# What can Putin use all this money for?
**URL:** https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238
**Category:** Factual Questions
**Created:** [June 1, 2018, 3:18am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238 "2018-06-01T03:18:27Z")
**Posts on this page:** 20
**Page:** 1
### Author:  [@Cardinal](https://boards.straightdope.com/u/Cardinal)
#### Post date: [June 1, 2018, 3:18am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/1 "2018-06-01T03:18:27Z")
If Putin is possibly the richest person in the world, through all sorts of bribes and payouts based on threats, how can he use it? He has to show the life of “only” the president, right? He can’t pull up in a 60 foot yacht and claim he’s really good at couponing. Does he buy things in friends’ names, and just “borrow” them repeatedly? Is it just a scorecard for his power?
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### Author:  [@dolphinboy](https://boards.straightdope.com/u/dolphinboy)
#### Post date: [June 1, 2018, 3:33am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/2 "2018-06-01T03:33:11Z")
Why can’t he pull up in a 60 foot yacht and say it’s his? I don’t think he really cares what people might think about where his money comes from. It’s not like he is going to be kicked out of office. Remember that he controls the media.
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### Author:  [@Aspidistra](https://boards.straightdope.com/u/Aspidistra)
#### Post date: [June 1, 2018, 3:44am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/3 "2018-06-01T03:44:14Z")
Well, he can buy politicians in other countries and get them to make decisions he likes.
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### Author:  [@Cardinal](https://boards.straightdope.com/u/Cardinal)
#### Post date: [June 1, 2018, 3:56am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/4 "2018-06-01T03:56:57Z")
Ok, let’s say he bribes other politicians. This is to make more money that he can’t spend? He does it just out of the “goodness” of his heart for the betterment of Mother Russia?
And I think he does have to keep public opinion on his side. He has built quite the reputation as a “real man” who wrestles, and is quite patriotic. He can have people killed without getting personally involved, and pretend that there’s nothing to talk about, but I’m betting he’s afraid to act like Berlusconi, or even Larry Ellison.
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### Author:  [@Wesley\_Clark](https://boards.straightdope.com/u/Wesley_Clark)
#### Post date: [June 1, 2018, 4:01am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/5 "2018-06-01T04:01:26Z")
Putin recently had a palace worth 1 billion dollars built. He doesn’t give a damn about his image if you are spending that kind of money on a palace. Supposedly he owns 4 yachts, not one.
Also he uses his money to keep his inner circle bribed and happy. So that is a nice perk of being rich, make sure the people who can overthrow you are content and driving nice cars.
One thing Putin does is make sure shell companies own his property, or he makes an oligarch give him something expensive ‘as a gift’.
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### Author:  [@Lamoral](https://boards.straightdope.com/u/Lamoral)
#### Post date: [June 1, 2018, 4:07am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/6 "2018-06-01T04:07:16Z")
A 60-foot yacht is actually not very big.
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### Author:  [@Alley\_Dweller](https://boards.straightdope.com/u/Alley_Dweller)
#### Post date: [June 1, 2018, 4:11am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/7 "2018-06-01T04:11:51Z")
Power.
To many people, power is just as great a motivator as money.
And if you want power, you need money to get it.
And, yes, if you have enough power, the money comes flowing in. It’s a self-reinforcing feedback loop.
There is little chance that the oligarchs would be at his beck and call if there were no money in it for them.
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### Author:  [@Kedikat](https://boards.straightdope.com/u/Kedikat)
#### Post date: [June 1, 2018, 4:40am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/8 "2018-06-01T04:40:28Z")
I doubt that he is the richest man in the world.
But. He is very wealthy in powerful, rich friends as well as powerful rich enemies that he has power over. He is the type of man who uses that to further his goals and protect himself while he accomplishes them.
I read an article by a westerner who dealt with the Russian bureaucracy when Putin was just a cog in the machine. People who had to deal with a department that he was in, would seek him out. For his honesty, knowledge, efficiency. He did not take bribes.
No doubt at all, that his time with the FSB gave him a wealth of experience and information that he used to rise to the top. And continues to use to stay there.
