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How Vladimir Putin Stashed Away A Secret $70 Billion Personal Fortune
celebritynetworth ^ | February 7, 2014 | By Brian Warner

Posted on 03/16/2014 9:27:50 AM PDT by Grzegorz 246

In order to prevent corruption and conflicts of interest within government, many major countries around the world require that their highest level leaders release annual reports disclosing their most recent income, tax returns, salary and personal net worth. For example, Barack Obama's, tax return last year showed that he and Michelle grossed $608,611 for the calendar year 2012 (his 2013 tax forms should be released soon). Most of that income came from Barack's book royalties and $400,000 Presidential salary. Believe it or not, Russia actually has the same requirement for its leaders. Including current President, Vladimir Putin. Last April, Putin revealed both his salary and estimated net worth. Unfortunately something just didn't add up. Putin's disclosure portrayed the controversial leader as a humble man of the people with very meager, practically non-existent, income and assets. This portrayal did not sit well with many experts of Russian government and politics. These experts agree that, without question, Putin has used his last decade of absolute power and wholehearted corruption to stash away a vast personal fortune estimated at more than $70 billion. A fortune that simply does not jibe with the humble, man-of-the-people, portrait Putin paints of himself.

Vladimir Putin is currently serving his second term as the President of Russia. His first Presidential term lasted from 2000 – 2008. Putin was also Prime Minister of Russia from 1999 – 2000 and again from 2008 – 2012. In last April's financial disclosure, Putin listed his "official" Presidential salary at $187,000 (5.8 million rubles). And while this salary has gone up more than 50% since last year, it's still significantly lower than the $400,000 that Barack Obama earns annually to run The United States of America. Putin further claims to have a relatively meager net worth. His paltry personal assets include a bank account with $180,000, three Russian made cars, an apartment in Moscow with a garage and a 16,000 square foot plot of land in the Moscow suburbs. Putin also revealed that his wife Lyudmila controls bank accounts totaling $260,000 and pulled in a 2013 income of just $3,900. That's three thousand nine hundred dollars. We did not forget a zero. In total, Putin estimates his own net worth at less than $500,000. By comparison, Obama's reported net worth has increased from $200,000 when he first stepped into the Oval Office to nearly $12 million today. That's a 5900% increase in net worth between 2000 and 2014 (the same time period Putin has essentially ruled Russia).

So what's wrong with believing that Putin earns just $187,000 per year and has a relatively unsubstantial net worth? After all, Putin came from very humble beginnings. Just breaking into the middle class would be a big win for anyone with his background. His mother was a factory worker and his father was in the Soviet navy. The family lived together in a low-income communal housing project. The family was hardworking and lower class but somehow managed to send young Vladimir to college and law school. After graduating from college with a law degree, Putin spent the next 16 years working as a KGB agent. In 1988, the official White House photographer inadvertently photographed Putin spying on President Ronald Reagan while disguised as a regular Russian tourist in Moscow.

After retiring from the KGB in 1991, Putin used his connections to land a job as the head of the Committee for External Relations to the mayor of St. Petersburg. By 1994 he had risen to the deputy head of the city administration for St. Petersburg and by 1997 Putin was also running the "Our Home Is Russia" political party. Putin then moved to Moscow where he was quickly made Chief of Presidential Staff by then President Boris Yeltsin. Yeltsin eventually appointed him to the role of Prime Minister and named Putin as his chosen successor.

After Yeltsin unexpectedly resigned on December 31st, 1999, Putin became the acting President of the Russian Federation and thereby launched a nearly 15 year reign of absolute power and control. During his reign, many Russian insiders and experts believe that Putin has used his power to do a little more than improve life for the common Russian citizen. While many previously state-owned industries were privatized, Putin allegedly has used his power to build large secret ownership stakes 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 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!

