Apparently the billion dollar palace that Vladimir Putin was having built was not really worth that much. Either that or Mr. Putin decided to take a huge loss for reasons best known to himself over the deal. What we do know for sure is that the 750,000 sq. meter palace situated on the shores of the Black sea has changed hands and is now owned by Alexander Ponomarenko through a Cyprus based company that he controls for a price of about 350 million dollars.
Ponomarenko however claims that the complex which he has indeed purchased has nothing to do with Putin – but he got it from Nikolai Shamalov (who just happens to be Putins closest friend). The reason they sold the complex was because they had run out of money to maintain the ‘holiday centre’.
However activists have previously taken videos showing police and federal agents guarding the site. We have posted a few photos of the palace, but it makes more sense to read the actual entry of the billion dollar palace. For starters, the palace features a casino, swimming pools, a gym and helipads to begin with.