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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 rbc.ru 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.
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