Vladimir Putin, president of the Russian Federation, is one of the most powerful people on the planet after more than 12 years at the head of the Russian government. According to Putin’s latest asset declaration from 2021 made public by the Kremlin, his annual salary is just 92,000 euros per year, and his declared assets include two apartments of 77 and 154 square meters with parking in St. Petersburg Moscow, a trailer and two GAZ M21 cars manufactured in the 60s.
However, different sources suggest that, in reality, the Russian president could accumulate one of the largest fortunes in the world.
More than 200 billion dollars. Behind the façade of austerity left by his declaration of assets, a fortune greater than that of Jeff Bezos or Mark Zuckerberg could be hidden. As Bill Browder, CEO of Hermitage Capital, testified before the United States Senate Judiciary Committee in 2017, “I believe his fortune is $200 billion,” the manager testified. A previous investigation already estimated his fortune at around 60,000 million.
The enormous disparity between the official and the unofficial has generated multiple theories about the true extent of Vladimir Putin’s royal wealth. Beyond the numbers, what calls into question this image of modesty are the luxuries and properties linked to the Russian president, as well as the collections of luxury watches that he shows off at his public events.
50% of your fortune or nothing. The Panama Papers and the Pandora Papers revealed information about the activities of the offshore companies of close collaborators of Vladimir Putin, who have amassed fortunes in his shadow.
Vladimir Putin’s fortune would have its origins in the arrest in 2003 of Mikhail Khodorkovsky, who at that time was the richest man in Russia, and dared to confront Putin. Khodorkovsky was subjected to a televised trial in which he appeared locked in a cage. According to Bill Browder’s statements before the Senate, a group of oligarchs approached Putin to see what they could do to avoid ending up with the same fate as Khodorkovsky: “His answer was: ‘50%’. Not 50% for the government Russian, nor for the presidential administration of Russia, but 50% for Vladimir Putin. At that moment, Putin effectively became the richest man in the world.
An empire in external hands. In his statements, the investor highlighted that an intricate fiscal architecture had been woven around Putin to keep the president away from his fortune. “None of those funds are in their name. The money is in the hands of what I call ‘oligarch trustees,’ people who are trusted friends and who hold the money in their name. They have the money in the hands of the West, in funds Much of the money circulating in the real estate market and in the world of finance belongs to Vladimir Putin and his trustees. oligarchs,” explained Bill Browder before the Senate.
A mansion on the Black Sea. Among the most striking assets that have fueled theories about Vladimir Putin’s enormous fortune is a 17,692-square-meter mansion facing the Black Sea, known as “Putin’s palace.” The Kremlin denies that this mansion belongs to Putin, stating that it is owned by a Russian businessman. However, investigations of Reuters of 2014 suggested the opposite. According to another investigation by Forbesthe palace has gone through several purchase and sale operations between companies related to oligarchs close to Putin.
Its estimated value is about 1.3 billion dollars and, as revealed Business Insider Following some photographs leaked by the opposition Navalny Foundation, no luxuries have been spared in the interiors. According to statements by Alexei Navalny, an opponent of Putin’s government who died at the beginning of the year in a Russian prison, “the palace and its grounds had security fences, its own port, a church, a no-fly zone, a border control post, a warehouse of wines, a theater, casino, gym, swimming pool, nightclub and a private ice hockey rink.
Good taste with watches. Vladimir Putin’s taste for luxury would not end with real estate. According to the specialized portal IFLWatchesPutin has been photographed wearing watches that far exceed his official salary.
Among them are pieces from brands such as Patek Philippe, IWC, Breguet or Blancpain, with prices ranging between 20,000 and 100,000 dollars, as well as a Tourbograph by A. Lange & Sohne valued at around 480,000 euros.
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Image | Kremlin
