Bidzina Ivanishvili

Bidzina Ivanishvili
Bidzina Ivanishvili
Born	February 18, 1956 (age 70); Chorvila, Imereti, Georgia
Other names	Boris Grigoryevich Ivanishvili
Occupation(s)	Businessman, politician
Years active	1988–present
Known for	Founder and leader of Georgian Dream; Prime Minister of Georgia (2012–2013)

Bidzina Ivanishvili (; born 18 February 1956), also referred to as Boris Grigoryevich Ivanishvili, is a billionaire oligarch, businessman, and politician holding dual French-Georgian nationality. He is the founder and leader of the ruling Georgian Dream party, which has been in power since its victory in the 2012 Georgian parliamentary election. Beginning in 2024, Ivanishvili has faced sanctions from the United States and multiple European Union nations for actions described as "weakening Georgian democracy and promoting the interests of the Russian Federation."

As Georgia’s wealthiest person, Ivanishvili’s estimated net worth reached $7.6 billion in 2024, representing nearly a quarter of the country’s GDP in 2023. His wealth originated in Russia during the 1990s through computer sales and strategic acquisitions of undervalued banking and metal industry assets amid post-Soviet privatization efforts. He moved to France in 2002, where he acquired citizenship.

Ivanishvili entered the political arena in 2012 by establishing Georgian Dream, which successfully unseated the then-ruling United National Movement led by President Mikheil Saakashvili. He held the office of Prime Minister from October 2012 until November 2013 before retreating from official political roles, though he was widely viewed as the influential figure behind political decisions. After resuming leadership of his party in 2018, he again stepped back in 2021 but reemerged politically at the end of 2023 as honorary chairman of Georgian Dream.

Early life and education

Born in Chorvila, a village situated in Georgia’s Imereti region, Bidzina Ivanishvili was the youngest among five siblings in a family facing economic hardship. His father was employed at a manganese processing plant. Experiencing poverty firsthand allowed Ivanishvili to relate closely to rural Georgians, which contributed to his electoral success in 2012.

He completed his secondary education in Sachkhere and graduated from the Faculty of Engineering and Economics at Tbilisi State University in 1980. Two years later, in 1982, he began doctoral studies in economics at the Moscow State University of Railway Engineering.

Business career

In 1988, Ivanishvili established one of the rare private cooperatives permitted within the Soviet Union during that era. While residing in Moscow before 1990, he collaborated with Russian entrepreneur Vitaly Malkin to trade computers and import push-button telephones—then a novel technology. The profits generated from these ventures enabled them to purchase valuable metals and banking assets during Russia’s privatization period, laying the foundation for Ivanishvili’s considerable fortune.

Early political career

Ivanishvili became part of Semibankirschina in 1996—a coalition of powerful Russian bankers who supported Boris Yeltsin’s re-election campaign. He backed Alexander Lebed’s presidential bid as a strategy to divert votes away from Communist candidate Gennady Zyuganov. Although his support for Lebed—who was associated with the April 9 tragedy—was criticized within Georgia, Ivanishvili defended his stance as opposing a Communist comeback and fostering Georgian sovereignty.

After relocating from Russia to France in 2002, Ivanishvili returned to Georgia in 2003. Upon his return, he quietly began distributing consumer goods and promising free healthcare initiatives within his native region while maintaining a low public profile. He also financed construction of Tbilisi's Sameba Cathedral, an effort later disclosed by former President Eduard Shevardnadze.

According to Mikheil Saakashvili's advisor Raphaël Glucksmann, Ivanishvili supported the Rose Revolution and contributed approximately US$1 billion towards post-revolution reforms and development projects across Georgia. His funding extended to police reforms and infrastructure enhancements. Analysts suggest that his involvement was partly motivated by rivalry with oligarch Badri Patarkatsishvili—an adversary of Saakashvili—with whom Ivanishvili reportedly aligned himself alongside Interior Minister Vano Merabishvili, although he also met with Saakashvili personally.

By early 2008, Ivanishvili had distanced himself from Saakashvili’s administration, potentially due to decreased reliance on state resources following Patarkatsishvili's death. Citing mounting pressure from Saakashvili’s government, he withdrew financial support for government-led initiatives.

