President Vladimir Putinís inner circle is estimated to have amassed almost $24 billion away from the public eye, a report by an investigative journalism group and an independent newspaper has revealed.

Putinís private wealth has previously been estimated to be as high as $200 billion.

Members of Putinís inner circle were implicated in a $2 billion money laundering scheme in a large-scale 2016 leak known as the Panama Papers.

The Panama Papers identified musician and Putinís childhood friend Sergei Roldugin as the owner of offshore companies that the presidentís inner circle used to channel the $2 billion to Russia.

The Organized Crime and Corruption Reporting Project published findings with the independent newspaper Novaya Gazeta on Tuesday that estimate Putinís family and friends are worth almost $24 billion.

Putinís inner circle, which has amassed the $24 billion, does not include state company executives or politicians.

The investigation singles out Roldugin and two other figures in Putinís cohort as likely proxies with vast assets who cannot account for their wealth. They are not involved in politics, big business, donít hold lucrative jobs or live a wealthy lifestyle.

ďBut, somehow, theyíve come to hold enormous assets worth hundreds of millions of dollars ó though sometimes they can hardly recall the names of the companies they own,Ē the OCCRP says.

One of Putinís proxies worth $573 million based on publicly available figures is identified as Mikhail Shelomov, 49, the son of the presidentís cousin. His official salary at a state oil firm is $700 per month, according to the investigation.

The second member of Putinís inner circle is a former butcher and another childhood friend Pyotr Kolbin, with an estimated net worth of $550 million.

In 2012 comments to a Russian newspaper that uncovered him as a stakeholder in an energy company rumored to be the source of Putinís private wealth, Kolbin denied that he was a businessman.

The investigation quotes an unnamed ex-KGB officer as saying that Putin ďwill never leave any traceĒ of his vast assets.

ďWhy should [he], if there are trusted people from the inner circle or some distant relatives who can keep all the assets?"
Investigation Reveals Putin's Inner Circle Has Amassed $24 Bln Fortune

Nobody knows just how rich he personally is. From all his shady dealings with the mafia in St. Petersburg in the 90s, I believe he would have been a dollar multi-millionaire already, when he took power in 1999-2000.

Today... Definitely one of the richest people in the world


I heard he hides much of it in gold

Who knows...


"Hey Vlad, did you know just how rich I am? Check out my mansion in Florida!"



"That's real cute, Donnie..."