Is Vladimir Putin Secretly the Richest Man in the World?

To ensure transparency and prevent corruption and conflicts of interest in government, numerous prominent countries worldwide have implemented a policy mandating that their highest-ranking officials publish annual reports detailing their recent income, tax returns, salary, and personal net worth. For instance, former President Barack Obama's tax return from the previous year revealed that he and Michelle earned a total of $608,611 in the calendar year 2012 (his 2013 tax forms are expected to be released soon). The majority of their income originated from Barack's book royalties and the $400,000 presidential salary. Surprisingly, Russia also imposes a similar requirement on its leaders, including the current President, Vladimir Putin. Last April, Putin disclosed both his salary and estimated net worth. However, there were discrepancies that raised concerns. Putin's disclosure portrayed the controversial leader as an unassuming individual with minimal income and assets, which seemed questionable and contradictory to public perception.

Hundreds of reporters parsed through 11.5 million documents for a year, finally publishing their findings from the massive data leak that has been dubbed the Panama Papers last weekend. Some of the figures named in the leak of documents from the Panamanian law firm Mossack Fonseca include celebrities and politicians, from Ukraine’s president to Iceland’s prime minister. The latter resigned in the wake of the leak, which has sparked worldwide outrage about the use of offshore banking by the rich and powerful.