From the Globe and Mail:

Russia's super-rich love to flaunt their wealth. Soon they will have a magazine called Snob to help them.

Mikhail Prokhorov - whose wealth is estimated at about $22-billion - plans to spend $150-million setting up a magazine, website and television station called Snob, the general director of the new venture told Reuters this week.

"It's for people who are successful and those who want to be successful," said Andrei Shmarov, who will run Snob. ...

Mr. Shmarov said Russians attach a different meaning to the word "snob."

"Snob to us means a person who is a 'self-made man,' a person who has gained a right to snobbishness," he said, emphasizing the main difference from the British meaning, which, he said, referred to inherited wealth. ...

The rich in Russia are different," said Jane Armstrong, The Globe and Mail's Moscow correspondent. "What they try to do is display their wealth extravagantly, because they weren't allowed to for so many years."

Russia's elite will speed in expensive cars with tinted windows to get attention, Ms. Armstrong explained. People who don't need them will hire bodyguards to flaunt their importance, and they make sure they are seen at expensive restaurants, "even if the food is terrible."

"They will drop $3,000 at a restaurant to show they're successful," she said. "Anything we would consider gauche, they do with gusto."

So a brazen initiative such as Snob, aimed at Russia's rich, makes perfect sense. "Any kind of new trend like this Snob magazine would be popular. They'd lap that up," Ms. Armstrong said.