According to official declarations, Putin’s wealth appears to be quite modest.
But is the unassuming figure accurate for Russia’s Leader? It would seem Vladimir Putin’s fortune is a riddle that no one knows how to solve.
The real query on everyone’s mind is simple: What is Vladimir Putin’s wealth?
This arises from curiosity as well as political origins. The recent confusion over Joe Biden’s decision to impose sanctions on Russia but not on Putin himself raised more doubts.
It is undeniable that Russia’s Leader Vladimir Putin is considered to be one of the influential figures in the world who possesses considerable wealth.
Although this assertion is contradicted at every turn with no proof to support it, we take a look and investigate to discover more.
Official Declaration on the Subject
Amid these claims and other reflections, the official declaration on the subject is clear-cut: Vladimir Putin earns $140,000 per year as his remuneration.
Though Putin tends to keep his personal life private. Very little is known about Putin’s daughter and Putin’s wife.
Putin is also rumored to be engaged in a romantic liaison with Olympian Russian Gymnast Alina Kabaeva.
In addition to this income, other assets declared under his name include a trailer, three cars in total: two cars from the Soviet era and one off-road truck, and an apartment that spans 800 square feet in St. Petersburg.
As expected, many people have disputed this assertion and have conducted their own investigations regarding this issue. Many individuals depict Putin as one of the richest men in the world.
His assets, according to others, may amount to $200 billion, if not more.
Lack of Documentation
Officials refute these figures, but there are reasons why people find it difficult to believe the Kremlin’s statement regarding Putin’s wealth. Some of the reasons are listed below, in the article.
It should be noted that the almost complete lack of documentation for the President’s assets does not help to clarify the matter.
There is no trail that leads to his properties, which are claimed to have been concealed by many intricate financial schemes organized by his numerous trusted personnel.
According to the leaked Panama Papers, the International Consortium of Investigative Journalists reported that Putin’s wealth is attributed to his close family and friends with no tangible links connecting him to them.
Such assets include a Black Sea palace which Putin uses for his personal time and space and a luxurious yacht which is estimated to be worth $100 million.
Putin’s Assortment of High-End Watches
In almost all of his photographs, Vladimir Putin is seen wearing deluxe wristwatches.
Observant individuals have reported that these high-end watches are worth more than multiple times Putin’s reported annual income, much less his monthly.
One such observant individual stated that Putin has been seen wearing a $60,000 worth watch featuring the emblem of Patek Philippe’s Perpetual Calendar.
Other sources have reported Putin owning a $500,000 wristwatch from A. Lange & Sohne Touboraph.
There have been many other designs and watches as well.
The Black Sea Estate
This reported estate is simply believed to be worth $1.4 billion. Magnificent in architecture overlooking the Black Sea, this property is the personal residence of Putin.
It encompasses Greek entity statues, a marble swimming pool, exclusive guest houses, spas, parlor, dressing rooms, casino, a nightclub, a barroom with expensive wines and other drinks complete with a tasting room, and much more.
Adorned with Italian branded interior furniture such as sofas and bathroom fixtures and tables of which quoted amounts just astound anyone, the estate itself was designed by Lanfranco Cirillo – an Italian architect – and cost a substantial amount.
To maintain this property, an estimated staff of 40 is believed to be on duty with $2 million per year maintenance expenses.
Vladimir Putin’s Reaction to his Wealth
To claims such as the above and many more, Vladimir Putin simply has denied all of the allegations. When confronted, he responded by giving the following statement, and accepting that he was indeed affluent, but in a different context:
“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.”
Although these types of statements have been scorned by analysts and global society, this is what has been the closest response given by Vladimir Putin of his ‘greatest wealth’.
Additional Assets Associated with Vladimir Putin’s Wealth
Aside from the aforementioned estate, collection of luxurious and elite watches collection, and other assets revealed through Panama papers, there are also other valuable possessions linked to the Russian President’s name.
There are almost 19 to 20 houses along with 700 cars believed to be under Putin’s name. Perhaps the most eye-catching of all his possessions could be his $716 million planes, The Flying Kremlin.
This plane has its toilet made of gold, confirming Putin’s penchant for grand architecture.
He also has around 58 helicopters and aircraft along with the above-mentioned megayacht, which is also said to be valued at $100 million. This yacht is believed to be designed by the Russian navy.
The Mounting Interest in Vladimir Putin’s Wealth
The recent invasion of Russia into Ukraine has been the primary reason for the public’s escalating interest in the President’s financial statement.
Recently imposed sanctions on Russia by America’s President Joe Biden but not on Putin seemed to add more fuel to the fire.
It is also believed that agencies of the EU and the US must be tracking Putin’s assets and wealth over the years. Their delay and hesitancy regarding imposing sanctions and freezing Putin’s assets are raising concerns.
Common sense says that even freezing Putin’s assets would not force him to halt his recent invasion. But people assert this is important to ‘punish’ him.
Leaders such as Joe Biden – US President – are believed to be refraining from action due to the absence of definite evidence linking these assets to the Russian President.
