Who is Bidzina Ivanishvili? The reclusive billionaire behind Georgia's ruling party

Georgia's ruling Georgian Dream party on Saturday (Oct 26) claimed victory in the country's parliamentary elections. Behind the party is Bidzina Ivanishvili, a reclusive billionaire who runs the country from behind the scenes. Here's all you need to know about him.

"I assure you, our country will achieve great success in the next four years," he told his supporters after claiming victory.

Who is Ivanishvili?

Bidzina Ivanishvili, the 68-year-old oligarch, is Georgia's richest man and founder of the ruling Georgian Dream party.

Ivanishvili entered Georgian politics 12 years ago. Back then, he promised to transform the country's democracy, reports news agency AFP. However, critics argue that he has driven the nation into isolation, "undermining democracy" and aligning closer with Russia.

Also read | Georgia's ruling Dream party wins majority with 70% of precincts counted

In recent weeks, Ivanishvili has intensified anti-Western rhetoric, accusing opposition parties of conspiring with a so-called "global war party" and trying to draw Georgia into conflict with Russia. 

Born into poverty in western Georgia, Ivanishvili amassed his $4.9 billion fortune in Russia during the chaotic 1990s. He briefly served as prime minister in 2012 — serving for over one year.

According to Transparency International's Georgian branch, Ivanishvili has "near absolute power" without formal accountability. 

Georgian Dream has "managed to gradually capture all branches of power and independent institutions in the country," said the group in May.

"The arrangement allows Ivanishvili to have near absolute power without any formal accountability," it added.

The oligarch wields influence behind the scenes, often through loyal associates — such as personal bodyguards, ex-CEOs of his companies, personal assistants and family doctors  — who fill key government roles "with law enforcement and security services being the key".

Also read | Georgia votes in high stakes election as voters decide between West and Russia

Ivanishvili's lifestyle is as extravagant as his influence is extensive. His mansion in Tbilisi features a priceless collection of contemporary paintings, a modern art collection, exotic animals, and baobab trees transported from Africa. 

His holdings extend far beyond Georgia, with luxury properties in Paris and New York under offshore entities. Ivanishvili's Co-Investment Fund, based in Luxembourg, operates projects across Georgia, from luxury hotels to industrial factories.

(With inputs from agencies)