So what evidence is there of Putin's secret obscene fortune? Let's start with the small stuff. Putin is known to sport a $150,000 Patek Philippe watch on most occasions and his total collection has been valued at $700,000. He also has full access to a $40 million ultra-luxury yacht that features a wine cellar, Jacuzzi, helipad and outdoor barbecue area. In terms of living accommodations, Putin has access to 20 mansions throughout the world including a lavish ski lodge and Medieval castle. The crown jewel of his property portfolio is a $1 billion palace overlooking the Black Sea that he allegedly owns through an anonymous trust. Furthermore, Putin makes frequent use of 15 Presidential helicopters and more than 40 private jets, many of which feature gold plated interiors.

If Vladimir Putin's net worth truly sits at $70 billion, that would be enough to make him the third richest person on the planet right behind Bill Gates and Carlos Slim Helu. It would likely also represent one of the largest personal fortunes ever accumulated by a sitting President. The only other world leader who possibly looted more cash from his country was Muammar Gaddafi, who after 40 years of power stashed away a reported $200 billion in ill-gotten oil money.

There's probably never going to be a way to fully scrutinize Putin's wealth, but at the very least it's safe to assume his official declarations are not the full picture. Do you believe that Putin is worth $70 billion?


TOPICS: Foreign Affairs; News/Current Events; Russia
KEYWORDS: billionaires; oligarchy; putin; russia
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Mmm so the holy shirtless is not only sexy, he is also one of the world's wealthiest people. What a man. A true leader.
1 posted on 03/16/2014 9:27:50 AM PDT by Grzegorz 246
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To: Grzegorz 246

probably the same way Obama and his crony buddies are stashing away secret money pilfered from American taxpayers.

It so easy, even a cave man could do it.


2 posted on 03/16/2014 9:29:31 AM PDT by dforest
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To: Grzegorz 246

SO LETS OPEN UP THE BOOKS ON OUR VERY OWN RATS LIKE PELOSI REID,JACKSON LEE, CONYERS. Yea babe! How much did yall make when you first came to DC?


3 posted on 03/16/2014 9:30:02 AM PDT by ronnie raygun (Zippy the a##clown sez..............)
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To: Grzegorz 246

story is doubtful. Probably just part of the marginalize, delegitimize, ostercize, criminalize steps. No doubt he has money, but who really needs to steal 60B dollars?


4 posted on 03/16/2014 9:32:47 AM PDT by Usagi_yo (Standardization is an Evolutionary dead end.)
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To: Grzegorz 246

Just substitute any variety of Dem/Prog/Lib names for “Putin” in this article, including Obama.


5 posted on 03/16/2014 9:33:10 AM PDT by Qiviut (It's hard to be a donk if you're sane & it's hard to be a pubbie if you have any integrity.)
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To: dforest

One day I think we’ll find that Obama and his cronies stole hundreds of billions of dollars.


6 posted on 03/16/2014 9:33:32 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Grzegorz 246

This is something, though, I really don’t get. Entrepreneurs have big personal fortunes because they are ALWAYS building something big, making grand projects. But if you’re Putin, or a sheik, what good does that money do you? You can’t spend it in a lifetime, and you’re stuck in Russia, not on a beach in the Caribbean. I mean, seriously: unless money is your TOOL, what good does more than $10m do you?


7 posted on 03/16/2014 9:33:52 AM PDT by LS ('Castles made of sand, fall in the sea . . . eventually.' Hendrix)
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To: cripplecreek

In illegal election donations alone.


8 posted on 03/16/2014 9:34:35 AM PDT by sport
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To: Grzegorz 246

“He also has full access to a $40 million ultra-luxury “

Obama is being given a “He also has full access to a $40 million ultra-luxury” condo in Hawaii.


