew increasingly curious as he looked around: "When do you plan to start construction?"

He felt a powerful shock that pounded in his heart.

But this time, his heart, which was constantly throbbing and had to forcefully endure the pain, felt not pain, but a warm embrace.

That is the power of hope.

Unfortunately, the great young man he admired was destined to disappoint him.

Ivanov shook his head: "This is just a plan, and we can't build it yet. The island's infrastructure has collapsed. We need to build a new port, power plant, and chemical plant. The initial estimate is that the total investment will exceed $30 billion."

Tyachenko couldn't help but exclaim in surprise, because Russia's foreign exchange reserves were only $4 billion last year.

$30 billion is such an astonishing figure, such a massive investment.

Ivanov sighed: "So this is our second phase of planning. In the first phase of industry, we mainly focused on the oil and gas industry. Existing port and power resources can only be used for oil and gas extraction and development."

He was genuinely disappointed because he knew that the window of opportunity for the relocation of Japan's chemical industry would definitely close in ten years. At that point, Sakhalin would have to find another way to develop its chemical industry.

The president also sighed, "It is indeed a big problem. Investment, we need a lot of investment."

Then, whether he was tired or lost in thought, he seemed to be in a daze and remained silent for a long time.

Just as Ivanov was about to exchange glances with Wang Xiao, the president suddenly spoke up again: "Then, issue new stocks and raise funds to do things."

Wang Xiao and Ivanov were both having trouble keeping up with his pace.

Are you kidding me? A plan that only exists on paper, raising funds by issuing stocks?

Even if they are capitalists, even if they have no humanity, they shouldn't do such immoral and outrageous fraud. It will shorten their lifespan.

Life is too short, and neither of them wanted to die young.

Ivanov refused without hesitation: "Sir, that won't do. We can't transfer the risk to uninformed investors. We'll eat what we can afford. We've already decided that after the power plant is built, we'll build the fertilizer plant, and complete it step by step."

The president genuinely laughed out loud this time, a smile that could only be described as radiant: "Then let's raise the money to build the fertilizer plant first. Issue stocks—"

He nodded and repeated, "Issue shares of Siberian Oil Company and Surgut Oil Company. Once you have the money, you can build a fertilizer plant."

Wang Xiao and Ivanov were both taken aback, a shock so great they couldn't believe their ears.

What does it mean when two oil companies issue shares at this time? It means that the original shares will be diluted, and they can directly purchase the newly issued shares.

In this way, even if the loan-for-equity deal falls through in the second half, the new shares they are buying now are real shares that no one can take away.

To put it simply, the president used this tactic to eliminate the risk of the loan-for-equity swap failing in advance, allowing them to acquire a large number of shares in the oil company at the lowest possible cost.

Ivanov and Wang Xiao exchanged a glance, Ivanov swallowed hard, and then stammered, "Is it okay?"

The president seemed amused by his reaction and joked, "You're not lying, you're definitely not a banker. A banker certainly wouldn't ask this kind of question."

He picked up a pen and began signing the presidential decree, muttering as he wrote, "Why not? People who are willing to get things done should always receive more support."

When they left the presidential office, Wang Xiao and Ivanov both felt like they were walking on cotton.

Everyone says that last year, the oligarchs participated in the auction and seized state assets as easily as playing a game.

However, having experienced both auctions, Wang Xiao and Ivanov felt compelled to defend the auction hosted by Chubais: they had followed the proper procedures.

Unlike them, who easily acquired shares with just a simple presidential decree.

The billions of dollars worth of national assets are a reward, a reward for the president's satisfaction with their actions.

The power and capriciousness of authority were on full display at this moment.

So when Wang Xiao walked out of the office and saw Korzhakov still waiting to meet the president, he felt speechless for the first time.

Korzhakov's gaze swept coldly across her face, meeting Dyachenko's eyes. His voice was flat, revealing no emotion: "Tatiana, you will regret it. You will regret not stopping your father, instead encouraging him to make a deal with the devil. What you are doing now is like burning the whole house to drive away lice. Russia will be utterly destroyed, destroyed by the devil. And you are the ones who opened the door and let the devil into the house."

Dyachenko pursed her lips, neither refuting nor crying.

