Ever since the 2016 presidential election, Russian President Vladimir Putin has been in the news quite a bit. Did he have a role in Trump’s win? Has Trump’s cabinet been conferring with Putin’s team all this time? These are all fascinating questions. But even more interesting is the question of Vladimir Putin’s net worth. We’ll take you through just how this infamous Russian politician made his money.
Vladimir Putin Net Worth: How He Makes Money
Slush funds, undocumented assets, and unverified wealth – that’s the Putin way. You won’t find this Russian on any billionaire lists. But it turns out Putin has amassed quite a fortune and may very well be the richest person in the world. A former KGB agent who rose through the ranks, Putin has held high ranking political offices in Russia since 1999. And it looks like he’s been building his fortune that long too.
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His first source of income? Putin’s investments. Although none of his investments can be verified, Putin is reported to have been linked to Gunvor funds. Then there’s the report that Putin controls 37 percent of oil company Surgutneftegaz and 4.5 percent of natural gas company Gazprom.
Second, Putin has leveraged a system put into place during Boris Yeltsin’s time to make himself quite a bit of money. When Russia’s assets became privatized to a few wealthy bank oligarchs, Putin took a cut.
Finally, there’s the report of offshore companies whose profits in the millions of dollars, have been diverted to the construction of Putin’s palace.
What has Putin been spending on? A fleet of planes, several yachts and even a $1 billion castle. Even his watch collection is worth several hundred thousand dollars.
Valdimir Putin Net Worth
So what is Vladimir Putin net worth? In 2017, Putin’s net worth is estimated to be $$215 billion. That’s puts his rank above Bill Gates, Warren Buffet and the Koch brothers. So there you have it. Putin is the richest man in the world.
Photo Credit: Mikhail Kirkov