9 posted on 03/16/2014 9:35:26 AM PDT by CodeToad (Keeping whites from talking about blacks is verbal segregation!)
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To: LS

escape funds for an apartment in paris for when the tanks park outside the kremiln and face inward


10 posted on 03/16/2014 9:36:01 AM PDT by morphing libertarian
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To: sport

Obama Crony Cameron Davis was named great lakes czar in 2009 and given a $20 billion budget and I can’t find that he’s done anything since. Its like he got the money and disappeared.


11 posted on 03/16/2014 9:37:15 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Grzegorz 246
I would not be surprised if a bunch of it is what was withdrawn September 29, 2008 to set up the “bail outs” that Obama is so proud of.
12 posted on 03/16/2014 9:38:34 AM PDT by mountainlion
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To: Grzegorz 246

Russia deserves the president it has, just like us.


13 posted on 03/16/2014 9:39:56 AM PDT by DungeonMaster (No one can come to me unless the Father who sent Me draws him.)
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To: Grzegorz 246

I’m sure Obama and his cronies have their secret stash too.

Don’t forget the $900 billion stimulus money that just disappeared.


14 posted on 03/16/2014 9:40:21 AM PDT by Iron Munro (Albert Einstein: The difference between stupidity and genius is that genius has its limits)
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To: Usagi_yo

you feel sorry for this murdeius thug who was KGB agent in East Germany .?Marginalize a monster like Putin !
this guy is a evil sob who oversaw East German Stasi programs that killed and tortured thousands!
Who are you trying to fool here ?


15 posted on 03/16/2014 9:44:14 AM PDT by ncalburt ( Amnesty-media out in full force)
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Putin Spying on Reagan.
16 posted on 03/16/2014 9:45:13 AM PDT by Grzegorz 246
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To: Iron Munro
Don’t forget the $900 billion stimulus money that just disappeared.

Let's not forget this one either:

Obama’s Defense Department appointees – The $3.4 Trillion Dollar Question

17 posted on 03/16/2014 9:45:40 AM PDT by Errant (Surround yourself with intelligent and industrious people who help and support each other.)
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To: Grzegorz 246

Life is good when you become dictator.

To the hapless proles and serfs, not so much.

Coming to a north american country near you!


18 posted on 03/16/2014 9:46:46 AM PDT by factoryrat (We are the producers, the creators. Grow it, mine it, build it.)
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To: cripplecreek

I always think about the theft. You are right. It would be phenomenal!

Corzine alone took millions from people with no repercussions. His son commits suicide. Hmmn?


19 posted on 03/16/2014 9:54:49 AM PDT by dforest
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To: factoryrat
$1 Billion Black Sea Place






20 posted on 03/16/2014 9:56:17 AM PDT by Grzegorz 246
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To: Grzegorz 246

Orwell was right about socialism...some pigs are more equal than others.


21 posted on 03/16/2014 9:58:41 AM PDT by Scooter100
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To: Grzegorz 246

$70 billion? I guess $69 billion wasn’t enough.


22 posted on 03/16/2014 9:58:51 AM PDT by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: LS
I mean, seriously: unless money is your TOOL, what good does more than $10m do you?

I can only imagine that it's an ego thing.

23 posted on 03/16/2014 9:59:56 AM PDT by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: Grzegorz 246

Connections do pay off it’s why hacks get into the business it’s why they took down most of the Mafia.


24 posted on 03/16/2014 10:03:13 AM PDT by Vaduz
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To: Grzegorz 246

I wonder how much of that is skimmed from Russian phishers.


25 posted on 03/16/2014 10:05:52 AM PDT by Fido969 (What's sad is most)
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To: Grzegorz 246
wow ,
that is amazing photo.

Where are all the Putin loving trolls now ?
.
read this lovely summary about the thug.

http://www.iie.com/publications/papers/paper.cfm?ResearchID=679

Where are the Putin trolls worried about marginalizing this poor evil tyrant ?

26 posted on 03/16/2014 10:06:18 AM PDT by ncalburt ( Amnesty-media out in full force)
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To: cripplecreek
One of the the first things Obama did when he became president was visit the Arab oil barons. Since then the price of oil has steadily been at areas where it only has intermittent peaks before.