2012 parliamentary election

Prior to his political engagement, Ivanishvili was frequently approached by opposition figures to spearhead their campaigns. In January 2008, Shalva Natelashvili, leader of the Labor Party, indicated he would offer Ivanishvili the prime minister position if he secured victory in the presidential race, although it remained uncertain whether Ivanishvili accepted this proposal. This stance contrasted with Natelashvili’s 2006 claim accusing Ivanishvili of financially supporting Saakashvili.

On 7 October 2011, Ivanishvili declared his plan to lead the opposition in the upcoming 2012 parliamentary elections, criticizing President Saakashvili for what he viewed as authoritarian tendencies. He committed to relinquishing his French and Russian citizenships and divesting from his Russian business interests. His bank, Rossiysky Kredit, was sold for $352 million to prominent Russian financiers; his pharmacy chain Doktor Stoletov was acquired by Imperia-Pharma for $60 million; and his agricultural enterprise Stoilenskiy Niva was also liquidated.

Four days following this announcement, Georgian officials revoked Ivanishvili’s citizenship in accordance with national legislation. A Tbilisi court upheld this revocation in December 2011 but reinstated citizenship for his wife, who subsequently declared her intention to run for a parliamentary seat.

On 21 February 2012, Ivanishvili established the Georgian Dream coalition by merging his proposed party with the Republican Party, Our Georgia – Free Democrats, and the National Forum. The coalition’s program featured a 12-point agenda emphasizing liberal democratic values, integration with the European Union and NATO, as well as reforms in education and healthcare sectors. Industry Will Save Georgia joined the alliance on 11 April.

The Georgian Dream party was officially founded on 21 April 2012. Due to Ivanishvili’s lack of Georgian citizenship at that time, Manana Kobakhidze acted as interim chairperson. The party’s platform prioritized revitalizing agriculture, reducing tax burdens on low-income citizens, implementing universal health coverage, restoring diplomatic relations with Russia, and deepening cooperation with the EU and NATO.

Bringing together a spectrum of political groups—from pro-market liberals to nationalist factions—the Georgian Dream coalition united around opposition to Saakashvili’s United National Movement. The coalition’s name was inspired by a rap track performed by Ivanishvili’s son Bera.

Forbes estimated Ivanishvili’s personal fortune at $6.4 billion, surpassing Georgia’s national budget of $5.7 billion. During the campaign period, he distributed household items in his hometown. Volunteers circulated flyers encouraging voters to embrace affordable "Georgian dreams," suggesting material incentives for electoral support. In June 2012, an administrative court imposed a $90 million fine on Ivanishvili for breaching political party financing regulations; this penalty was later halved to $45 million upon appeal. The court determined that he had utilized offshore entities connected to him to unlawfully fund Georgian Dream. Additional fines exceeding $12 million were levied for irregular contributions linked to his business and media interests. These judicial decisions attracted criticism for lacking sufficient evidence and restricting Ivanishvili’s ability to mount an effective legal defense.

In the parliamentary elections of 2012, Georgian Dream secured victory over the incumbent United National Movement with 54.97% of votes cast. Public celebrations ensued across Tbilisi, while Saakashvili conceded defeat but continued to oppose the coalition government.

Prime Minister of Georgia (2012–2013)

On 25 October 2012, Bidzina Ivanishvili took office as Prime Minister, marking the first peaceful transfer of power in Georgia's recent history.

His administration prioritized increasing social expenditures while upholding fiscal discipline. In February 2013, the government introduced the Universal Healthcare Program (UHP), initially covering emergency outpatient and inpatient services. This initiative was later broadened to include primary healthcare, surgical procedures, cancer treatments, and maternity care—substantially expanding state-funded health coverage.

Allocations for pensions, social welfare, and education were also raised. June 2013 saw the adoption of a new Labour Code designed to meet International Labour Organization standards.

During Ivanishvili's leadership, essential reforms from the Saakashvili period were preserved, sustaining a market-oriented economy complemented by an effective social protection system.

