Sanjaagiin Bayar Net Worth

Background and career

Sanjiin Bayar (Mongolian: Санжийн Баяр, IPA: [sˈɑnʒyjn bˈɑj͡ar]; born 24 December 1956), sometimes referred to as Sanjaagiin Bayar, is a retired Mongolian politician who served as the 25th Prime Minister of Mongolia from 2007 to 2009. He was a member of the State Little Khural from 1990 until its dissolution in 1992, a member of the State Great Khural from 2008 to 2012, and Chairman of the Mongolian People's Revolutionary Party (now known as the MPP) from 2007 to 2010.

During his tenure as prime minister, he oversaw a coalition government dominated by the MPRP. Violent riots occurred in 2008 due to alleged electoral fraud, leading to a declaration of a state of emergency for the first time in Mongolia's modern history and a longstanding political crisis between the major political parties. Furthermore, Mongolia was hit with the 2008 financial crisis, which led to a brief economic stagnation and downturn as mineral prices collapsed.

Bayar secured a second term after the 2008 parliamentary elections, becoming the first Mongolian prime minister to secure a re-appointment. In his second administration, he established a major milestone foreign investment deal for Oyu Tolgoi mine project with Ivanhoe Mines and Rio Tinto in 2009. However, the deal was met with harsh domestic criticism and controversy. Soon enough, on 26 October 2009, Bayar resigned as prime minister for declining health. His role was assumed by his deputy, Norovyn Altankhuyag, for three days until Bayar was succeeded by Sükhbaataryn Batbold on 29 October 2009.