12 Property Maintenance
President Putin has a lot of secrets that have shocked the public. Aside from his secret hideaway in France, he has another secret hideaway and this time, it is a palace. The French hideaway was difficult to confirm but this secret palace is not. According to BBC and Time, President Putin owns a secret palace on the Black Sea that is believed to be worth $1 billion. Perhaps, President Putin believes that he is a “king” and he needs a palace. As per the photos and reports, the secret palace on the Black Sea resembles vintage Russian architecture with a private theater, a landing pad for President Putin’s helicopter, and accommodations for security guards.
President Putin built the Black Sea secret palace for his personal needs. However, reports have been surfacing that it was paid using the state funds. Another speculation stated that there is a “secret slush fund” that was funded and created by some group of Russian oligarchs.
13 Fortune In The Oil Industry
The Russian president may be denying his connections with Gunvor, but he can’t deny that he is indeed a part of the oil and natural gas industry. In fact, it is a large source of income for him. Reports stated that President Putin holds and controls 37 percent of the Russian oil and gas company, Surgutneftegas. More than that, he also has a 4.5 percent control over another Russian company, Gazprom, which extracts, produces, transports, distributes, and sells natural gas.
Gazprom does not just serve Russia. They also supply most of the gas in Europe, which is a big source of income. This company is what bought extreme fortune to President Putin. There are other speculations that President Putin owns small stakes in Lukoil, Rosneft, and the pipeline monopoly, Transnef.
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