Vladimir Putin Net Worth 2022: Elon Musk believes that ‘Putin is much wealthier than Him.’

Vladimir Vladimirovich Putin (born 7 October 1952) is a Russian politician and former intelligence officer who now serves as President of Russia. He previously served as President from 2000 to 2008. From 1999 to 2000, and again from 2008 to 2012, he served as Prime Minister. Putin is Europe’s second-longest-serving president, behind Belarus’ Alexander Lukashenko.

He spent 16 years as a KGB foreign intelligence officer, attaining to the rank of lieutenant colonel, before leaving in 1991 to pursue a career in politics in Saint Petersburg. He relocated to Moscow in 1996 to join President Boris Yeltsin’s cabinet. He temporarily served as director of the Federal Security Service (FSB) and secretary of the Security Council prior to his August 1999 appointment as Prime Minister. Putin became acting president following Yeltsin’s resignation and was elected outright to his first term as president less than four months later. In 2004, he was re-elected. Putin served as Prime Minister again from 2008 to 2012 under Dmitry Medvedev, and returned to the presidency in 2012 in an election marked by claims of fraud and demonstrations; he was re-elected in 2018. He signed constitutional amendments into law in April 2021, following a vote, including one that would allow him to run for reelection twice more, perhaps extending his presidency to 2036.

The Russian economy increased by an average of 7% per year during Putin’s first term as president, largely to economic reforms and a fivefold increase in the price of oil and gas.

Putin led Russia during the Second Chechen War, regaining control of Chechnya for the Russian Federation. He oversaw military and police reforms throughout Medvedev’s tenure as Prime Minister, as well as Russia’s triumph over Georgia. Russia annexed Crimea and funded a conflict in eastern Ukraine during his third term as president, leading in international sanctions and a financial catastrophe in Russia. His government responded to the COVID-19 outbreak during his fourth term as president, and he presided over a military buildup on Ukraine’s border. Putin authorized a full-scale invasion of Ukraine in February 2022, prompting international criticism and isolation, as well as the expansion of sanctions, resulting in a financial catastrophe in Russia and calls for Putin’s indictment for war crimes.

Russia has regressed democratically and shifted toward authoritarianism under Putin’s rule. Putin’s leadership has been marked by widespread corruption, the imprisonment and repression of political opponents, the intimidation and harassment of Russia’s independent media, and the absence of free and fair elections.  Putin’s Russia has consistently scored low on Transparency International’s Corruption Perceptions Ranking, the Economist Intelligence Unit’s Democracy Index, and Freedom House’s Freedom in the World index.

Early Life:

Putin was born in Leningrad, Russian Soviet Socialist Republic, Soviet Union (now Saint Petersburg, Russia) on 7 October 1952, the youngest of three children of Vladimir Spiridonovich Putin (1911–1999) and Maria Ivanovna Putina (née Shelomova; 1911–1998). Spiridon Putin, his grandpa, was a personal chef to Vladimir Lenin and Joseph Stalin.  Putin’s birth was preceded by the deaths of two brothers: Albert, born in the 1930s, died in infancy, and Viktor, born in 1940, died in 1942 of diphtheria and malnutrition during Nazi Germany’s siege of Leningrad.

Putin’s mother worked in a factory, while his father was a conscript in the Soviet Navy in the early 1930s, serving in the submarine fleet. His father served in the NKVD’s demolition battalion during World War II. He was then deployed to the regular army and suffered a terrible wound in 1942. Putin’s maternal grandmother was assassinated by German occupants of the Tver region in 1941, while his maternal uncles vanished during World War II on the Eastern Front.

Putin began his education on 1 September 1960 at School No. 193 on Baskov Lane, near his house. He was one of only a few pupils in his class of around 45 who were not yet Young Pioneer members. He began practicing sambo and judo at the age of 12. He enjoyed reading the works of Karl Marx, Friedrich Engels, and Vladimir Lenin in his spare time.  Putin attended Saint Petersburg High School 281, where he studied German. He also speaks German as a second language.

Education

Putin earned a bachelor’s degree in law from Leningrad State University named after Andrei Zhdanov (now Saint Petersburg State University) in 1970.

His thesis was titled “International Law’s Most Favored Nation Trading Principle.” He was compelled to join the Communist Party of the Soviet Union (CPSU) while there and remained a member until August 1991, when it was outlawed. Putin met Anatoly Sobchak, an assistant professor of corporate law who eventually co-authored the Russian constitution and exposed French corruption practices. Putin would have a significant influence on Sobchak’s career in Saint Petersburg, while Sobchak would have a significant influence on Putin’s career in Moscow.

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Vladimir Putin’s Net Worth:

Vladimir Putin is a Russian politician who is estimated to be worth $70 billion. He has established a very contentious international reputation throughout the course of his career, which includes spells as President and Prime Minister of Russia. He is presently completing his second term as Russia’s President, having taken office in 2012.

The world’s Richest individual.

Vladimir Putin shares a number of significant characteristics to Joe Biden. Both have been public servants their entire lives and have built careers on the appearance of being connected to the working man.

For most of his political career, “Middle-class Joe” was consistently classified as one of the poorest members of Congress. When he left the White House in 2016, his tax forms indicated that he had a net worth of little over $1 million. Joe Biden is now worth roughly $9 million, according to his most current public financial filings, thanks to a boom of speaking fees and book sales garnered in the years before he was elected President.

Finally, there is Vladimir Putin.

If the Kremlin’s August 2019 financial declarations are to be believed, Vladimir Putin might as well be dubbed “Middle-Class Vlad.” Putin’s alleged net wealth is almost comically low.

