"Before 2016, the personal wealth of the Russian leader was shrouded
in mystery, but a series of leaks from inside the law firms and banks
that dominate "offshore" finance - including the 2016 Panama Papers and
the Pandora Papers released in October 2021 have offered some clues that
the president's vast wealth stretches well beyond Russia's borders. The
only problem is that, since most of this "hidden wealth" is officially
registered in the names of others (often close friends and even former
lovers of the Russian president whom he has known for years) it makes it
difficult for US sanctions to truly be effective.
Officially,
Putin earns about $140K per year (much less now given the moves in the
ruble in FX markets), and owns a modest apartment in Moscow. But
several assets believed to belong to the Russian president, including a
yacht known as "Putin's yacht" and a massive, billion-dollar dacha on
the Black Sea known as "Putin's palace", have now been widely
publicized.
There's also the question of several luxury properties, including a
$4.1M apartment in Monaco, and a palatial villa in the South of France.
The apartment in Monaco is registered to a woman suspected of being an
ex-lover of Putin, while the French villa is registered to his ex-wife,
Lyudmilla Putin, and her new husband.
There's also the question of Sergei Roldugin, a cellist and longtime
friend of Putin's (their friendship reportedly dates back to their
childhoods in St. Petersburg), who was identified by the Panama Papers
as holding tens of millions of dollars in assets supposedly on Putin's
behalf.
But perhaps the largest ever recorded was shared by Bill Browder, a
western financier who has become a prominent Putin critic (most
notorious for sheparding the "Magnitsky Act" to fruition in the US), has
testified before the US Congress that Putin's hidden wealth is more
than $200 billion, making Putin the wealthiest man in the world, even
moreso than Amazon founder Jeff Bezos." ZH
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