Vladmir Putin's Net Worth In 2023
The ongoing conflict between Russia and Ukraine has once again put the spotlight on Vladimir Putin, one of the world's most influential leaders.
Since the invasion of Ukraine by Russian forces a month ago, the region has faced a deepening humanitarian crisis, resulting in widespread suffering for the Ukrainian people.
Amidst discussions about the war, there has been renewed interest in Putin's wealth. Over the years, rumors have circulated suggesting that Putin might be the wealthiest person on the planet, although he has never appeared on any official wealth ranking such as Forbes.
Forbes spokesperson, in 2015, explained that Putin was not included in their billionaires list because they couldn't verify his ownership of assets worth $1 billion or more.
Officially, Putin's reported annual salary is $140,000. He has publicly disclosed assets including a modest apartment, a trailer, and three cars. According to Fortune, he resides in a relatively small apartment in Moscow.
However, reports about Putin's lifestyle tell a different story. He is often seen wearing luxury watches and is rumored to possess a variety of extravagant possessions. These alleged possessions include a sprawling mansion worth $1.4 billion, spanning 190,000 square feet, overlooking the Black Sea. The mansion is said to consist of 19 houses, 700 cars, 58 aircraft and helicopters, including a $716 million aircraft known as "The Flying Kremlin" with a gold toilet. Additionally, it is claimed that he owns a $100 million mega yacht designed by a former Russian navy nuclear submarine maker.
Recent reports from Fortune mentioned Putin being seen wearing high-end watches, including a Patek Philippe's Perpetual Calendar watch valued at $60,000 and allegedly owning a $500,000 A. Lange & Sohne Toubograph, among others.
In January 2021, a viral video depicted a luxurious mansion on the Black Sea called "Putin's Palace." Putin denied ownership of the mansion and stated that none of the properties shown in the video were his or belonged to his close relatives.
The mansion, designed by Italian architect Lanfranco Cirillo, reportedly boasts extravagant features such as a helicopter launch pad, underground tunnels, frescoed ceilings, a marble swimming pool, an amphitheater, an ice hockey rink, a Vegas-style casino, and a nightclub. The interior furnishings are said to be provided by the luxury Italian brand Citterio Atena, including Louis XIV-style sofas, $500,000 worth of dining room furniture, and a $54,000 bar table. The bathrooms are reportedly equipped with expensive amenities, including $850 Italian toilet brushes and $1,250 toilet paper holders. The property's landscaping alone allegedly requires an annual expenditure of $2 million and is maintained by a 40-person staff.
According to a Reuters investigation, the funds for the mansion came from Russia's 1.3-trillion-ruble "Health" project, which purchased medical equipment at significantly inflated prices, two to three times higher than the market value, from a company owned by Putin's associates.
During his testimony before the U.S. Senate Judiciary Committee in 2017, Bill Browder, the founder and CEO of Hermitage Capital Management, made allegations about Vladimir Putin's net worth. Browder claimed that Putin's wealth reached a staggering $200 billion and accused the Russian government of engaging in serious crimes to accumulate such a vast fortune. He also mentioned Putin's extensive collection of luxury watches, stating that it far exceeded his official salary. Browder, who was an investor in Russia, believed that Putin's wealth was acquired through extortion and large-scale embezzlement of state funds.
Despite ongoing speculation about Putin's true net worth, he has consistently dismissed these rumors. Putin has expressed his perspective on wealth by stating, "I am the wealthiest man, not only in Europe but in the entire world: I collect emotions. I am wealthy because the people of Russia have twice entrusted me with the leadership of a great nation like Russia. I consider that to be my greatest wealth."