As Wang Xiao said, everything was beyond repair, and anything she said would be meaningless.

Instead, Wang Xiao sighed and nodded to the outgoing Chief of Staff of the Kremlin: "Sir, I wish you all the best in any case. I believe in your loyalty to the President and to Russia. You are a good man."

She silently added in her heart, "History will prove you right. Unfortunately, your insistence on right and wrong is meaningless to the current president."

Because politics is about interests, not right and wrong.

The president now only wants to be re-elected. Even if there were a cup of poison in front of him, he would drink it without hesitation as long as it could quench his thirst.

Wang Xiao nodded and left. As he walked to the end of the corridor, Chubais, who was waiting in the room, eagerly poked his head out: "So? What did the President say?"

Wang Xiao shook his head: "The president didn't mention anything about last night. We only talked about the scenery on Sakhalin Island."

Khodorkovsky was really going crazy. Could it be that missing the point is contagious?

He couldn't help but scoff, "My God, you guys are talking about Sakhalin? I thought you'd be talking about red pandas."

Wang Xiao looked at him seriously and nodded: "Good idea. I will definitely invite the president after the pandas arrive, so we can have a good chat about the pandas."

Nemtsov chuckled and offered, "Then I wonder if I would have the honor of seeing your red panda?"

Wang Xiao nodded: "A reservation is fine. The little panda is a bit timid and doesn't like too many people."

Nemtsov smiled flirtatiously: "Then I'll be the first to book. I want to be the first one."

Ivanov was grinding his teeth in exasperation when Khodorkovsky said impatiently, "God, can you guys please stop talking about red pandas right now?"

As soon as he finished speaking, a commotion of footsteps sounded ahead, and then a photographer carrying a camera and a reporter holding a microphone came into view.

Surrounded by guards, the president walked straight to the balcony above Lenin's Mausoleum, which faces Red Square, before Wang Xiao and the others could even react to what was happening.

Moscow residents and foreign tourists strolling in Red Square gasped in surprise when they saw him appear.

Some people were waving frantically in his direction, shouting his name: "Boris!"

The president waved to the crowd, but instead of smiling, he picked up the microphone with a serious expression.

"Citizens of Russia! In the name of the President of Russia, I hereby announce an important decision: Alexander Vasilyevich Korzhakov is dismissed from his post as head of the Federal Guard Service, and Mikhail Ivanovich Barsukov is dismissed from his post as head of the Federal Security Service!"

As soon as he finished speaking, everyone was stunned.

Even Wang Xiao, who was certain that Korzhakov was finished, did not expect the president to announce the matter in such a public speech.

Is he afraid that he might change his mind, so he's not leaving himself any room for maneuver?

Wang Xiao's gaze unconsciously found Dyachenko again, and he saw the same shocked face.

A politician is a politician; even his most beloved youngest daughter cannot easily fathom his thoughts.

After announcing this earth-shattering decision, the president did not turn and leave, but continued to emphasize: "Their actions have severely disrupted the Russian electoral process and violated the rule of law! I want to emphasize that the Russian election will not be postponed! It will be held as scheduled! I swear on my honor and duty that I will risk everything to defend Russia's democratic system and to safeguard the free choice of every Russian citizen! Any force that attempts to undermine this process will be resolutely eliminated!"

Cheers erupted from below the balcony as excited fans and foreign tourists clenched their fists, waving them upwards and shouting, "Boris! Boris! Boris!"

The crowd grew larger and larger, with people constantly running from the perimeter of the square and even further afield, shouting his name.

Foreign tourists, in particular, seemed more excited than the Russian citizens.

This is the demeanor they imagine a democratic president should have.

The president kept waving his arms, the setting sun shining on him and the supporters below the balcony, as if everyone was enveloped in holy light.

Wang Xiao reacted quickly, ran forward as fast as she could, and ordered the photographer as soon as she reached him: "Take the picture! You have to capture a truly unforgettable moment!"

This photo, like the president's highlight moment during the 819 crisis, should become a key image in later propaganda.

The photographer kept snapping photos.

Fortunately, he was quick-witted and nimble, because right after he finished taking the picture, the president got tired and turned around and slowly walked towards the Kremlin.

