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Putin intervened, firing the CEO and replacing him with one who promised to recover the stolen assets. As confidence in the new management soared, so did the stock price, and eventually the value of Browder’s initial shares multiplied by 100 times. Browder and Putin repeated this dance as Browder’s fund grew, and Putin’s enemies suffered. Browder had an obvious financial interest in promoting investment in Russia, and he became one of Putin’s most outspoken cheerleaders. For a time, his views weren’t far out of step with those of many European and American experts, who thought Putin was willing to work with the West. (These were the days of George W. Bush looking Putin in the eye and seeing his soul.) But as Putin grew more authoritarian and the Western view of him dimmed, Browder continued to praise and defend him. In 2003, for example, a billionaire businessman named Mikhail Khodorkovsky was arrested for tax evasion and fraud and sent to a Siberian labor camp. Many observers in the West saw the move as a chilling abuse of power, the result of Khodorkovsky’s having publicly challenged Putin and supported opposition groups. But Browder came to the president’s defense. He wrote an article that was published in The Moscow Times arguing that “while there may be some things about Putin that we disagree with, we should give him the benefit of the doubt in this area and fully support him in his task of taking back control of the country from the oligarchs.” And then, abruptly, Browder himself learned what it was like to cross Putin.
For the original version including any supplementary images or video, visit https://www.theatlantic.com/magazine/archive/2017/01/the-poison-flower/508736/
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