The government undertook significant prison reforms after the previous zero-tolerance approach resulted in overcrowding and human rights violations. In response to the 2012 Gldani prison scandal exposing prisoner abuse, amnesty laws were enacted that reduced inmate numbers by half, healthcare services in prisons were enhanced, and cumulative sentencing was abolished in April 2013.

To confront abuses committed by former administrations, over 20,000 grievances were lodged concerning past violations including torture. Thirty-five ex-officials faced charges ranging from misappropriation to abuse of authority; among those detained was ex-Prime Minister Vano Merabishvili. Addressing human rights violations became a central promise after the Gldani revelations.

Ahead of the 2013 anti-homophobia demonstration in Tbilisi, Ivanishvili publicly affirmed that sexual minorities hold equal citizenship rights and expressed hope for broader societal acceptance.

In 2013, despite appeals from the Georgian Orthodox Church to prohibit abortions due to demographic concerns, Ivanishvili rejected this stance, emphasizing that economic growth was the appropriate solution.

Contrary to forecasts of a return to corruption and crime reminiscent of the Shevardnadze era, Ivanishvili’s term witnessed progress in Transparency International’s Corruption Perception Index and improvements in Freedom House’s Freedom in the World rankings.

Foreign relations

Under Ivanishvili’s leadership, Georgia enhanced its relationship with the European Union. His inaugural foreign trip as Prime Minister was to Brussels in November 2012. That year, the EU initiated visa discussions with Georgia and presented a Visa Liberalisation Action Plan (VLAP) in February 2013. The first progress evaluation in November 2013 highlighted notable achievements. By July 2013, negotiations between Georgia and the EU concluded successfully on a Deep and Comprehensive Free Trade Area (DCFTA).

In January 2013, Georgia and Turkey signed an agreement facilitating cross-border electricity trade via new interconnection projects.

Relations with Russia experienced some thawing. In December 2012, officials from both nations held their first bilateral talks since the 2008 conflict. Ivanishvili appointed Zurab Abashidze as his special envoy for managing ties with Russia. In June 2013, Russia lifted its seven-year embargo on Georgian wine exports. Despite these economic improvements, Deputy State Minister Tamar Beruchachvili reiterated that European integration remained Georgia’s "strategic priority," with no intention of joining the Eurasian Economic Union. Formal diplomatic ties with Russia remained severed.

Ivanishvili characterized his approach towards Russia as "pragmatic," seeking to reduce tensions while maintaining a "principled" position. However, the former ruling United National Movement criticized him for being overly conciliatory and accused him of harboring pro-Russian sympathies, branding him a "Kremlin agent." Ivanishvili maintained that he would safeguard Georgia’s national interests but would abandon confrontational policies.

First resignation (2013–2018)

After Giorgi Margvelashvili, the Georgian Dream candidate, won the 2013 presidential election, Bidzina Ivanishvili declared his intention to step down as Prime Minister. On 20 November 2013, having served just over a year, he resigned and was replaced by Interior Minister Irakli Garibashvili, whom Ivanishvili had designated as his successor earlier that month. He announced plans to transition back to the private sector and to establish a non-governmental organization. Four days following his resignation as prime minister, Ivanishvili also relinquished his role as Chairman of Georgian Dream.

Garibashvili commended Ivanishvili for creating a "unique precedent" by departing office while still enjoying significant popularity and influence. Despite this, critics continued to regard Ivanishvili as the unofficial power behind the government, accusing him of exerting control from behind the scenes without holding formal office. Among the four prime ministers who followed Ivanishvili, three had previously overseen his business enterprises. Numerous senior officials maintained close connections to him: Interior Minister Vakhtang Gomelauri and Special State Protection Service Chief Anzor Chubinidze had served as his personal bodyguards; Prosecutor General Shalva Tadumadze acted as his family’s legal counsel; Health Ministers Ekaterine Tikaradze and Davit Sergeenko had managed a hospital funded by Ivanishvili.

A 2015 report by Transparency International Georgia revealed that at least 38 public officials had prior employment with companies affiliated with Ivanishvili. Although this was legally permissible, it intensified accusations that he wielded informal influence over government appointments based on loyalty.