Putin does not measure his own success in money. He has a much broader view of his goals for Russia and his legacy. I would describe him as a chess grand master. Incapable of throwing a game. But absolutely dedicated to winning. Winning the game is his reward.
Having said all that. He will always live a very comfortable life. As long as he continues to have an edge over his enemies. And the favor of his friends. I suspect that even when he is no longer President or Prime Minister. He may still be the most powerful person in Russia. But still far from the richest. Depending on how you measure wealth.
Many, if not almost all, of the richest persons in the world at any time. Will be forgotten. As their wealth was mostly in accruing dollars. Those who measure wealth in accomplishments, live on.
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### Author:  [@Kedikat](https://boards.straightdope.com/u/Kedikat)
#### Post date: [June 1, 2018, 4:47am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/9 "2018-06-01T04:47:56Z")
Yes. I am a fan of the man.
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### Author:  [@Measure\_for\_Measure](https://boards.straightdope.com/u/Measure_for_Measure)
#### Post date: [June 1, 2018, 4:51am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/10 "2018-06-01T04:51:02Z")
Money.
[Putin’s rumored yacht](https://www.superyachtfan.com/superyacht/superyacht_graceful.html)
[Putin’s Palace](https://en.wikipedia.org/wiki/Putin%27s_Palace), worth a cool $1 billion.
Remember that Putin can own worldly goods through proxies like [this guy](https://www.nytimes.com/2018/02/16/world/europe/prigozhin-russia-indictment-mueller.html).
Jailtime.
Putin is as corrupt as the day is long and would be promptly jailed in any legitimate democracy. Having $40 billion to throw around keeps the oligarchical and judiciary system in his pocket, which is the way he likes it.
One of many reports on Putin’s corruption:
> **[Has Vladimir Putin Always Been Corrupt? And Does it Matter?](https://www.wilsoncenter.org/event/has-vladimir-putin-always-been-corrupt-and-does-it-matter)**
>
> President Vladimir Putin was “the person to know in St. Petersburg,” according to Karen Dawisha, Walter E. Havighurst Professor of Political Science and Director, Havighurst Center for Russian and Post-Soviet Studies, Miami Universtiy, Oxford, Ohio,...
Another:
> **[FRONTLINE | Putin's Way | Season 2015 | Episode 2 | PBS](https://www.pbs.org/video/frontline-putins-way/)**
>
> FRONTLINE investigates the accusations surrounding Vladimir Putin's reign in Russia.
Profile:
> **[The Many Faces of Vladimir Putin | FRONTLINE](https://www.pbs.org/wgbh/frontline/article/the-many-faces-of-vladimir-putin/)**
>
> Why is the Russian leader so inscrutable? FRONTLINE takes a closer look at Putin’s public personas.
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### Author:  [@Measure\_for\_Measure](https://boards.straightdope.com/u/Measure_for_Measure)
#### Post date: [June 1, 2018, 5:05am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/11 "2018-06-01T05:05:21Z")
Let’s not forget that Putin can also do favors for his family. [This article](https://www.mercurynews.com/2018/02/27/report-putins-family-laundered-money-through-estonian-bank/) documents 2013 money laundering with the Estonian branch of a Danish bank.
Criminals launder money when they want to convert funds gained illegally into funds that can be spent or invested in legitimate businesses.
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### Author:  [@Man\_About\_Town](https://boards.straightdope.com/u/Man_About_Town)
#### Post date: [June 1, 2018, 7:15am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/12 "2018-06-01T07:15:22Z")
> [@](#):
>
> Money.
>
> Putin’s rumored yacht
>
> Putin’s Palace, worth a cool $1 billion.
How can we be sure those are Putin’s palace and yacht and not random photos from the Internet?
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### Author:  [@Measure\_for\_Measure](https://boards.straightdope.com/u/Measure_for_Measure)
#### Post date: [June 1, 2018, 8:51am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/13 "2018-06-01T08:51:04Z")
Here’s a better link substantiating the yacht.
