Vladimir Putin Net Worth

Russian President Vladimir Putin seems to always find his way into the spotlight, whether it’s intentional or not. He is best known for being the Russian president, but most people speculate about his net worth as rumors continuously circulate regarding his assets. So, what is the Vladimir Putin net worth?

Vladimir Putin’s Net Worth

Vladimir Putin has an estimated net worth of $70 billion, but he often claims it is less than that. On paper, Vladimir Putin personally states that he only owns a modest 800-square-foot apartment and a couple of cars, but there’s a bit more to his finances than that. Many claim that he could not afford his lavish lifestyle on a meager $140,000 salary that the Russian president earns per year. 

Vladimir Putin Early Life

Vladimir Vladimirovich Putin was born in Leningrad, Russian SFSR, the Soviet Union on October 7, 1952. Today, that area is known as St. Petersburg. His father, Vladimir Spiridonovich, was a conscript in the Soviet Navy and his mother was a factory worker. 

As a young child, Putin grew up in poverty. His biography tells of him sharing a home with a few other families that had no heat or running water. A tale he tells is that once his mother fainted from hunger, but thankfully, she woke up before the dead bodies were moved. 

Putin was often bullied in school and found solace working on something he loved, martial arts. He began to practice Judo and karate until he was able to master them. 

After high school, Vladimir Putin studied law at Leningrad State University and graduated in 1975. 

Politics

The political career of Russian president Vladimir Putin began with the 16 years that he served in the KGB. He began his career by studying at the 401st KGB school in Leningrad. He would later go on to further his training at Yuri Andropov Red Banner Institute in 1948 and served as an undercover officer that was using the identity of a translator in Germany from 1985-1990. 

After the collapse of the East German government, Putin returned to Leningrad. There was a coup against the government in 1991. The second coup attempt led to Putin quitting the KGB because he did not want to work for the post-coup government. 

One of his former professors, a man named Anatoly Sobchak, became the mayor of Leningrad and appointed Putin as the head of the Committee for External Relations. It was through this position that Vladimir Putin began to gain a foothold in the world of politics. 

The president at the time, Boris Yeltsin, named Putin as the director of the FSB in 1998. Then, in 1999, he was appointed as acting Prime Minister and took over the presidency for a brief period after Yeltsin resigned. This same year, he agreed to run for president. 

Putin has remained the Russian president since this time, excluding the four years in which he was the Prime Minister. 

Assets

During this time, it’s been claimed many times that billionaire Putin has much more than he does on paper. Many say that he leaves his assets in other people’s names. Vladimir Putin claims that he owns a few Russian automobiles and a 600-square-foot plot of land in the Moscow suburbs. However, scandals tell a very different story. 

Putin’s Palace

According to the Panama Papers and Russian opposition leader Alex Navalny, Putin’s Palace is a luxurious palace that is nestled on the Black Sea. There are claims that the beautiful palace was built for Putin himself, while Putin claims that it was an investment by several high-profile men, and points out that it’s not even in his name. 

The luxurious palace features marble bathtubs, a Las Vegas-styled casino, and much more. A grassy mound supposedly hides an ice hockey rink. A marble swimming pool can also be found at the Black Sea mansion. Louis XIV-style sofas, decked-out bathrooms, and more can be found sprawled throughout the fabulous mansion that sits atop the coast of the Black Sea. Boats must maintain a distance, and there is a no-fly zone over the property. 

Speculations

Although Putin claims that he does not have much personal wealth outside of his annual salary of $140,000, many speculate as to how he is able to afford certain things, such as giving luxury watches to orphans. There are also the scandals of supposed children, whose mothers suddenly turn into millionaires seemingly overnight. 

According to many, Putin amassed his secret wealth using his presidential power to have large stakes in companies that make billions in the Russian Federation. He has used this power as leverage to make backdoor deals with people, giving them favors in exchange for other things. Putin’s friends are said to hide his wealth. 

Others say that the leader of the Kremlin collects emotions. He is nice and generous, leading to his friends feeling a certain loyalty to him, resulting in them feeling obligated to agree to certain deals that give the head of the Kremlin more money and more power. 

Many state that he is linked to offshore companies, bank accounts, and much more. This is why so many people believe that Putin has a secret fortune. 

Because there is so much speculation, it’s almost impossible for anyone to state exactly how much Putin is worth. 

Putin’s Personality

More than anything, Putin is well-remembered for his blunt and macho personality. Shirtless photos of him broke the internet and were photoshopped into him riding a bear. When asked about a submarine, and what happened, he simply stated “she sank.” This blunt, macho personality seems to be the way Putin is, and how most people will always remember him. 

Vladimir Putin FAQs