The Russian leader's fortune is predicted to be colossal, but remains mysterious. Does he have tens or hundreds of billions of dollars? New information has been circulating about his wealth.
A colossal fortune
An international organisation has identified a group of 86 companies linked to people close to Vladimir Putin. The leader is believed to have billions of euros worth of real estate assetsin Russia. According to financier Bill Broder, the head of the Kremlin is said to have up to 200 billion dollars.
The head of the hedge fund Hermitage Capital Management, once the largest foreign investor in Russia, told CNN in 2015:
The first eight or 10 years of Putin’s reign over Russia, it was about stealing as much money as he could. And some people, including myself, believe that he’s the richest man in the world, or one of the richest men in the world, with hundreds of billions of dollars of wealth that was stolen from Russia.
Yachts, vineyards, palaces, luxury homes, and even a ski resort are said to be owned by Putin or his entourage, through arrangements under the guise of companies and assets that belong to them. The Black Sea Palace, in particular, is estimated to be worth 1.2 billion dollars. The 17,700-square-metre sumptuous castle was allegedly built especially for Putin in Gelendzhik on the Black Sea, according to Alexey Navalny, a widely publicised lawyer, activist, and leading opponent of Putin.
A Kremlin spokesman, asked about his leader's wealth, said to quell the rumours that 'the president of the Russian Federation is in no way connected or affiliated with the assets and organisations (...) mentioned.'
This article has been translated from Oh!MyMag FR.