Russian President Vladimir Putin claims he has earned less than $1 million during the past six years as president, according to financial documents published Tuesday by Russia's election authority.
The documents from the Central Election Commission (CEC) show Putin reported making 67.6 million rubles, which is approximately $753,000, between 2018 and 2024. Along with his salary as president, this figure includes income from bank deposits, a military pension and money made from property sales.
By contrast, the president of the United States has an annual salary of $400,000.
The public release of the CEC documents comes as Russia closes in on its March presidential election. Putin has served as Russia's president from 2000 to 2008 and since 2012, with a stint as prime minster in between being the executive head of state. He is widely expected to win his sixth term in March, though Western observers have accused Russia of rigging election results.
According to information Putin provided to the CEC, he has savings of 54.5 million rubles ($606,000) spread across 10 different bank accounts and owns a few automobiles. These vehicles are listed as two vintage Soviet Unions cars—GAZ M-21s—manufactured in the 1960s, a Russian-made 4X4 from 2009 and a 1987 camping trailer.
The documents also show Putin owns an apartment and garage in St. Petersburg, as well as an apartment in Moscow. Not listed are other properties believed to belong to Putin, such as a summer house in Sochi, a home on the Black Sea coast dubbed "Putin's Palace" and a recently documented luxurious estate on a bay near Russia's border with Finland.
Newsweek reached out to the Kremlin via email on Tuesday for comment.
On the same day the CEC released Putin's financial documents, his 2024 candidacy was given a boost by two of his opponents withdrawing from the race.
Russian All-People's Union party candidate Sergei Baburin ended his run and endorsed Putin, citing a need for the Russian people to become more united.
"Now is not the time to divide the people's strength in this difficult hour for the motherland," Baburin told reporters, according to The Moscow Times.
The Democratic Party of Russia also announced its candidate Irina Sviridova had failed to collect the 100,000 signatures of endorsement required to qualify for the March ballot. Party chairman Alexander Zorin said it will now back Putin.
A number of other presidential hopefuls remain in the race, including Boris Nadezhdin, a critic of the war in Ukraine who garnered international headlines this month when thousands of Russian lined up to sign for his endorsement. Reuters reported Nadezhdin is expected to formally submit his candidacy documents by Wednesday.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
Jon Jackson is an Associate Editor at Newsweek based in New York. His focus is on reporting on the Ukraine ... Read more
