Inside the mystery of Putin's lavish Black Sea palace amid ownership claims
An impressive residence near the Black Sea in Russia said to be built for Vladimir Putin, has undergone renovations, as disclosed by the Anti-Corruption Foundation (FBK) led by Alexei Navalny.
In January 2021, FBK released a documentary entitled "A Palace for Putin: The History of the Biggest Bribe," revealing that Vladimir Putin reportedly owns the luxurious estate near Gelendzhik, initially linked to businessman Alexander Ponomarenko. FBK estimates the property’s value at 100 billion rubles (approximately $1.3 billion).
However, according to meduza.io, the renovation was completed between February and March 2023, and the estate does not function as a hotel. Rumors persist about Putin being the real owner.
The construction documents reviewed by journalists suggest minimal changes to the initial design, with the mere renaming of rooms - bedrooms to apartments, the music and reading room to a lobby, and the dining room to a restaurant. The unseen footage reveals lavish amenities such as the president’s pool, spa facilities, a gym, and a theatre.
Further examination exposed significant alterations to the decor, with historical battle scenes and maritime-themed artworks now adorning the walls. A former gaming room has been transformed into a chapel, described as somber with its marble flooring and decorative metal panels.
FBK alleges that state enterprises covertly fund the palace's maintenance for non-existent services. This points towards a scheme involving firms led by Putin's associate, Nikolai Tokarev, funneling around 660 million rubles (about $8.7 million) yearly into the palace.
