Putin At Face Value
There's not another world leader quite like Russian president Vladimir Putin. He's simultaneously enjoyed record approval ratings in Russia while facing harsh criticism from the rest of the world.
When BBC examined the fine print of Putin's leadership for a Panorama documentary, the network's findings were unnerving, to say the least. Here's the breakdown.
For starters, let's take a look at Vladimir Putin and judge a book by its cover.
Living In Excess
He wears expensive watches, designer tracksuits, and lounges on a $50 million superyacht that he received as a gift.
A Modest Salary...
"He has a level of living that is far in excess of anything anyone in the west would have—even the richest," said Karen Dawisha, the author of Putin's Kleptocracy.
Putin reportedly draws an annual state salary of $157,000, although “that is not an accurate statement of the man’s wealth,” said Adam Szubin of the U.S.
Rags To Riches
Treasury.
Putin was born into a poor family and joined the KGB as a spy before retiring and pursuing a political career.
The Richest Man In Europe
After a decade, he was elected president.
“I'm still sure Putin is the richest man in Europe,” said Stanislav Belkovsky, a journalist who worked to calculate Putin's wealth.
Deny, Deny, Deny
The political commentator believes that Putin is worth around $60 billion.
"It's simply rubbish," Putin said of certain headlines. He isn't a fan of any media coverage of him or his wealth.
Wealth Divided And Hidden
"They just picked all of it out of somebody's nose and smeared it across their little papers."
A secret CIA report uncovered the exact same findings: $40 billion in assets.
It's Not Just Vladimir
His wealth has always been divided and held in a secret trust network monitored by his closest associates.
Putin's allies run the country.
Stunts And Adventures
His former assistant is the president of Rosneft, the world's largest oil company, and one of his ex-economists heads up Gazprom, the world's largest gas company.
Putin has become known for his bizarre escapades during his 15 years as president. In 2015, he hopped onboard a mini-submarine to dive down and explore a shipwreck on the bottom of the Black Sea.
Scamming Russia With False Promises
It wasn't the first time; he took a similar trip in 2009.
After a mansion was discovered on Russia's Black Sea coast, documents were leaked exposing its story. It turned out that a billion-dollar medical project helped to fund its construction.
Profiting Off Of The State
Russia allegedly made at least $195 million by collecting funds from the country's most wealthy citizens. The people believed they were contributing to healthcare.
The profits from those sales were then siphoned off accordingly.
Deny, Deny, Deny Again
At least $84 million was routed to Swiss bank accounts, and records indicate that $48 million was then funneled into a company that helped build the luxury palace.
The massive residence at Cape Idokopas reportedly contains a casino, theatre, church, swimming pools, helipads, and staff quarters.
Money Only Flows Upstream
Putin denies all of these allegations, of course.
Preoccupied With Wealth
“After 14 years in power of Russia, and the amount of money that the country has made, and the amount of money that hasn't been spent on schools and roads and hospitals and so on, all that money is in property, bank, Swiss bank accounts, shares, hedge funds, managed for Putin and his cronies,” said Bill Browder, a former fund manager in Russia.
Putin was “preoccupied with wealth from the start” according to Sergei Pugachev. “He didn’t hide it,” said Pugachev.
Public And Private Intertwined
“He knew he wanted to leave office a wealthy man.”
Decades Of Questionable Behavior
“The current system in Russia is based not on corruption in the traditional sense, but on a complete merger of public service and private business interests,” said Vladislav Inozemtsev, an economist and director of a think tank in Moscow.
Putin began his abuse of power back in the 1990s when he worked in the St. Petersburg Mayor's Office.
A $35 Million Gifted Yacht
He was accused of embezzlement of public resources, though investigations turned up no evidence.
Chelsea soccer club owner Roman Abramovich gifted a $35 million yacht to Putin in the early 2000s, a boat similar to the one pictured here.
A Collection Of Luxury Watches
It's shrouded in secrecy, though, and Abramovich's lawyers dismiss claims as "speculation and rumor."
A Personal Fleet Of Automobiles
Putin's collection of expensive watches is worth around $750,000, and his most expensive timepiece is a Lange & Sohne watch covered in crystal glass with gold arms.
Scores Of Airplanes
Vladimir owns around 700 different vehicles, including Formula 1 cars and an expensive 3.5-ton limousine packed with a long list of security features.
Putin owns a total of 43 airplanes—a billion dollars' worth, to be exact.
A Personal Meal Tester
The Presidential aircraft is filled with gold décor and custom designed to meet Putin's desires.
Putin's staff includes someone responsible for testing his meals to ensure that his food hasn't been poisoned. This was common practice in the medieval times of kings.
A $75,000 Golden Toilet
Today, not so much.
Twenty Presidential Residences
That's right—onboard Putin's Ilyushin Il-96 airliner, the cabin has been outfitted by jewelers with $18 million of décor and a golden toilet worth nearly $75,000.
A Fleet Of Helicopters, Too
Putin's presidential residences include the Constantine Palace on the Gulf of Finland, a ski lodge in the Caucasus Mountains, and a palace in the Moscow region.
In addition to his fleet of over 40 airplanes, Putin has access to around 15 different helicopters.
Some of the choppers serve presidential duties, while others are marked for private use.