How Much Does The Russian President Make In A Year?
According to the BBC, Vladimir Putin is the "longest-serving Kremlin leader" since Joseph Stalin. The former KGB officer was appointed Prime Minister in 1999 and became president in 2000 (via Biography). Putin would hold the position until 2008 as Russia's constitution forbade him from running for a third term. Instead, he was slyly appointed prime minister, again. He would later reform the constitution to potentially allow him to stay in power well beyond 2030. Although CNBC reports that Putin's Russia has economically prospered, it has undoubtedly come with a heavy price.
Many believe he has "eroded" democracy and in turn, violated several human rights. Despite being one of the planet's most recognized leaders, Putin remains a mysterious figure. His net worth and the source of his wealth have continued to be questioned. Per The Washington Post estimates range from $70 to $200 billion. If these figures are correct, Putin could be considered one of the world's wealthiest men. One thing, however, remains certain. Putin did not amass his fortune from being the president of Russia.
Vladimir Putin's salary has continued to increase
In 2020, Statista reported that Vladimir Putin's annual salary as Russia's president was nearly 10 million rubles, or more than $129,000. This was an increase from 2018 and 2019. Between 2012-2016, Putin's salary went from nearly 6 million rubles (more than $77,000) to almost 9 million rubles or roughly $116,000.
However, in 2017, Putin's salary skyrocketed. Euronews writes that he made 18.7 million rubles, or nearly $242,000. This unusually high salary was attributed to Putin selling off a plot of land he owned, but that doesn't account for his rumored billion, nor does a financial report released by the Kremlin stated that he officially had only a few assets to his name.
As Radio Free Europe explains, his "personal wealth" goes "beyond his official salary." According to Forbes, it is unknown exactly how Putin has made his rumored billions. It's theorized he took a piece of Mikhail Khodorkovsky's fortune, a Russian billionaire who Putin jailed for fraud and tax evasion. Others think he gets "kickbacks" from awarding his inner circle with contracts and businesses. Of course, there's also the belief that he does not have money and has simply created the illusion of it. Wealthy or not, Putin continues to be Russia's leader, a nation that the U.S. News & World Report considers as the third most powerful country in the world.