EXCLUSIVE: Three theories on how Putin makes his millions
Russian President Vladimir Putin's personal fortune is a mystery. But there are theories as to how he may have accumulated it.As U.S. President Joe Biden considers sanctions on the personal wealth of Russian President Vladimir Putin, critical questions emerge: How big is that fortune, and how did Putin, a lifelong public official, accumulate it?has grappled with for 20 years.
There was little doubt that Putin was behind his arrest, the freezing of his fortune and the eventual breakup of his company. Khodorkovsky’s fate was a powerful lesson to other Russian oligarchs. Yet the question remains: How much of Khodorkovsky’s fortune did Putin take for himself? “The deal was, ‘You give me 50% of your wealth and I’ll let you keep the other 50%,’” says Browder. “If you don’t, he’ll take 100% of your wealth and throw you in jail.”
According to Swedish economist Anders Aslund, the author of the 2019 book “Russia’s Crony Capitalism,” Putin has recruited family, childhood friends, bodyguards and others to hold his money. He estimates that each person has between $500 million and $2 billion and that his net worth is anywhere between $100 billion and $130 billion.
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