Putin's alleged mistress possesses $100 million, according to the 'Pandora Papers.'
His secret girlfriend possesses considerable hidden fortune.
Despite her humble origins, Russian President Vladimir Putin's longtime mistress is estimated to have a net worth of $100 million in "shadow money," including luxurious homes and a yacht, according to a cache of recently released documents.
Svetlana Krivonogikh, 46, has been romantically linked to the Russian strongman since he was still the deputy mayor of her hometown of St. Petersburg, and the pair supposedly share a kid.
However, the Guardian revealed that Krivonogikh — who grew up in a communal apartment — and other Putin friends have benefited through shell firms in the Virgin Islands and abroad.
In September 2003, an offshore company called Brockville Development Limited acquired a magnificent fourth-floor condominium in Monte Carlo for her via two other Panamanian firms. According to the information, she has also acquired a flat in St. Petersburg and other expensive properties.
Krivonogikh is far from the only beneficiary of Putin's long-standing friendship.
For years, Russia's inner circle has migrated toward Monaco, where lax tax rules and regulations have transformed the coastal city into a haven for the wealthy.
“It has developed into Moscow-by-the-Sea. The mindset is one of display,” local attorney Dominique Anastasis told the Guardian. “No one inquires as to the source of your funds. There is no culture of verification. You do not file a tax return.”
Gennady Timchenko, a former Soviet official who has been friends with Putin since the 1990s, is one of the wealthiest members of the Russian-Monaco group.
Timchenko, a former oil dealer, was granted an oil export license by Putin in 1991 and later co-founded Gunvor, a Swiss oil export company, with the Russian president long rumored to be a silent partner.
Forbes estimated Timchenko's net worth at $22 billion.
Peter Kolbin, a longstanding family acquaintance, is another member of Putin's inner circle. He took over as director of Leningrad-based International Petroleum Products in 2003 despite having little qualifications for the position.
Putin has denied any connections to the profitable businesses revealed in the Pandora Papers.
However, according to the Guardian, imprisoned Russian opposition leader Alexei Navalny has referred to Putin as "the world's wealthiest man."