He noticed the reporters were still following him and smiled, saying, "What are you all still doing here? Hurry up and publish the news."

The reporters then snapped out of their daze and began running frantically.

Good heavens, this is such earth-shattering news! The president has fired his most trusted bodyguard!

The president strolled slowly toward his office.

Chubais watched the president leave.

Never before had he felt so clearly that he was the king of Russia, the ruler of the country, and that he controlled everything in the country.

Only when the president's figure disappeared around the corner of the corridor did Chubais snap out of his daze and rub his cheeks vigorously.

He hasn't slept a wink since last night, but that hasn't diminished his determination to immediately throw himself into battle.

"Gentlemen, I need to hold a press conference to clarify the rumors and fight for your reputations."

He turned his gaze to Wang Xiao, "Miss Wang, let's come together."

Although he had a falling out with the oligarchs at the Sparrow Hills Club, she still made a special trip back from Sakhalin Island when everyone was at a loss.

Therefore, we can turn the page on what's past.

Wang Xiao shook his head: "No, I'm too tired. I need to go back and rest. Besides, my face isn't suitable for appearing at a press conference."

In a predominantly white population, an East Asian face stands out so jarringly.

Why should she bother with such a meaningless display of attention?

Chubais understood the subtle nuances of national sentiment, so he nodded to her and said, "Then you should get some rest."

Flying around is indeed tiring, especially since you have to constantly use your brain to analyze the situation and adopt strategies.

Wang Xiao waved and walked away, his arm linked with Ivanov's.

Although she said she was going back to rest, in reality, it was impossible for her.

The boss had been gone for a week, and a pile of documents arrived, waiting for her and Ivanov to review them.

My eyes were spinning from reading all the documents, and even after that, I couldn't get a break because Chubais's press conference had begun.

Even if Wang Xiao doesn't go to the event, she still needs to know how the press conference is progressing.

On television, the reporter asked what was going on with that box of money.

$500,000 is no small sum.

Chubais remained calm: "That was all a frame-up. The money was put there beforehand. All those dirty tricks they played—the searches, the seizures, the intimidation—were all common tactics used by the KGB during the Soviet era! They wanted to drag Russia back to that dark, unfree era! But the Russian people chose freedom and democracy, and no ghost of the old era can stop us from moving forward!"

Wang Xiao burst into laughter: "Gentlemen, you've really mastered it. Look, no matter what happens, no matter how complex the problem is, no matter where the root cause lies, the final solution and explanation are always the same—'It's all the Soviet Union's fault.' Simple, brutal, and effective. The people love to hear it, and it saves them the trouble of thinking."

Ivanov remained silent, simply watching her.

The light and shadow flickered on her face, and her smile, though tinged with mockery, still made his heart race.

The press conference finally ended. Perhaps the reporters were biased towards Chubais, or perhaps they had received bribes beforehand, because no one asked any pointed questions.

This can be considered a final conclusion to this turmoil.

Wang Xiao yawned, stretched, and swayed as he prepared to go back to his room to sleep.

Ivanov stopped her, whispering suggestively in her ear, "Hey! Honey, I have condoms. What flavor do you like?"

Wang Xiao directly blocked his advancing chest with her hand and shook her head in refusal: "NO!"

"Why?" Ivanov exclaimed anxiously, "Only one day has passed! I'm not old or ugly yet!"

Wang Xiao couldn't help but laugh out loud; he was really funny.

"Hey, hey, stop laughing, darling, you're hurting my pride." He cupped Wang Xiao's face and pleaded, "Tell me, why? Is it because you're too tired today? Then it's okay, you can do it tomorrow too."

Wang Xiao shook his head: "No, you misunderstood me. I mean, it's not allowed."

Ivanov was truly going crazy: "Why? Everything was fine last night."

Good heavens, why didn't he prepare condoms last night? He feels like he missed out on 1 billion, no, 10 billion, 100 billion!

Wang Xiao sighed and looked intently into Ivanov's eyes: "Because I've thought about it carefully, if I sleep with you, I'll be very tired, and you'll be very tired too. We both want to appear perfect in front of each other. We'll turn something that should be a happy occasion into a heavy burden."

