Secretive Billionaire Bidzina Ivanishvili: Georgia’s 'Puppet Master'

Photo : ANI

Twelve years ago, when Bidzina Ivanishvili, Georgia's wealthiest man, entered politics, he promised to "astonish Europe" with the democracy he envisioned for his homeland. Now, as Georgia heads toward crucial parliamentary elections, the legacy of Ivanishvili’s influence is a topic of intense scrutiny, with many wondering about the impact of his rule on Georgia’s democratic future and international alliances.

Ivanishvili, a billionaire who founded Georgia's ruling party, Georgian Dream, has long been at the center of political power in Tbilisi. However, many critics argue that instead of steering Georgia towards a democratic European path, he has isolated the nation on the global stage and concentrated power within his close circle, curbing the influence of political opponents.

The European Parliament recently heightened tensions by calling for sanctions against Ivanishvili, accusing him of “undermining democracy” and working to shift Georgia’s stance away from Western alliances and toward Moscow. As election day approaches, eyes are on the reclusive 68-year-old, who continues to wield significant influence behind the scenes. If Georgian Dream wins again, the direction Ivanishvili might steer the country becomes even more relevant.

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Born into a poor family in the western Georgian village of Chorvila, Ivanishvili amassed his fortune during Russia’s privatization era in the chaotic 1990s, benefiting from the sale of state-owned Soviet assets. Forbes now estimates his net worth at $4.9 billion—roughly a sixth of Georgia’s GDP. Holding dual Georgian and French citizenship, he returned to Georgia in 2012 to form Georgian Dream, which soon gained a stronghold in national politics. Though he served as Prime Minister for just over a year, Ivanishvili’s influence has remained unbroken. He officially retired from politics after a short tenure but returned in 2023 as the honorary chairman of Georgian Dream, resuming his role as a key decision-maker and nominating prime ministers loyal to him.

Georgian Dream initially took a pro-Western stance, advocating for liberal reforms, but has gradually shifted, now espousing positions critics describe as anti-Western and anti-liberal. Transparency International’s Georgian branch recently released a report alleging that Ivanishvili, through Georgian Dream, has succeeded in “capturing all branches of power and independent institutions” within the nation. This control, according to the organization, has allowed him to maintain “near absolute power without any formal accountability.” By strategically placing his close associates—ranging from personal bodyguards to former CEOs of his companies and family doctors—in key state roles, Ivanishvili has fortified his influence over Georgia's law enforcement and security services.

Political analyst Gia Khukhashvili, once a close advisor to Ivanishvili, claims the billionaire treats Georgia as his personal empire. Khukhashvili describes Ivanishvili as “detached from reality,” surrounded by a group of “sycophantic favorites.” Echoing these concerns, Giorgi Bachiashvili, former head of Ivanishvili’s Co-Investment Fund, condemned his former mentor as a “power-drunk criminal” whose actions risk Georgia’s future by aligning it away from Western alliances.

Ivanishvili's business empire includes extensive property holdings in Georgia, as well as luxury real estate in New York and Paris. These assets are reportedly managed through a complex network of offshore companies, including his Georgian Co-Investment Fund, registered in Luxembourg. This fund manages high-profile projects across Georgia, from shopping malls and luxury hotels to cement factories, adding further complexity to his influence. Despite founding a charity that was once prominent in Georgia, Ivanishvili’s foundation has faced allegations of vote-buying and hasn’t published financial reports in recent years.

Residing in a grand glass-and-steel mansion overlooking Tbilisi, Ivanishvili is known for his opulent lifestyle. His estate includes a private zoo with exotic animals, an aquarium filled with sharks, and a collection of giant baobab trees shipped from Africa—a venture that reportedly cost millions of dollars.

In recent weeks, Ivanishvili has made headlines for his unusual campaign tactics, appearing at rallies inside a bulletproof glass booth with pre-recorded applause played to cheer his speeches. He has claimed Georgian Dream seeks a supermajority in parliament to enact a constitutional ban on pro-Western opposition parties. His campaign speeches are often laced with conspiracy theories, suggesting a so-called “global war party” controls Western institutions and aims to involve Georgia in the Russia-Ukraine conflict. Ivanishvili has also alleged that opposition parties, supported by foreign powers, are working to “seize power” by turning Georgia into a “second front” against Russia.

Last spring, Georgian Dream lawmakers introduced a controversial “foreign influence” bill, echoing Russia’s own stance on foreign-backed organizations. The proposed law targeted NGOs and media outlets and spurred weeks of widespread protests, which ultimately prompted the EU to freeze Georgia’s EU membership application process.

As the election draws near, opinion polls indicate that a coalition government may emerge, potentially bringing together four prominent opposition alliances. The results of Saturday's vote will likely shape the country’s foreign policy and domestic landscape for years to come, with the lingering question of Ivanishvili’s influence continuing to dominate Georgian politics.