Thursday, 02 July, 2020
In Stepanakert:   +21 °C

How much does Vladimir Putin earn? Not as much as last year...

How much does Vladimir Putin earn? Not as much as last year...
Monday, 15 April, 2019, 23:10

Vladimir Putin’s salary decreased by more than half in 2018 compared to the year before. His latest financial disclosure indicated that the Russian leader earned 8.6 million rubles (€119,048.40) in 2018 from his official salary, a military pension, interest on savings, and investment gains — a significant cut from 2017 when he earned 18.7 million rubles (€257,307.02).

The Russian financial newspaper said that Putin's 2017 salary could be explained by the earnings he made out of a plot of land he sold that year. The disclosure, which is posted on the Kremlin's website every year, also only listed two properties under Putin's name: a 77-square metre apartment with an 18-square metre garage, which he owns and a 153.7 square metre apartment reserved for presidential functions in Moscow.

Putin also reported owning three cars and a trailer: two vintage Volgas GAZ M21 sedans, a lady NIVA SUV, and a Skif tent trailer, which is valued at €800.

When official documents are contested

However, some Kremlin critics like Hermitage Capital Management CEO Bill Browder — who was one of Russia's biggest foreign portfolio investors but was kicked out in 2005 — contests the "official" figures. In 2017, Browder told a Senate Judiciary Committee that Putin was "one of the richest men in the world". “I estimate that he has accumulated $200 billion (€177 billion) of ill-gotten gains from these types of operations over his 17 years in power,” said the CEO. A report by the International Consortium of Investigative Journalist revealed that most of Putin's wealth might actually be legally held by his close associates and family members.