section_path: Personal life/Wealth
section_name: Wealth
paragraph_text: Wealth
  
  Official figures released during the legislative election of 2007 put Putin's wealth at approximately 3.7 million rubles (US$280,000) in bank accounts, a private 77.4-square-meter (833 sq ft) apartment in Saint Petersburg, and miscellaneous other assets. Putin's reported 2006 income totaled 2 million rubles (approximately $152,000). In 2012, Putin reported an income of 3.6 million rubles ($270,000). Putin has been photographed wearing a number of expensive wristwatches, collectively valued at $700,000, nearly six times his annual salary. Putin has been known on occasion to give watches valued at thousands of dollars as gifts, for example a watch identified as a Blancpain to a Siberian boy he met while on vacation in 2009, and another similar watch to a factory worker the same year.
  
  According to Russian opposition politicians and journalists, Putin secretly possesses a multi-billion-dollar fortune via successive ownership of stakes in a number of Russian companies. According to one editorial in The Washington Post, "Putin might not technically own these 43 aircraft, but, as the sole political power in Russia, he can act like they're his". An RIA Novosti journalist argued that " intelligence agencies... could not find anything". These contradictory claims were analyzed by Polygraph.info, which looked at a number of reports by Western (Anders Åslund estimate of $100–160 billion) and Russian (Stanislav Belkovsky estimated of $40 billion) analysts, CIA (estimate of $40 billion in 2007) as well as counterarguments of Russian media. Polygraph concluded:
  
  There is uncertainty on the precise sum of Putin's wealth, and the assessment by the Director of U.S. National Intelligence apparently is not yet complete. However, with the pile of evidence and documents in the Panama Papers and in the hands of independent investigators such as those cited by Dawisha, Polygraph.info finds that Danilov's claim that Western intelligence agencies have not been able to find evidence of Putin's wealth to be misleading
  
  In April 2016, 11 million documents belonging to Panamanian law firm Mossack Fonseca were leaked to the German newspaper Süddeutsche Zeitung and the Washington -based International Consortium of Investigative Journalists. The name of Putin does not appear in any of the records, and Putin denied his involvement with the company. However, various media have reported on three of Putin's associates on the list. According to the Panama Papers leak, close trusted associates of Putin own offshore companies worth US$2 billion in total. The German newspaper Süddeutsche Zeitung regards the possibility of Putin's family profiting from this money as plausible.
  
  According to the paper, the US$2 billion had been "secretly shuffled through banks and shadow companies linked to Putin's associates", such as construction billionaires Arkady and Boris Rotenberg, and Bank Rossiya, previously identified by the U.S. State Department as being treated by Putin as his personal bank account, had been central in facilitating this. It concludes that "Putin has shown he is willing to take aggressive steps to maintain secrecy and protect communal assets".
  
  A significant proportion of the money trail leads to Putin's best friend Sergei Roldugin. Although a musician, and in his own words, not a businessman, it appears he has accumulated assets valued at $100m, and possibly more. It has been suggested he was picked for the role because of his low profile. There have been speculations that Putin, in fact, owns the funds, and Roldugin just acted as a proxy. Garry Kasparov said that " controls enough money, probably more than any other individual in the history of human race".