Vladimir Putin is known for his leadership. However, there are rumors that he could also be the richest man in the world, which the Russian President never admitted. So, how rich is the Russian oligarch?
Is Vladimir Putin The Wealthiest Man In The World?
There are different reports about Vladimir Putin's net worth. According to Celebrity Net Worth, the politician is worth $70 billion and earns $187,000 annually.
Meanwhile, according to Fortune, Kremlin claims Putin's annual salary is only $140,000. His publicly disclosed assets include an 800-square foot apartment, a trailer, and three cars.
AS claimed that Putin's total assets are estimated at $40 billion. His income as the Russian president and what he is worth as a veteran politician in terms of assets are reportedly two different things. Putin allegedly has a large number of shares in energy and commodities companies like Gazprom, Surgutneftegas and Gunvor, which increases his personal wealth to over $40 billion.
He also allegedly owns a superyacht worth more than $100 million and a palace on the Black Sea shores.
READ: Michelle Obama Heartbreak: Barack Obama's Wife Had Enough Of Him Allegedly Not Listening To Her
Vladimir Putin's Asset Allegedly Worth Up To $200 Billion
According to Ruth Ferrero-Turrión, a professor of Political Science at Madrid’s Complutense University, powerful autocrats usually have huge financial reserves hidden somewhere. He believed that Putin keeps his power in the country due to "mafia capitalism," AS reported.
Many questioned the reported assets of Putin because the Russian politician is often spotted wearing high-end luxury watches that are multiple times worth his supposed annual income. He was photographed wearing Patek Philippe’s Perpetual Calendar watch worth $60,000 and allegedly owns a $500,000 A. Lange & Sohne Toubograph, among other fancy designs.
There are also rumors that he has a $1.4 billion mansion atop a cliff overlooking the Black Sea. The estate allegedly has a marble swimming pool with statues of the Greek gods, has 27,000 square-foot guest house, amphitheater, ice hockey rink, Las Vegas-style casino and more.
It has extravagant furnishings and the property's maintenance allegedly costs $2 million per year. The property's landscaping is allegedly maintained by a 40-person staff.
Putin also allegedly owns 19 other houses and 700 cars. He also reportedly has a collection of 58 aircraft and helicopters, including a $716 million dollar plane called “The Flying Kremlin” with a toilet made of gold.
The $200 billion figure was estimated by financier Bill Browder in a testimony to the U.S. Senate Judiciary Committee in 2017. He claimed that Putin amassed his wealth after a Moscow court jailed oligarch Mikhail Khodorkovsky in 2003 for fraud and tax evasion.
"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," Browder said, per AS.
The President of Russia has since denied the various speculations about his assets. He considered himself the wealthiest man for another reason and not because of his net worth.
"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," Putin said.
Vladimir Putin Early Beginnings And Career Before He Became President Of Russia
Putin came from humble beginnings. His mother, Maria, was a factory worker, and his father Vladimir Spiridonovich was a conscript in the Soviet Navy, History reported.
He studied law at Leningrad State University and graduated in 1975. It was there where he met Anatoly Sobchak, co-author of the Russian constitution. Sobchak was an assistant professor that taught business law. He had a great influence on Putin's career.
After graduating from Leningrad State University, he worked in the KGB as an intelligence officer in 1975. He retired from the KGB in 1991 following the collapse of the Soviet Union.
He returned to Leningrad and supported Sobchak (1937-2000), a liberal politician. When Sobchak was elected mayor of Leningrad in 1991, Putin became his head of external relations. The current President of Russia became the first deputy mayor in 1994.
When Sobchak was defeated in 1996, Putin resigned and moved to Moscow. In 1998, he was appointed as deputy head of management of President Boris Yeltsin’s administration. He was in charge of the Kremlin's relations with the regional governments.
Putin became prime minister in 1999 before taking over as president. He was appointed for the same position — as prime minister — in 2008 and retained the power by earning re-election to the presidency in 2012.
Explore new topics and discover content that's right for you!
Pop Culture