Boris Nikolayevich Yeltsin (Russian: Бори́с Никола́евич Е́льцин, IPA: ( listen); 1 February 1931 – 23 April 2007) was the first President of the Russian Federation, serving from 1991 to 1999.
On 12 June 1991 he was elected to the newly created post of president of the Russian Soviet Federative Socialist Republic with 57% of the vote, becoming the first popularly elected president. However, Yeltsin never recovered his popularity after a series of economic and political crises in Russia in the 1990s.
Following the dissolution of the Soviet Union in December 1991, Yeltsin, vowing to transform Russia's socialist command economy into a free market economy, endorsed price liberalization and privatization programs. Due to the method of privatization, a good deal of the national wealth fell into the hands of a small group of oligarchs.