Ivanishvili dismissed claims of informal governance, emphasizing that he merely offers advice which may or may not be adopted.

Following his departure from the premiership, Ivanishvili pursued his passion for rare tree species. In 2016, he initiated the development of the Dendrological Park in Shekvetili along Georgia’s Black Sea coast, which opened to visitors in 2020. The 60-hectare arboretum features 200 varieties of imported trees and hosts 58 species of exotic birds such as flamingos and pelicans. Many of these trees—some exceeding a century in age—were transported via rafts along the coastline after being relocated from coastal zones. This process involved clearing other vegetation and constructing access roads, provoking protests from environmental activists and political adversaries who accused Ivanishvili of causing soil erosion and ecological harm. The project’s controversy was captured in Salomé Jashi’s 2021 Georgian documentary Taming the Garden.

In March 2016, Ivanishvili gained international attention by uprooting and moving a century-old tulip tree weighing approximately 650 tonnes from Adjara to the arboretum. The incident went viral on social media and drew criticism from environmentalists concerned about the tree’s survival prospects. Opposition figures ridiculed his enthusiasm for exotic plants as eccentric.

Chairmanship of Georgian Dream, second resignation (2018–2023)

In 2018, Ivanishvili re-entered politics, being reappointed chairman of Georgian Dream on 26 April to preserve coalition cohesion.

During his hiatus, Georgian Dream finalized an Association Agreement with the European Union and achieved visa-free travel for Georgian citizens. Despite accusations from opposition parties labeling it "pro-Russian," the party maintained its stance as of 2017. Ahead of the 2018 presidential election, Georgian Dream backed independent candidate Salome Zourabichvili instead of fielding its own contender. After Zourabichvili failed to secure an outright victory, Ivanishvili cautioned against electing opposition candidate Grigol Vashadze due to concerns about potential pardons for controversial individuals. The Cartu Foundation, owned by Ivanishvili, committed to settling debts for approximately 600,000 citizens—a move criticized as an attempt at vote buying.

In June 2019, protests erupted in Tbilisi after a Russian parliamentarian delivered a speech from the Georgian parliamentary speaker’s chair—a gesture perceived as emblematic of public discontent with government efforts to "normalize" relations with Russia. Several key officials resigned amid the turmoil. Responding to these protests, Ivanishvili announced electoral reforms introducing fully proportional representation and lowering vote thresholds for the 2020 parliamentary elections. However, majoritarian MPs within Georgian Dream blocked these reforms in November 2019—reportedly following Ivanishvili’s directive—due to fears of losing power. The rejection triggered renewed demonstrations and defections within the party. Ultimately, a compromise was reached implementing a mixed electoral system with increased proportional elements.

On 11 January 2021, amid ongoing political instability, Ivanishvili stepped down once again as chairman of Georgian Dream, declaring that his political objectives had been fulfilled.

Following opposition leader Nika Melia’s arrest warrant and refusal to post bail, Prime Minister Giorgi Gakharia resigned in February 2021 over disagreements concerning Melia’s detention enforcement. Gakharia was succeeded by Irakli Garibashvili—widely regarded as an ally close to Ivanishvili—prompting speculation about Ivanishvili’s sustained influence over politics.

In June 2021, Ivanishvili publicly condemned Gakharia’s resignation as a betrayal against both party and country.

Ivanishvili faced accusations regarding business connections with Russian oligarchs; he denied these allegations. In April 2022, leaked audio recordings suggested conversations between Ivanishvili and sanctioned Russian businessman Vladimir Yevtushenkov during Russia’s invasion of Ukraine—implicating Prime Minister Garibashvili as well. Some Georgian Dream members dismissed these recordings as fabricated or innocuous private discussions. Opposition factions accused Ivanishvili of facilitating evasion of international sanctions and called for punitive measures against him. Ukrainian political figure Davyd Arakhamia urged EU and US authorities to impose personal sanctions on him.

