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Article: Is Putin Richer Than World's Richest Man? Yachts, Planes, A Huge Palace

Is Putin Richer Than World's Richest Man? Yachts, Planes, A Huge Palace
Putin

Is Putin Richer Than World's Richest Man? Yachts, Planes, A Huge Palace

Elon Musk, who is officially the world's richest man, recently said he believes the Russian president Vladimir Putin is richer than him.

"How do you feel, being — at a net worth  of $260 billion roughly — perceived as the richest person on earth?" Mathias Döpfner, the CEO of Insider's parent company, Axel Springer, asked Musk recently.

"I do think that Putin is significantly richer than me," Musk replied.

Was Elon Musk right? Let's see...

Putin Is Allegedly One Of The Richest Man In The World

Though nobody knows for sure how rich Putin is, it is believed that his fortune is one of the biggest in the world. Master of puppets over a country rich in resources but also in corruption, Vladimir Putin is believed to be fabulously rich.

The CEO of a wealth management company claimed Putin's personal fortune was $200 billion.

Russia's invasion of Ukraine has shocked the world and led to one of the worst humanitarian crises since World War II. But it also brought to the center one of the most controversial figures in international politics: Vladimir Putin.

Putin has always intrigued the world with his personality and his past as a KGB officer. Now let's take a look at his lifestyle and fortune.

Official Salary Versus Fabulous Lifestyle

According to NDTV.com, officially, the Kremlin says that Putin earns an annual salary of $140,000. Putin himself declared an 800-square foot apartment, a trailer, and three cars.

But he is considered the richest man in the world and not because of his salary, of course, according to investment and asset management company Hermitage Capital Management. The statement was made in 2017 by the company's general manager, Bill Browder, before a judicial committee of the US Senate.

His comments about Putin and Russia have been taken seriously since Browder was a major investor in Russia in the 1990s. But also because of Putin's lifestyle.

According to Fortune, the president of Russia was seen wearing luxury watches such as a $500,000 Lange & Sohne Toubograph. Recently, at a meeting he organized to promote the invasion of Ukraine, he wore a $13,000 Loro Piana puffer jacket. If he was to dispose only of his official salary of  $140,000/year, would he afford such clothes and accessories? We guess not.

Also, according to the Russian opposition group Solidarity, 10 years ago Putin already had luxury watches worth $700,000 - about six times his official salary.

Putin Is Said To Own A Palace, Yachts, And A Plane With A Toilet Made Of Gold

Putin has been linked to a $1.4 billion palace on the Black Sea and a $4 million Monaco apartment. The Black Sea mansion is built atop a cliff that overlooks the sea, has two helipads, an underground hockey rink, a marble swimming pool lined with statues of Greek gods, an amphitheater, a casino in Vegas style, a nightclub with wines and spirits worth a small fortune, and more. 
Alexei Navalny, the Russian politician, and Putin critic said that the Kremlin leader and his billionaire friends secretly built the luxury residence using illicit funds.
Is Putin Richer Than World's Richest Man? Yachts, Planes, A Huge Palace

The palace is the largest private residential building in Russia, with more than 190,000 square feet of living space. It sits on roughly 170 acres and is worth an estimated $1.4 billion, according to Navalny who says that a much larger piece of adjacent land belongs to Russia's Federal Security Service.

Navalny published pictures of the opulent mansion, The photos claim to show $500,000 dining room furniture, a $54,000 bar table, decked-out bathrooms with fancy $850 Italian toilet brushes, and $1,250 toilet paper holders.

But in January this year, Russian oligarch Arkady Rotenberg said he is the owner of the mansion, not Putin.

In addition to the Black Sea mansion, the Russian president is rumored to be the owner of 19 other houses, 700 cars, 58 planes, and helicopters. One of these planes - the "Flying Kremlin" - is built at a cost of $716 million and has a toilet made of gold.

Putin is also believed to be the owner of a 140-meter-long, six-story super yacht. The name of the Yacht is Scheherazade and she has an estimated value of $700 million.

According to The Guardian, the vessel is equipped with a spa, swimming pools, two helipads, a wood-burning fireplace, and a pool table designed to tilt so as to reduce the impact of the waves.
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