This article is devoted to the study of the social attitudes of the inhabitants of the North Caucasian republics to one of the main phenomena of the last 30 years in the economic and political life of Russia – the process of denationalization of property and its transfer to private hands, or privatization, and its consequences. The attitude towards privatization was ambiguous from the very beginning, and over the past 30 years the issue of revising the results of privatization and other methods of compensation for those, who were deprived of the privatization process fruits or could not adapt to the new conditions, has been repeatedly raised. On the basis of mass and expert polls, the authors come to the conclusion about the heterogeneous attitude of representatives of various ethnic groups in Russia to the results of privatization. In support of the hypothesis put forward at the beginning of the article, such a difference in the assessment of past events may be associated with the socio-economic situation in these regions: the most loyal attitude to privatization processes was expressed by representatives of the most economically developed North Caucasian republics, Dagestan and Chechnya, but their attitude to private ownership issues of large enterprises are at odds with them – 6 out of 10 representatives of the peoples in Dagestan consider it unacceptable, and 2 out of 3 Chechens, on the contrary, approve. Today economists predict a new wave of privatization all over the world, including Russia, which makes the study of the results of 30-year privatization in Russia especially relevant – based on the experience and mistakes of the past, a new privatization strategy should be built that will help achieve the goals that were set at the beginning and were not achieved.