It makes news headlines every time that Jeff Bezos and Bill Gates switch places as the richest person on earth. What you have to remember is that those rankings are based on publicly available data. They don't include people who have enough money and power to hide their wealth. And then there's the problem of defining exactly what we mean by wealth. Cash and property are measurable, while the ability to use money that belongs to other people usually doesn't factor into the tally. And what about the power wielded by enriching and therefore obligating others? These abilities lead some to assert that the richest person in the world is actually Vladimir Putin.
Once elected, Putin, like his predecessor, reported his finances and holdings publicly, including his salary and exact amount in his many bank accounts. He has continued to do so since. The result? Over the years while his salary has changed regularly from year to year, he has made approximately $100K-$190K annually in that span, for example in 2018 reporting an income of $135K. Today between his wife’s and his own accounts, the couple seem to have a little over a half a million in cash in various bank accounts, though why he isn’t investing this is rather curious given his apparent lack of any other investments and almost complete lack of actually needing any cash for his day to day life given the government foots the bill for most everything. Of this, Putin states, “Honestly speaking, I don’t even know what my salary is. They deliver it to me, I take it, put it my bank account and don’t even count it…”
As for his other assets, he also owns a studio sized apartment in Saint Petersburg, a slightly larger apartment in Moscow, owns a small garage, a couple cars, a small plot of land outside of Moscow, and otherwise has various minor assets of no great worth.
Of course, over the years people can’t help but notice that Putin has a collection of watches he wears very publicly whose purchase price combined is around that of his reported entire net worth, ringing in at about $400,000-$700,000 if various reports are to be believed. For reference, the highest valued watch he has been spotted wearing costs around $140,000- a Patek Philippe Perpetual Calendar watch.
On top of that, the clothing he can often be seen wearing is likewise extremely expensive, such as his $6000+ tailored suits from outlets like Kiton and Brioni. Not just expensive suits, in one photo of him working out, Putin can be seen wearing sweatpants that cost over $1,400 a pair, apparently made from silk, cashmere and the tears of impoverished children, along with a similarly priced top.
Read up on what is known and what is rumored about Putin's wealth at Today I Found Out.
(Image credit: Presidential Press and Information Office)