On 9 June 2022, the European Parliament adopted a resolution accusing Ivanishvili and the Georgian government of undermining press freedom and maintaining ties with the Kremlin; it recommended imposing EU sanctions on him for weakening Georgia’s political integrity. Lithuanian Members of the European Parliament condemned his role in Georgia’s "oligarchization" and deepening political divisions. The European Council included "de-oligarchization" among prerequisites for granting Georgia EU candidate status; one MEP described this requirement as effectively "de-Ivanishvilization."

In December 2022, the European Parliament reiterated calls for sanctions against Ivanishvili due to his detrimental impact on Georgia’s democratic institutions and assistance in circumventing Russia-related sanctions.

Since 2022, Ivanishvili has been involved in legal disputes with Swiss bank Credit Suisse over a fraudulent scheme involving banker Patrice Lescaudron misappropriating funds from Ivanishvili’s accounts. In September 2023, a Singapore court ordered Credit Suisse to compensate $742.7 million for failing to safeguard client assets.

Honorary chairman of Georgian Dream (2023–present)

On 30 December 2023, Ivanishvili declared his reentry into Georgian politics and was appointed honorary chairman of the Georgian Dream party. This move was attributed to internal disputes within the party, a drop in public approval—Georgian Dream’s support fell to 36.6% in December 2023 from 46.7% in the 2021 local elections—and external challenges such as looming sanctions. In a statement released by Georgian Dream, Ivanishvili highlighted the "complex" geopolitical environment and criticized the opposition for failing to hold the government accountable. By late 2024, he had effectively assumed the role of Georgia’s de facto autocratic leader.

Following unrest and protests after the 2024 elections, the United States imposed sanctions on Ivanishvili, adding him to the Specially Designated Nationals and Blocked Persons List for actions perceived as undermining Georgian democracy and promoting Russian interests. Several European Union countries followed suit with their own restrictive measures.

In January 2025, UK Member of Parliament James MacCleary submitted an Early Day Motion urging the British government to sanction Ivanishvili. Georgian Dream responded by defending him, rejecting sanction threats as "baseless" and praising his role in achieving a "democratic breakthrough" in Georgia.

Political views

Bidzina Ivanishvili advocates strongly for Georgia’s integration into the European Union and NATO, placing these objectives at the forefront of his foreign policy agenda. After his 2012 meeting with then-President Mikheil Saakashvili, he underscored their aligned perspectives on international affairs and emphasized the strategic necessity of a partnership with the United States. Concurrently, Ivanishvili supports normalizing ties with Russia to mitigate conflict risks, enhance regional stability, and facilitate Georgia’s accession to Western institutions. He stresses the importance of convincing Russia that Georgia’s Western orientation does not threaten its security, while restoring economic and cultural connections—particularly considering Russia’s previous status as a major market for Georgian agricultural exports before the 2006 embargo.

He seeks peaceful resolution of the Abkhaz-Georgian and Georgian-Ossetian conflicts through dialogue and reintegration based on shared interests, criticizing Saakashvili’s approach during the 2008 war with Russia. Ivanishvili envisions Georgia as a democratic state governed by rule of law that appeals across all its regions.

In a 2024 interview ahead of parliamentary elections, Ivanishvili combined populist rhetoric with social conservatism and anti-Western sentiment to consolidate authority and undermine opponents. He accused Western “bureaucrats” of collaborating with opposition parties to destabilize Georgia, coining “global war party” to describe this purported conspiracy. While denouncing Western interference, he left room for strategic engagement with the United States.

Responding to concerns about democratic erosion, Ivanishvili rejected claims of authoritarianism despite Georgia’s notable decline in press freedom rankings. He referenced a “fairly positive” interim report by the OSCE but omitted its criticisms regarding public trust deficits, voter intimidation, and media suppression. His assertion of “genuine democracy” contrasts sharply with documented smear campaigns and restrictive legislation targeting independent journalism.

The interview also featured Ivanishvili’s contentious emphasis on LGBTQ+ issues, where he propagated transphobic narratives aimed at conservative constituents. He labeled queer activism as “LGBT propaganda,” citing unsubstantiated instances from Western pride events and alleging coercive gender-reassignment surgeries on minors. He ridiculed gender inclusivity measures with derogatory remarks about “men’s milk” and sanitary products in men’s restrooms—justifying restrictive laws enacted by his party earlier that year.