> **[Playboy lifestyle of a president: Putin's perks include 'palaces, planes,...](https://www.dailymail.co.uk/news/article-2195035/Vladimir-Putins-presidential-perks-include-palaces-planes-yachts-white-gold-watches-47k-toilet.html)**
>
> Russian President Vladimir Putin is spending billions of taxpayers' money on 20 luxurious residences, 43 jets and four yachts, a top opposition leader has claimed in a damnning report.
The wiki article about Putin’s palace is packed with citations, including the one above.
And here’s an analysis of Putin’s opulence by Money magazine:
[http://time.com/money/4641093/vladimir-putin-net-worth/](http://time.com/money/4641093/vladimir-putin-net-worth/)
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### Author:  [@glee](https://boards.straightdope.com/u/glee)
#### Post date: [June 1, 2018, 9:30am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/14 "2018-06-01T09:30:57Z")
> [@Kedikat](#):
>
> Putin does not measure his own success in money. He has a much broader view of his goals for Russia and his legacy. I would describe him as a chess grand master. Incapable of throwing a game. But absolutely dedicated to winning. Winning the game is his reward.
Incapable of throwing a game?!
Malaysia Airlines Flight 17 (MH17/MAS17)[a] was a scheduled passenger flight from Amsterdam to Kuala Lumpur that was shot down on 17 July 2014 while flying over eastern Ukraine, killing all 283 passengers and 15 crew on board
The Crimean peninsula was annexed from Ukraine by the Russian Federation in February–March 2014.
…the British government accused Russia of attempted murder and announced a series of punitive measures against Russia, including the expulsion of diplomats. The UK’s official assessment of the incident was supported by 28 other countries which responded similarly.
And if you want the views of a real grandmaster:
Garry Kasparov: Putin is ‘the most dangerous man’ in the world and a bigger threat to the U.S. than the Islamic State
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### Author:  [@Cardinal](https://boards.straightdope.com/u/Cardinal)
#### Post date: [June 1, 2018, 4:28pm UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/15 "2018-06-01T16:28:52Z")
OK, so my base assumption is flawed: he does own lavish things, and doesn’t hide them much. How then is he not seen as corrupt by the common voter? Are they fooled by the controlled tv, radio, and newspapers? Are there any independent journalism sources in Russia?
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### Author:  [@LateComer](https://boards.straightdope.com/u/LateComer)
#### Post date: [June 1, 2018, 5:11pm UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/16 "2018-06-01T17:11:20Z")
> [@Cardinal](#):
>
> OK, so my base assumption is flawed: he does own lavish things, and doesn’t hide them much. How then is he not seen as corrupt by the common voter? Are they fooled by the controlled tv, radio, and newspapers? Are there any independent journalism sources in Russia?
Many people in Russia would lose their jobs if they didn’t vote for Putin.
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### Author:  [@Little\_Nemo](https://boards.straightdope.com/u/Little_Nemo)
#### Post date: [June 1, 2018, 6:01pm UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/17 "2018-06-01T18:01:42Z")
> [@Cardinal](#):
>
> OK, so my base assumption is flawed: he does own lavish things, and doesn’t hide them much. How then is he not seen as corrupt by the common voter? Are they fooled by the controlled tv, radio, and newspapers? Are there any independent journalism sources in Russia?
It’s not seen as corruption because it’s an accepted practice. People see wealth as an outward sign of power. If the ruler isn’t wealthy, people would ask what’s wrong with him. If he’s so powerful, why isn’t he rich? If he can’t even look out for himself, how can he look out for the country? A middle-class lifestyle would be seen as a sign of political weakness.
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### Author:  [@Kedikat](https://boards.straightdope.com/u/Kedikat)
#### Post date: [June 2, 2018, 3:41am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/18 "2018-06-02T03:41:51Z")
> [@glee](#):
>
> Incapable of throwing a game?!
>
> Malaysia Airlines Flight 17 (MH17/MAS17)[a] was a scheduled passenger flight from Amsterdam to Kuala Lumpur that was shot down on 17 July 2014 while flying over eastern Ukraine, killing all 283 passengers and 15 crew on board
>
> The Crimean peninsula was annexed from Ukraine by the Russian Federation in February–March 2014.
>
> …the British government accused Russia of attempted murder and announced a series of punitive measures against Russia, including the expulsion of diplomats. The UK’s official assessment of the incident was supported by 28 other countries which responded similarly.