I'm convinced that Obama extracted billions from those guys.

27 posted on 03/16/2014 10:07:49 AM PDT by Fido969 (What's sad is most)
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To: ncalburt

Problem we have is that Obama ain’t no Reagan. He is a weak equivalent to Putin.


28 posted on 03/16/2014 10:08:46 AM PDT by dforest
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To: ncalburt

Most people do not like Putin, but they recognize the fact that the US is no longer a free country any more than Russia is.


29 posted on 03/16/2014 10:10:20 AM PDT by dforest
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To: dforest

Leaving the question, which of the two do you not follow—Russia or the United States?


30 posted on 03/16/2014 10:13:34 AM PDT by 1rudeboy
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To: Fido969

I’m not convinced that Obama is smart enough to do that.


31 posted on 03/16/2014 10:13:46 AM PDT by ladyjane
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To: Grzegorz 246

Dictators always steal billions. Whether they live to spend them is another matter.


32 posted on 03/16/2014 10:37:24 AM PDT by ozzymandus
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To: Grzegorz 246

Long-lost cousin Vlad will be getting a birthday card from me this year...


33 posted on 03/16/2014 10:38:56 AM PDT by trebb (Where in the the hell has my country gone?)
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To: dforest

Putin is a KGB monster .
For you to try to justify Putin’s reign of terror
in Russia is bizarre.
Putin hates the US and you too !
Obama is a puppet of some leftist rich bagman not a monster wanting to

Putin is ugly dangerous creature Read all about the thugs now in charge in
eastern Ukraine.
http://time.com/19097/putin-crimea-russia-ukraine-aksyonov/


34 posted on 03/16/2014 10:42:38 AM PDT by ncalburt ( Amnesty-media out in full force)
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To: LS
what good does more than $10m do you?

It can get you one of these


35 posted on 03/16/2014 10:44:23 AM PDT by piroque ("In times of universal deceit, telling the truth becomes a revolutionary act")
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To: 1rudeboy

I think these Paulbots have lost it.

Putin would that useful in a prison with the rest of his political enemies.


36 posted on 03/16/2014 10:44:25 AM PDT by ncalburt ( Amnesty-media out in full force)
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To: Grzegorz 246

Aside from being ruthless like a Bond villain, he is also one smart ruskie.

I think it’s a good idea to take him lightly...you know, because he is a silly Russian.

Methinks that would be a mistake.


37 posted on 03/16/2014 10:45:28 AM PDT by Vermont Lt (If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
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To: dforest

Most people do not like Putin, but they recognize the fact that the US is no longer a free country any more than Russia is.


Not everything is about the kenyan. Moral equivalence trash belongs at the DUmp.


38 posted on 03/16/2014 10:49:54 AM PDT by lodi90
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To: Grzegorz 246

It’s a far, far stretch but this somehow reminds me of the man who became governor of Alabama (I think the year of the election was 1948), Big Jim Folson, also known as “Kissing Jim” because of all the babies—not babes, you understand—that he kissed while campaigning.

Big Jim told the Alabama electorate that they should understand that he planned to steal from them but they also were assured that he was going to build a lot of rural roads for them.

He kept both promises.


39 posted on 03/16/2014 10:52:31 AM PDT by OldPossum ("It's" is the contraction of "it" and "is"; think about ITS implications.)
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To: Usagi_yo

He did not steal it per se. But when they were nationalizing he gas concerns, the oligarchy cut him off a piece here and there. As those pieces grew he was able to buy or have himself granted larger and larger pieces of the pie.

And when you look at his movements in Ukraine, most of the strategy has to do with controlling gas lines from the Middle East to Europe.

Imagine Obama owning a 20% of the holding company that owned the keystone pipeline. Imagine what that would do to the process.

