Is President Putin significantly wealthier than Trump?
The after-tax net worth of US President Donald Trump is believed to be significantly lower than the rumored wealth of his Russian counterpart, Vladimir Putin.
According to Bloomberg and Forbes, while Russian President Putin is said to have amassed his fortune by investing in oil and natural gas, the US President claims he made his money the "old way," meaning through real estate investments.
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| The after-tax net worth of US President Donald Trump is believed to be significantly lower than the rumored wealth of his Russian counterpart, Vladimir Putin. |
However, there is a significant difference between the two leaders in terms of after-tax wealth. President Putin is rumored to have as much as $200 billion. This rumor originates from a former Russian fund manager, Bill Browder, and political analyst Stanslav Belkovsky.
Additionally, President Putin is rumored to own a mansion on the Black Sea coast worth up to $1 billion.
However, information regarding the Russian leader's assets remains unverified. In 2010, President Putin's spokesman Dmitry Peskov said that the Kremlin leader "had no connection whatsoever" with the residence.
In April 2015, President Putin stated that his annual income was only around $119,000, that he owned two apartments and co-owned a garage. Responding to claims that he was the richest man in Europe, Putin vehemently denied it: "That's complete rubbish."
While the head of state of the United States – who always prides himself on being wealthy – only has about $3 billion.
Last year, Mr. Trump claimed his net worth exceeded $10 billion. However, according to estimates from Forbes and Bloomberg, his actual net worth after taxes is much lower. Forbes estimated his net worth last year at only $3.7 billion, while Bloomberg put it at just $2.9 billion.
According to Bloomberg, Trump's total debt, primarily from bank loans, increased from $350 million in 2015 to $630 million in 2016.
As president, Trump would be paid $400,000 a year, plus $50,000 in additional fees. However, Trump claims he only receives $1 a year.
According to Vietnamnet.vn