Politics: How Vladimir Putin spends his mysterious fortune rumored to be worth $70 billion

The Russian President is reportedly worth $70 billion, which would make him one of the richest men in the world.

No one knows exactly how much Russian President Vladimir Putin is worth.

Some claim Putin is the richest man in the world, yet according to the Kremlin, he earns around $133,000 a year and lives in a small apartment.

One former Russian government adviser estimated his fortune is worth $70 billion. Hedge fund manager Bill Browder, a noted critic of Putin, claimed it was more like $200 billion.

We’ve put together a list of things that Putin is believed to have spent money on.

As President of Russia, Putin's official residence is the Moscow Kremlin. However, he spends most of his time at a suburban government residence outside of the city called Novo-Ogaryovo.

Source: Business Insider

He reportedly has access to 20 different palaces and villas.

Source: Up North

Official records published in 2016 by the Kremlin would have us believe that Putin has a very modest real estate portfolio. The report said he owned a small plot of land and an apartment with a garage.

Source: Newsweek

But over the years, Putin has been linked to other properties. The most controversial of which is the so-called "secret palace." This was reportedly built for Putin using illegal state funds.

Source: BBC

This epic mansion reportedly cost $1 billion to build. It has a private theater and landing pad with room for three helicopters.

Source: Business Insider

The bedrooms are suitably grandiose.

In 2012, a dossier was drawn up by a political rival of Putin which claimed that Putin owned multiple private jets, helicopters, and yachts.

The report claimed his lifestyle could be compared to that of a "Persian Gulf monarch or a flamboyant oligarch," not, as Putin had formerly claimed, to the life of a "Galley Slave."

Source: New York Times

He is accused of owning 58 different types of aircraft, including a Dassault Falcon, which seats 19.

One of his planes was said to have an $11 million cabin fitted out by jewelers and that toilet which cost close to $100,000. This plane has room for up to 186 passengers. Putin is accused of owning five of these.

Source: Daily Mail and Business Insider

The dossier claimed Putin has a collection of four yachts, each costing thousands of dollars to maintain. Rossiya, one of his yachts, was upgraded in 2005. It reportedly cost $1.2 billion to do. "The Graceful," another of his yachts, (shown below) reportedly sleeps 14 people and has six bedrooms.

Source: Time

Then there's Olympia. He was reportedly given this 57-meter luxury yacht, worth $35 million, as a gift from Chelsea football club owner and oligarch Roman Abramovich. According to a former head of a state shipping company in Russia, Putin runs the yacht using state money.

Source: The Telegraph

Putin also likes to take pride in his appearance. The 2012 dossier claimed it Putin has 11 watches worth an estimated $687,000.

Source: New York Times

According to the Russian government-owned paper "Russia Beyond the Headlines," Putin owns an A. Lange & Söhne Tourbograph Perpetual 'Pour Le Mérite,' which costs half a million dollars.

Source: Russia Beyond the Headlines

A $1 million Patek Phillippe going up for auction in July 2017 was also said to be owned by Putin. Accompanying documentation claimed he was the owner. The Kremlin denied these claims.

Source: Business Insider

In the past, Putin has even given away his watches. The president reportedly owned five Blancpain watches at one time but gave away one to a Siberian boy while on vacation and another to a factory worker. The watches were reportedly worth $10,500 each.

Source: Blancpain and ABC News.

Then there's his clothing. Newsweek's Ben Judah spent three years researching Putin for his book and claimed that Putin prefers bespoke suits and Valentino ties over anything else.

Source: Business Insider

Russian government-owned paper “Russia Beyond the Headlines” confirmed Putin’s expensive taste for tailored suits. In 2015, it published an article claiming that the president's preferred brand of suits was Kiton and Brioni, “Such suits are made ?from start to finish by one tailor, take dozens of hours to complete, and have a starting price tag of $5500,” the article said.

According to "Russia Beyond the Headlines", Putin also has a stylist who has been dressing him for over 10 years. “The stylist rips off all the labels from his clothes, so these do not accidentally catch the eyes of journalists."

Source: Russia Beyond the Headlines

In 2015, Putin was photographed working out with Russian Prime Minister Dimitri Medvedev. Quartz reported that his Loro Piana silk and cashmere-blend sweatpants cost $1,425.

Putin teamed this with a matching top, making the outfit cost a whopping $3,200 in total.

Source: Quartz

The Russian President is reportedly worth $70 billion, which would make him one of the richest men in the world. Read Full Story