While there's little doubt that Vladimir Putin is a very wealthy man, just how much the Russian president is worth remains somewhat of a mystery.
Although Putin is believed to hold billions of dollars in personal wealth, little is known about the exact amount or where it might be.
According to the Kremlin, Putin earns an annual salary of $140,000. It is publicly disclosed that he has an 800-square foot apartment, a trailer, and three cars.
However, some experts claim he may be the wealthiest man in the world - with potential assets totaling up to $200 billion.
These claims aren’t necessarily unfounded either, with experts weighing up why they think he’s worth a lot more than people think.
The £1 billion clifftop mansion
Firstly there's the 'secret' Black Sea luxury mansion worth at least £1 billion - which unbelievably can be spotted from Google maps.
The revelation comes after Russian opposition leader Alexei Navalny's Anti-Corruption Foundation released a documentary about the property, claiming Putin uses the palace as his own private home, something the Russian president has denied.
The Kremlin alleges that the home is a business venture owned by various businessmen. However, the murky world of the Russian mega-rich has led to speculation that it could actually belong to the Russian president himself.
The property sits on top of a cliff that looks down on the scenic location below.
This mansion is understood to be the largest private residence in the country and serves as his private palace called “Putin’s Country Cottage”, according to Fortune.com.
The property has frescoed ceilings, a marble swimming pool with statues of Greek gods around it, a musical parlour, a hockey rink, amphitheatre, spas and much more.
A 27,000 square-foot guest house is onsite at the property, as well as dressing rooms for staff, a Vegas-style casino, a nightclub with stripper poles, a barroom with more than $100,000 of wine and spirits and an underground tasting room overlooking the water.
The interiors are said to be made up with of a luxury Italian brand called Citterio Atena, including Louis XIV style sofas, $500,000 in dining room furniture, and a $54,000 bar table.
Even the bathroom is kitted out, with $850 Italian toilet brushes and $1,250 toilet paper holders.
$2 million a year is spent on outdoor maintenance, conducted by 40 people.
The Black Sea Mansion was designed by architect Lanfranco Cirillo and cost $1.4 billion.
Navalny's allies published photos of the palace, which is also said to have a separate kitchen for meat, fish, baked goods and vegetables. In August 2020, Navalny was poisoned with Novichock, the same nerve agent used in the Salisbury Poisonings in 2017, and he was later jailed.
After the allegations were revealed, which Navalny called "the largest bribe in history", billionaire Arkady Rotenberg claimed he owns the mansion and it is set to become an apartment hotel. Arkady's son, Igor, and brother, Boris, have both been sanctioned by the UK due to their close ties to Putin. Navalny's estimates on the property go over £1 billion.
Vehicles, aircraft and homes
Putin is reported to own about 58 aircraft and helicopters, along with 700 cars. Among these assets is said to be a $716 million plane called “The Flying Kremlin” that has a toilet made of gold.
He is rumoured to own a a $100 million megayacht that was designed by a nuclear submarine maker from the Russian navy.
In total, Putin owns eight residences. His offices are in the Kremlin, a fortified group of about 15 buildings over a sprawling 68 acres, as Business Insider reports.
He has lived in his official residence, Novo-Ogaryevo, for the past 22 years. He is apparently very fond of the compound, and refers to it as his home, and although it doesn't actually belong to him, it has been allocated to him "in perpetuity."
One of his more popularly known apartments is Bocharov Ruchy, located in Sochi. It is a publicly known location, usually used for government purposes. He isn't the first Russian government official to live there; it's been inhabited by leadership since its completion in 1955 (via Russia Beyond). George W. Bush met with Putin at the property in 2008.
He owns an apartment in Moscow, which he has leased through the Russian government since 1990. This residence, Akademika Zelinskogo Street, 6, is well-known to the public as one of Putin's spaces to live while he is working.
Luxury watch collection
The Russian president has often been pictured with luxury watches on his wrist. For example, he has been seen with a Patek Philippe Perpetual Calendar watch, which is worth $60,000.
He reportedly owns a $500,000 A. Lange & Sohne Toubograph, amongst other high-end designers. In 2009, he gave a £5,500 black Blancpain to a factory worker.
"Putin's visible watch collection is worth multiples of his official salary," Bill Browder, an investor in Russia who became a fierce critic of Putin, told CNN in 2018. "The wealth came as a result of extortion and massive theft from state funds."
Browder testified before the US Senate in 2017 that he estimates the Russian leader's wealth to hover around $200 billion in assets, which would make him among the wealthiest people on the planet.
$200 Billion Dollar Blackmail
Financer Bill Browder said in 2017 to a US Senate Judiciary Committee that Putin amassed most of his wealth after oligarch Mikhail Khodorkovsky was jailed for fraud. He estimated that it was $200 Billion dollars.
He said: “After Khodorkovsky's conviction, the other oligarchs went to Putin and asked him what they needed to do to avoid sitting in the same cage as Khodorkovsky.
“From what followed, it appeared that Putin's answer was, ‘50%’
“He wasn't saying 50% for the Russian government or the presidential administration of Russia, but 50% for Vladimir Putin personally."
The Panama Papers also revealed offshore deals and loans worth $2 billion that pointed at Putin.
The Russian president denies these allegations and has said: "I am the wealthiest man, not just in Europe but in the whole world: I collect emotions. I am wealthy in that the people of Russia have twice entrusted me with the leadership of a great nation such as Russia. I believe that is my greatest wealth."
Vladimir Putin's true net worth remains a mystery, but many have been quick to find holes in what the government has told them.
Putin and his cronies dismiss all claims of his reported wealth and corruption as “pure fiction”.
The line from Putin himself is: “I am the wealthiest man not just in Europe but in the world. I collect emotions. I am wealthy in that the Russian people have twice entrusted me with leadership of a great nation.”
But the selfless portrayal could not be further from the disturbing picture dissenters paint.
Political expert Stanislav Belkovsky has claimed Putin made £27billion from stakes in three Russian energy firms, oil exploration firm, Surgutneftegaz, Gazprom, the state energy giant, and Gunvor, an oil trading company.
Sergev Kolesnikov, is among those who claim Putin uses state funds and donations from rich backers supposedly to the state, for extreme personal gain.
The businessman helped Putin collect money from the super-rich, thinking it was heading towards state projects. He and two partners set up Rosinvest to invest the money. Tellingly, 94% of the company was owned by Putin.
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