Pavel Durov’s Russian biographer explains the tech-bro feudalism that drives Telegram

Earlier this year, Telegram raised $1.7 billion from convertible bonds — funds earmarked to pay off debt due next year, leaving about $745 million in surplus. In December 2024, in its first profitable year, the company reportedly earned a profit of $540 million on revenue of $1.4 billion. This year, Telegram’s profits are expected to top $700 million on $2 billion in revenue. The social network reportedly has more than 1 billion monthly active users, including 15 million paid subscribers — a figure that has doubled over the past year.

In November 2025, the French authorities fully lifted their travel ban on billionaire Pavel Durov, Telegram’s founder and CEO, who was arrested in Paris in August 2024 on charges alleging complicity in crimes facilitated through the platform. In the past two years, Durov has granted hours-long interviews to podcaster and YouTuber Lex Fridman and American journalist Tucker Carlson. Durov also spent two days talking to Russian journalist Nikolay Kononov, who recently published a new book that updates his “14-year investigation into Pavel Durov’s strategy and mindset, and the epic of Telegram.” The book, The Populist: The Untold Story of Pavel Durov and Telegram, is now available in English. Kononov spoke with The Naked Pravda about Durov’s conservative political views, his uncompromising managerial style, and Telegram’s efforts to navigate regulatory risks while expanding its global user base. 

Timestamps for this episode:

• (2:22) Tech feudalism vs. late capitalism
• (12:28) Telegram moderation politics
• (16:15) Telegram’s cryptocurrency journey
• (22:13) The future of Telegram and Pavel Durov’s vision
• (30:38) Durov’s mindset in 2025

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