By Tyler Durden
Authored by James Durso via TheHill.com,
Amazon founder Jeff Bezos is the one of the world’s richest men, and he may become the first trillionaire. But some think Russian President Vladimir Putin’s alleged $200 billion fortune surpasses Bezos’ paltry $90 billion. Who is really #1?
It depends how you count.
First, the numbers are dodgy.
Putin critic Bill Browder, once Russia’s largest foreign investor, says Putin has a $200 billion fortune (compared to Russia’s $1.6 trillion GDP). Browder was ejected from Russia in 2005 after being designated a “threat to national security” and said of his activism, “I was not going after his [Putin’s] enemies, I was going after his [Putin’s] own financial interests.”
He hasn’t produced any proof of the $200 billion other than his “belief,” but his humiliating ejection from Russia and the death in prison of his lawyer, Sergei Magnitsky, might be related.
Second, no one manages $200 billion by themselves. If Putin “had” $200 billion he would demand it be managed well, and that means managed as a portfolio. A portfolio similar in size to Putin’s is Warren Buffet’s Berkshire Hathaway with a total equity of $283 billion. What do you do with $283 …read more