Word on the street is that Carter and his crew wanted to set up a similar deal in ‘79 and the Shah told him to go back and suck peanuts. Look how that worked out.

When a reason given is “nationalistic and patriotic” it’s crap.


40 posted on 03/16/2014 10:52:42 AM PDT by Vermont Lt (If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
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To: Vermont Lt

Aside from being ruthless like a Bond villain, he is also one smart ruskie.


Putin is a murdering thug and a gluttonous pig. Nothing smart about that. His run as leader of the Russian kleptocracy has been a disaster for the Russian people. The wealth of the nation has been stolen. Those who opposes this thievery are arrested, jailed or murdered.


41 posted on 03/16/2014 10:55:40 AM PDT by lodi90
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To: Grzegorz 246
Putin Spying on Reagan.

Spying? LOL!

42 posted on 03/16/2014 11:03:21 AM PDT by Hot Tabasco (Was Occam's razor made by Gillette?)
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To: lodi90

The designation of “smart” doesn’t denote admiration. He is smart in the same way the head of an organized crime family can be.

An objective assessment is not meant to be complimentary. Rather, people in the US sometime get blinded by our moral code that we fail to see our enemy’s strengths.

My view of him is that of a very cunning and dangerous animal—not one that will attack you head on, but who will probe and retreat until the weakness is found.

And our weakness plays a lot of golf.


43 posted on 03/16/2014 11:07:03 AM PDT by Vermont Lt (If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
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To: Scooter100

Russia is more capitalist than the US.....


44 posted on 03/16/2014 11:08:19 AM PDT by Vermont Lt (If you want to keep your dignity, you can keep it. Period........ Just kidding, you can't keep it.)
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To: ncalburt

Putin is bad, Obama is bad. Do you really believe Obama means you well.

Why don’t you run along and ask the Tea Party if Obama and his IRS are upstanding and moral and on YOUR side.

Now I am going to go laugh.

I am not supporting Putin, you are being played. Obama and Putin are a lot alike except Putin isn’t a priss like Obama.

Both want to take away your freedom. Only one is foolin’ ya and in control of you. One is a bigger threat at this moment. Who do you think that is?


45 posted on 03/16/2014 11:09:03 AM PDT by dforest
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To: lodi90

i am not being morally equivalent. In case you have not noticed, Obama is.

This is how we lose.


46 posted on 03/16/2014 11:10:49 AM PDT by dforest
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To: 1rudeboy

Obviously you have no idea how you have been stolen from. Theft is theft, no matter who does it.


47 posted on 03/16/2014 11:13:58 AM PDT by dforest
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To: Grzegorz 246


48 posted on 03/16/2014 11:15:37 AM PDT by JoeProBono (SOME IMAGES MAY BE DISTURBING VIEWER DISCRETION IS ADVISED;-{)
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To: Grzegorz 246

I bet the thing that pissed Putin and his buddies off the mist about the whole recent Ukrainian conflict is the photos that came out featuring the ridiculously lavish residences of Yankulevich & co. That’s a little too close to home.


49 posted on 03/16/2014 11:16:31 AM PDT by denydenydeny (Admiration of absolute government is proportionate to the contempt one has for others.-Tocqueville)
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To: Grzegorz 246

In this sense, he’s a typical dictator, like Noriega or some other Third World President for Life. The difference is he’s armed with nuclear weapons, determined to establish another Russian Empire, and he’s willing to help the Iranians get a nuclear weapon. He’s actually a very dangerous but clearly wealthy fool. Now, before his fan club gets here and starts telling us he’s swell compared to Obama, I agree that they both are control freaks and statists. Putinistas get their panties in a bunch because they see Putin as the conservative alternative, the apotheosis of good conservative government. Sadly, they’re being duped.


50 posted on 03/16/2014 11:19:02 AM PDT by elhombrelibre (Free Ukraine. Free Venezuela. Free Syria. Free Iran. Free the USA.)
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