>
> And if you want the views of a real grandmaster:
>
> Garry Kasparov: Putin is ‘the most dangerous man’ in the world and a bigger threat to the U.S. than the Islamic State
The airliner was most likely downed by a Ukrainian operated BUK missle. If you want examples of massively corrupt and dangerous government folks, look at the current Ukraine.
People living in Crimea voted to rejoin Russia. Most of them are Russian. So they would not be a part of the current Ukraine mess.
The Skripal thing is so bogus. Full of holes. Logically and technically. Demonstrably false statements and assumptions galore. Now swept under the rug.
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### Author:  [@Kedikat](https://boards.straightdope.com/u/Kedikat)
#### Post date: [June 2, 2018, 3:56am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/19 "2018-06-02T03:56:18Z")
> [@Measure\_for\_Measure](#):
>
> Here’s a better link substantiating the yacht.
> [Vladimir Putin's presidential perks include 'palaces, planes, yachts, white gold watches, and a £47k toilet' | Daily Mail Online](http://www.dailymail.co.uk/news/article-2195035/Vladimir-Putins-presidential-perks-include-palaces-planes-yachts-white-gold-watches-47k-toilet.html)
>
> The wiki article about Putin’s palace is packed with citations, including the one above.
>
> And here’s an analysis of Putin’s opulence by Money magazine:
> [http://time.com/money/4641093/vladimir-putin-net-worth/](http://time.com/money/4641093/vladimir-putin-net-worth/)
I notice the terms, “has access to”, “has use of” throughout the article. Not “owns”
I am sure he has done very well for himself through so many years in power. But these lists of things he supposedly owns are very sketchy. He does have access to many places and things. As do many leaders of countries. Through the government or through the rich and powerful that seek the favor of leaders.
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### Author:  [@Measure\_for\_Measure](https://boards.straightdope.com/u/Measure_for_Measure)
#### Post date: [June 2, 2018, 4:32am UTC](https://boards.straightdope.com/t/what-can-putin-use-all-this-money-for/815238/20 "2018-06-02T04:32:54Z")
From the Guardian, 2007: Putin’s ownership is via a complicated set of shell companies. Not surprisingly. [INDENT][INDENT][INDENT] Citing sources inside the president’s administration, Belkovsky claims that after eight years in power Putin has secretly accumulated more than $40bn (£20bn). The sum would make him Russia’s - and Europe’s - richest man.
In an interview with the Guardian, Belkovsky repeated his claims that Putin owns vast holdings in three Russian oil and gas companies, concealed behind a “non-transparent network of offshore trusts”.
Putin “effectively” controls 37% of the shares of Surgutneftegaz, an oil exploration company and Russia’s third biggest oil producer, worth $20bn, he says. He also owns 4.5% of Gazprom, and “at least 75%” of Gunvor, a mysterious Swiss-based oil trader, founded by Gennady Timchenko, a friend of the president’s, Belkovsky alleges.
Asked how much Putin was worth, Belkovsky said: “At least $40bn. Maximum we cannot know. I suspect there are some businesses I know nothing about.” He added: "It may be more. It may be much more.
“Putin’s name doesn’t appear on any shareholders’ register, of course. There is a non-transparent scheme of successive ownership of offshore companies and funds. The final point is in Zug [in Switzerland] and Liechtenstein. Vladimir Putin should be the beneficiary owner.”
[Putin, the Kremlin power struggle and the $40bn fortune | World news | The Guardian](https://www.theguardian.com/world/2007/dec/21/russia.topstories3) [/INDENT][/INDENT][/INDENT] Legitimate public servants don’t amass tens of millions of dollars during their time in power. Never mind tens of billions. The $40 billion net worth figure has been confirmed by the CIA, as noted in the next link. Mechanisms for extracting such wealth from his early days are outlined in a 2015 PRI article: [Five corrupt moves that helped make Putin the most powerful man in Russia](https://www.pri.org/stories/2015-01-13/five-corrupt-moves-helped-make-putin-most-powerful-man-russia). It does not include discussion of the Sochi Olympics.
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