What is Vladimir Putin's Net Worth?
Vladimir Putin is a Russian politician who has a net worth of $70 billion. Vladimir Putin began his political career in the early 1990s. He served as Deputy Mayor of Saint Petersburg under Mayor Anatoly Sobchak, focusing on international relations and attracting foreign investment. In 1999, Putin was appointed Prime Minister of Russia by then-President Boris Yeltsin, who later resigned, making Putin the Acting President of the Russian Federation.
In 2000, Putin won the presidential election and served two four-year terms until 2008. During his presidency, he implemented various reforms aimed at improving the economy, reducing poverty, and strengthening the rule of law. He also centralized power, bringing regional governments under federal control and cracking down on oligarchs who had amassed significant influence during the 1990s. Due to constitutional term limits, Putin was ineligible to run for a third consecutive term in 2008. He became Prime Minister once again, with his close ally Dmitry Medvedev serving as President. In 2012, Putin returned to the presidency after the constitution was amended to extend the presidential term to six years.
During his third and fourth terms, Putin focused on asserting Russia's geopolitical influence. He annexed Crimea from Ukraine in 2014, leading to international sanctions against Russia. He also intervened militarily in Syria, supporting President Bashar al-Assad's government. Constitutional changes introduced in 2020 allowed him to potentially remain in office until 2036, solidifying his grip on power. In February 2022, Putin oversaw Russia's invasion of Ukraine.
Vladimir Putin's Secret Billion Dollar Fortune
Official disclosures list Putin's annual Presidential salary at $187,000 (5.8 million rubles). In 2012, he reported an income of 3.6 million rubles ($113,000). Putin also claims to have a relatively meager net worth consisting of $180,000 in a savings account, a few Russian-made automobiles, and a 16,000-square-foot plot of land in the Moscow suburbs. Putin's ex-wife, Lyudmila, controls bank accounts totaling $260,000. In total, they claimed their net worth totaled less than $500,000.
While many previously state-owned industries were privatized, Putin allegedly has used his power to build large secret ownership stakes in several multi-billion dollar commodity firms. His most vocal critics assert that Putin has leveraged his power to acquire a 4.5% ownership stake in natural gas producer Gazprom, a 37% stake in oil company Surgutneftegas, and a 50% stake in Swiss oil trader Gunvor. Gazprom alone does over $150 billion in revenue annually; Guvnor does $80 billion and Surgutneftegas over $20 billion. Using their most recent market capitalizations, Putin's combined ownership stakes would give him a personal net worth of $70 billion.
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Early Life
Vladimir Vladimirovich Putin was born on October 7, 1952, in Leningrad, Russian SFSR, Soviet Union (what is now Saint Petersburg). His mother, Maria, was a factory worker, and his father, Vladimir Spiridonovich, was a conscript in the Soviet Navy. He began practicing the martial arts of Judo and sambo at age twelve and is a Judo black belt. Having studied German at Saint Petersburg High School 281, he speaks German fluently.
Putin studied Law at Leningrad State University (not Saint Petersburg University), graduating in 1975. It was while at university that he met Anatoly Sobchak, co-author of the Russian constitution, who was an assistant professor who taught business law. He was greatly influential in Putin's career.
Political Career
After earning a law degree, Putin's career in politics began with a 16-year stint serving in the KGB. He trained at the 401st KGB school in Okhta, Leningrad. After working monitoring foreigners and consular officials in Leningrad, he was sent to Moscow for further training at the Yuri Andropov Red Banner Institute in 1984. Following that, under the cover identity of a translator, he served in Dresden, East Germany, from 1985 to 1990. He relocated to Leningrad after the collapse of the Communist East German government, reconnecting with Anatoly Sobchak while at his post at the International Affairs section of Leningrad State University. Putin claims that on the second day of the 1991 coup attempt against then-President Mikhail Gorbachev, he resigned from the KGB because he did not agree with what had happened and no longer wished to be part of the intelligence operation of the new post-coup administration.
Sobchak, his former professor, soon became the Mayor of Leningrad, and Putin was appointed as head of the Committee for External Relations of the Mayor's Office. From there, he continued to build his political career through various political and governmental positions. In July 1998, then-President Boris Yeltsin appointed Putin as Director of the Federal Security Service (FSB), which is the successor to the KGB and the primary intelligence and security organization of the Russian Federation.
He was appointed acting Prime Minister of the Government of the Russian Federation by Yeltsin on August 9, 1999, and later that day, Putin agreed to run for the presidency after Yeltsin stated his desire to see Putin as his successor. His first Presidential term lasted from 2000 – 2008. Putin was also Prime Minister of Russia from 1999 – 2000 and again from 2008 – 2012. Over the years, Putin has earned a very controversial reputation. He is frequently criticized by other world leaders and political experts for his handling of human rights and foreign policy issues. Many Westerners have called the circumstances under which he has continued to hold office in Russia "undemocratic." Still, Putin has been fairly popular among the Russian people ever since taking over as President in 1999 following the surprise resignation of Boris Yeltsin.
In February 2022, Putin launched a large-scale invasion of Ukraine that provoked expanded sanctions and international condemnation. In March of 2023, the International Criminal Court issued an arrest warrant for Putin for war crimes such as illegal child abductions during the war.
(Photo by Peter Muhly – WPA Pool/Getty Images)
Personal Life and Public Image
Putin married Lyudmila Shkrebneva on July 28, 1983. They lived in East Germany from 1985 to 1990, where their daughter Yekaterina Putina was born. Their other daughter, Mariya Putina, was born in Leningrad. They announced their divorce in June 2013 and confirmed it had been finalized in April 2014. It's reported that Putin has two grandsons and a granddaughter.
It's been rumored that Putin lives in a palace on an estate worth $1.5 billion with gymnast girlfriend Alina Kabaeva. It has not been confirmed, and reports of the relationship have been denied.
His public image is fairly unique for a politician, largely characterized by his "macho" outdoorsy image. He has been famously shirtless on several occasions or engaging in various dangerous and extreme sports. He is also famous for his "Putinisms," aphorisms that come from his unique use of the Russian language (similar to how George W. Bush is famous for his malapropisms here in the United States). One example of "Putinism" occurred during an interview with American journalist Larry King, who asked him what happened to a Russian submarine that had been lost in an explosion – Putin answered simply, "She sank."