Additionally, Ivanishvili issued threats against pro-Western adversaries, accusing figures such as Giorgi Gakharia of conspiring with international actors to provoke conflict with Russia. He depicted opposition parties as adherents to a “pseudo-liberal ideology,” thereby undermining their legitimacy to bolster his political base.

Throughout the discussion, Ivanishvili defended Georgian Dream’s prolonged governance as essential given Russia’s full-scale invasion of Ukraine. He characterized the conflict as creating “exceptional circumstances” that justified his administration’s continued leadership while dismissing opposition criticisms as exaggerated or fabricated.

Wealth

In March 2010, Ivanishvili was listed at number 173 on the Forbes Billionaires ranking, with a net worth estimated at $4.8 billion. By 2011, his position shifted to 185, alongside an increased fortune of $5.5 billion. A year later, in March 2012, he climbed to 153rd place with an approximate net worth of $6.4 billion, establishing him as the wealthiest individual in Georgia. His personal wealth amounts to roughly one-third of the country's gross domestic product.

Ivanishvili's name appeared in several major leaks including the Panama Papers, Pandora Papers, and Suisse secrets, revealing millions invested in undisclosed real estate assets within Russia. Forbes characterized his business approach as acquiring companies that lacked demand for tens of millions and later selling them for billions. In 1990, he co-founded Rossiysky Kredit, which became his largest asset. He divested other privatized Russian enterprises and funneled the proceeds into the Russian equities market.

His portfolio encompasses hospitality ventures like Hotel Lux and ownership of a Russian pharmacy chain called "Doctor Stoletov." Additionally, he secured four Moscow properties intended for a high-end hotel development.

As of 2023, Forbes valued Ivanishvili’s fortune at $4.9 billion, ranking him as the 544th wealthiest individual globally.

Ivanishvili has acquired artworks by Pablo Picasso and Peter Doig, including a landmark Georgian painting by Niko Pirosmani purchased for $1.5 million—a record sum—which he subsequently donated to Georgia’s State Museum of Arts.

Together with his spouse Ekaterine Khvedelidze, Ivanishvili established the Cartu International Charity Foundation in 1995. The foundation is exclusively financed by their family and supports initiatives across arts, sports, agriculture, and infrastructure sectors. Among its significant projects are the restoration of Batumi Botanical Garden, renovation work at Tbilisi State University, and development efforts for amusement parks, ski resorts, national parks, and healthcare facilities.

Personal life

Ivanishvili owns multiple properties including a mansion perched above Tbilisi valued near $50 million. This residence was initially designed by Russian architect Mikhail Khazanov and later completed by Japanese architect Shin Takamatsu.

During his years in Russia, he was known by the Russian name Boris, but reverted to his original Georgian name Bidzina in 2011.

He wed Ekaterine "Eka" Khvedelidze in October 1991. The couple has four children: three sons—Uta, Bera (a well-known Georgian singer and rapper), Tsotne—and a daughter named Gvantsa. Both Bera and Tsotne have albinism.

Ivanishvili is also recognized for his collection of exotic animals such as sharks, lemurs, and a kangaroo. This unusual hobby attracted media attention during the 2012 parliamentary elections.

Citizenship

Georgian citizenship was granted to Ivanishvili by then-President Mikheil Saakashvili, while he acquired French citizenship in March 2010. In October 2011, he lost Georgian nationality due to holding dual citizenship amid efforts to establish a political party opposing Saakashvili’s administration.

Although initially denied reinstatement in January 2012, his Georgian citizenship was restored in October that year by presidential decree. Since Georgia does not permit dual citizenship for naturalized individuals, Ivanishvili applied to renounce his French citizenship but subsequently suspended this process and remains a French citizen as of 2024.

Honours

From 2000 until 2012, Ivanishvili held the position of Honorary Consul representing the Republic of San Marino in Georgia.

National honours

Georgian Orthodox Church:

International distinctions

Awarded the title of Knight in France's prestigious Legion of honour on 31 December 2020

External links