An expensive yacht and a luxury apartment in Monte Carlo are just a couple of the assets bolstering the clandestine net worth of Russian President Vladimir Putin’s alleged mistress — despite her modest upbringing.
Svetlana Krivonogikh is worth an estimated $100 million in secret assets, documents from the Pandora Papers revealed.
Krivonogikh, 46, reportedly grew up in communal housing, where she had to share a bathroom and kitchen with five other families. She was allegedly in an affair with Putin when he was deputy mayor of St. Petersburg, according to reports from Russian news outlet Proekt. Putin was married at the time of the alleged affair, and the Kremlin has never commented on the relationship.
Brockville Developments Limited, an offshore firm, purchased a $4 million condo in Monaco in 2003 for Krivonogikh, according to documents in the Pandora Papers. Krivonogikh had a daughter the same year, who Proekt alleged was fathered by Putin, though Krivonogikh has never confirmed or denied the speculation.
Monaco has been a hot spot for the international elite due to its relaxed tax laws.
“It has become Moscow-on-Sea. The mentality is to show off,” Dominique Anastasis, a lawyer, told the Guardian. “Nobody asks where your money comes from. There’s no culture of checking. You don’t make a tax declaration.”
The Pandora Papers consist of almost 12 million leaked documents sorted by the International Consortium of Investigative Journalists — the files reveal hidden financial assets of over 100 billionaires from around the world, including politicians, business moguls, and even musicians Shakira and Elton John. The Pandora Papers show the elite using offshore firms and shell companies to dodge taxes and fees on real estate and luxury items, such as private yachts.
Other known members of Putin’s inner circle have also been revealed in the documents, though Putin was not mentioned directly.