“No need,” Ivanov kissed her forehead and ears, trying to bewitch her. “You are already perfect, you are perfect no matter what.”

Wang Xiao remained unmoved: "No, that's all empty talk. I don't think that way. Besides, don't you want to appear perfect in front of me? Don't you want every moment to be unforgettable for me, without any regrets?"

Ivanov hesitated; he was used to telling the truth in front of the king.

He couldn't lie, and of course he wanted to.

He had even planned it out: he had to wake up before Wang did, take a shower, and spray some perfume, making sure Wang didn't faint from sweating during sex.

Wang Xiao reached out and tapped his chest: "Right, right, you must be feeling pressured. Why should we put pressure on each other? We already work so hard. Chatting with you every day and watching TV together is the most anticipated leisure time of my day. Are we going to ruin this precious time of relaxation?"

Ivanov pouted, looking utterly aggrieved: "No, you just dislike me. Why is it that Wu Haoyu can do everything?"

Hmph! He saw it when he was celebrating the New Year in Jinning. Wu Haoyu's eyes were not innocent at all when he looked at her; he still couldn't forget her.

Wang Xiao rolled her eyes: "Because I don't care. I've never thought about being perfect in front of him. I do whatever makes me happy, and I don't care what he thinks of me."

It's just a date. If it doesn't go well, there won't be a next time.

Ivanov was still fuming: "And what about him? Doesn't he try to be perfect in front of you? Doesn't he feel pressured? Doesn't he have a hard time?"

"Why should I care if he's under pressure or not?" Wang Xiao was utterly speechless. "Who is he to me? Why should I care if he's under pressure or if he's having a hard time?"

She only uses sweet words to people because she's had a good sleep and wants to sleep a few more times.

Ivanov looked at her suspiciously: "You ignore him, but only care about me?"

Wang Xiao nodded matter-of-factly: "Of course, you are Ivan. There is only one Ivan in the world, the one and only Ivan."

With a "bang," fireworks burst forth in Ivanov's heart.

It wasn't a Gatling gun, nor was it a colorful cloud display; it was the kind of fireworks that Wang Xiao described, performed using drones.

His ears turned bright red, and with a hint of shyness, he looked at Wang Xiao with sparkling eyes: "So, you're saying I'm more important than all of them?"

"Aren't you just spouting nonsense?" Wang Xiao nodded firmly. "How could anyone be more important than you?"

Ivanov nodded with satisfaction: "I knew it would be like this, I must be the best."

Wang Xiao yawned again: "Then there's no problem, let's go to sleep."

With that, she staggered off to sleep.

She was truly impressed by Ivanov.

This natural sense of well-deservedness is so rare.

Aside from feeling inferior when it comes to national and ethnic policies, and from feeling anxious and uncertain about the Soviet Union, at any other time, in his personal life, he always believes he is the best and most outstanding.

How can someone be so confident? So lucky.

That self-confidence must be cultivated from growing up in love and constantly receiving affirmation.

How happy.

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[Let me see] In real history, in 1996, Yeltsin decided to expel Korzhakov, Barsukov, Soskovets, and the entire "pro-war faction." Yeltsin announced this on television. In a somber, monotone tone, he said, "I have been criticized because of Korzhakov, Barsukov, and Soskovets. Is the president serving them? They greedily seize without wanting to give."

In the novel, Soskowitz was not affected by this incident because he was eliminated early.

Furthermore, the tactic of issuing new shares ahead of time did indeed occur in real history, with Mikhail Khodorkovsky as the protagonist. During the turmoil of 1996, he cleverly secured early control of Yukos. He had Yeltsin issue an order allowing him to repay the subsidiary's debts by issuing new shares in Yukos. Simply put, this meant one-third more shares were outstanding. The result of issuing new shares was that Khodorkovsky's holdings of government bonds dropped from 45% to 33%. Then, Khodorkovsky appeared at the other end of the counter and bought the new shares. At this point, he had acquired the majority of the shares, reportedly worth $100 million. Combined with his large purchase at an investment auction in 1995, Khodorkovsky controlled over 51% of the company. Crucially, no one could take it from him—Khodorkovsky had already secured a "second set of keys" even before the official ceremony.