Vladimir’s 2019 financial disclosure stated that he had a total annual income of $135,000. It then enumerated his most valuable earthly possessions as follows:

  • A Saint Petersberg apartment of 830 square feet (with access to a 200 square foot garage!)
  • A Moscow apartment of 1,600 square feet
  • Two antique Russian GAZ M21 vehicles are estimated to be worth between $20 and $30,000.
  • A Lada Niva SUV is estimated to be worth approximately $6,000
  • A towable camper tent trailer for $900

I have no clue how those two flats (plus the garage) are valued, but based on the disclosed assets and income, one may assume Vladimir Putin’s overall net worth is in the neighborhood of several hundred thousand dollars. And, indeed, it would correspond to his reported net worth of $500,000 in 2012, two years before he and his wife of 30 years, Lyudmila, divorced.

Perhaps we should not be so dismissive of Vladimir’s humble origins. After all, he has dedicated his entire life to the service of the government.

On the other side, many extremely intelligent people believe Vladimir Putin is secretly…

Career in Politics

Putin’s political career began with a 16-year tenure in the KGB following his law degree. He received his training at the KGB’s 401st school in Okhta, Leningrad. After working in Leningrad monitoring foreigners and consular officials, he was transferred to Moscow in 1984 for additional training at the Yuri Andropov Red Banner Institute. Following that, he served in Dresden, East Germany, from 1985 until 1990 under the guise of a translator. He relocated to Leningrad following the collapse of the Communist East German government, where he reconnected with Anatoly Sobchak while working at Leningrad State University’s International Affairs section. Putin states that he resigned from the KGB on the second day of the 1991 coup attempt against then-President Mikhail Gorbachev because he disagreed with what had occurred and no longer desired to be a part of the new post-revolution administration’s intelligence operation.

Sobchak, his former professor, was soon named Mayor of Leningrad, and Putin was appointed chairman of the Mayor’s Office’s Committee for External Relations. From then, he advanced his political career by serving in a variety of political and governmental posts. Putin was appointed Director of the Federal Security Service (FSB) by then-President Boris Yeltsin in July 1998. The FSB is the successor of the KGB and the Russian Federation’s premier intelligence and security body.

On August 9, 1999, Yeltsin designated him acting Prime Minister of the Russian Federation, and later that day, Putin agreed to run for the presidency after Yeltsin expressed his intention for Putin to succeed him. His first term as President ran from 2000 to 2008. Putin served as Russia’s Prime Minister from 1999 to 2000 and again from 2008 to 2012. Putin has developed a highly polarising reputation over the years. Otherworld leaders and political analysts routinely criticize him for his management of human rights and foreign policy concerns. Numerous western observers have labeled the circumstances in which he has retained government in Russia as “undemocratic.” Putin has maintained a relatively high level of popularity among the Russian people since assuming the presidency in 1999 following Boris Yeltsin’s sudden departure.

Vladimir Putin Salary

Putin’s annual presidential salary, according to official reports, is $187,000 (5.8 million rubles). He earned 3.6 million rubles ($113,000) in 2012. Putin also claims to have a paltry net worth of $180,000, consisting of a savings account, a few Russian-made autos, and a 16,000-square-foot plot of land in the Moscow suburbs. Lyudmila Putin, Putin’s ex-wife, manages bank accounts totaling $260,000. They claimed a combined net worth of less than $500,000

Many Russian insiders and analysts believe that Putin has used his power to accomplish little more than enhance life for the average Russian citizen during his reign. While many previously state-owned enterprises have been privatized, Putin is said to have used his position to acquire substantial hidden shares in numerous multibillion-dollar commodity firms. Putin’s most outspoken critics claim that he used his influence to acquire a 4.5 percent share in natural gas producer Gazprom, a 37% investment in oil business Surgutneftegas, and a 50% stake in Swiss oil trader Gunvor. Gazprom alone generates approximately $150 billion in annual revenue, Guvnor generates over $80 billion, and Surgutneftegas generates over $20 billion. Putin’s aggregate ownership shares in these companies, based on their most current market capitalizations, would result in a personal net worth of $70 billion.

Elon Musk believes that ‘Putin is much wealthier than me.’

Elon Musk, whose estimated net worth is $260 billion (roughly), is not under the impression that he is the ‘world’s richest man living.’

Elon Musk, the tech billionaire who is currently the world’s wealthiest person, believes the title belongs to someone else. Tesla and SpaceX CEO Elon Musk, whose net worth is estimated to be $260 billion (roughly), is not under the impression that he is the ‘world’s richest man living.

According to Musk, Russian President Vladimir Putin is deserving of the title of ‘richest man.’ Musk stated this in a Business Insider interview. Musk was asked about his net worth and responded, “I believe Putin is substantially wealthier than me.”

Personal Life and Public Image

On July 28, 1983, Putin married Lyudmila Shkrebneva. From 1985 until 1990, they lived in East Germany, where their daughter Yekaterina Putina was born. Mariya Putina, their other daughter, was born in Leningrad. They announced their divorce in June 2013, and it was verified in April 2014 that it had been finalized.

His public image is quite distinctive for a politician, is mostly defined by his “macho” outdoorsy persona. He is well-known for going shirtless on multiple occasions and participating in a variety of perilous and extreme activities. He is also well-known for his “Putinism,” aphorisms derived from his singular command of the Russian language (similar to how George W. Bush is famous for his malapropisms here in the United States). One instance of “Putinism” came during an interview with American journalist Larry King, during which King inquired about the fate of a Russian submarine that was lost in an explosion; Putin responded simply, “she sank.”

 

Lisa Fuson

Lisa has been covering Netflix since 2014, and has spent up to 10 years covering the comings and goings of the Streaming library. Currently resides in the United Kingdom. Outer Banks, Ozark, Black, and On My Block, and Stranger Things are among my favourite Netflix series.