Putin's hidden wealth: A trillion-dollar enigma unravelled
Vladimir Putin officially declares a modest fortune, yet the actual value of his assets may be as high as one trillion dollars (770 billion pounds). Critics of the Kremlin, such as Sir Bill Browder, highlight the luxurious lifestyle of the Russian president, which contrasts sharply with official data, reports the newspaper "Fakt".
According to "Fakt", Vladimir Putin officially owns an apartment in St. Petersburg, several cars, and savings exceeding half a million dollars (390 thousand pounds). However, the actual value of his wealth could be significantly higher. Sir Bill Browder, a well-known critic of the Kremlin, estimates that Putin's wealth may reach one trillion dollars (770 billion pounds).
The newspaper reports that Putin earned 67.6 million roubles (about 623 thousand pounds) between 2017-2022.
"Putin's Palace"
Yet, the greatest controversy surrounds the so-called "Putin's Palace" on the Black Sea, which is estimated to be worth 1.4 billion dollars (1.1 billion pounds). The palace was reported by the Anti-Corruption Foundation founded by Alexei Navalny.
Vladimir Putin himself denied the claims made by Navalny's foundation.
The authors of the report concluded that the construction of the structure, with a size of nearly 17,998 square metres, was financed by Russian state-owned and private companies linked to the Russian dictator's associates. The material at the time featured Navalny himself, who called Putin "the richest man in the world."
This was also the opinion of the Dutch newspaper "De Telegraaf." "Yachts, palaces, planes, and shadowy private companies - Putin is most likely the richest person in the world," the newspaper wrote in September 2023. The largest newspaper in the Netherlands recalled, among other things, the Panama Papers documents from 2016, which indicated that the Russian leader has, among other things, 2 billion dollars (1,55 billion pounds) concealed through an extensive network of companies.
The Russian president's wealth
According to a report by economists from the "Harvard Political Review," Putin developed a system in which his wealth is distributed among a group of his close associates.
The late opposition leader Boris Nemtsov (murdered in 2015) noted that the head of state owns 43 aeroplanes and helicopters.
One of the aircraft reportedly features a cabin worth 2.8 million dollars (2.2 million pounds) with embellishments by jewellers, as well as a luxury toilet worth nearly 20,000 pounds. Besides this, he reportedly also owns around 700 cars and several luxury yachts, such as the "Graceful," a 82-metre vessel worth about 73.5 million pounds, or the attributed "Scheherazade" - one of the largest yachts in the world.
