As of: January 20, 2024, 8:05 a.m
By: Lisa Mahnke
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Maria Vorontsova, daughter of President Putin, earns millions.
The Navalny group uncovers dubious sources of money.
That's behind the allegations.
Moscow - Russian President Vladimir Putin's eldest daughter, Maria Vorontsova, is said to earn hundreds of millions a year from shares in her company "Nomeco".
This was reported in investigative research by Alexei Navalny's team published on YouTube.
She is an endocrinological doctor and an entrepreneur at the same time - not uncommon in Russia.
However, their earnings are considerable, especially when compared to the average income of Russian doctors.
Vorontsova is a qualified endocrinologist and still receives a salary from her job.
According to the research team, it comes primarily from state sources: she receives the 200,000 rubles (€2,087) income per month through work at Moscow State University, through the Russian Association of Endocrinologists and through the National Research Center for Endocrinology of the Ministry of Health.
Vorontsova is considered Putin's advisor on genetic engineering.
Corporate purpose unclear - Nomeco is still Vorontsova's main source of income
The salary from endocrinology is around four times the average income of a Russian doctor, according to the Navalny group.
However, Nomeco, a company she founded in 2019 and where she is still active on the board, represents Putin's daughter's main income.
The company's website explains its focus on innovative medical technologies, but does not provide further details.
“It is strange that such large projects are carried out by only five employees,” the Navalny group explained in its YouTube video, expressing skepticism about the company's actual activities: the company's news on the website consists mainly of congratulatory messages on various holidays.
High dividends for Putin's daughter: Company quickly makes high profits
While entrepreneurship is not uncommon for Russian doctors, according to Navalny's group, the company's quick profits raise questions.
Despite the small number of employees, Nomeco is making millions in net profit just one year after its founding: 600 million rubles (€6.2 million) in 2020, 810 million rubles (€8.45 million) in 2021 and 855 million rubles (€8.9 million) in 2022. “You should have been named Entrepreneur of the Year indisputably,” quipped the research team’s video presenter.
Entrepreneurship among doctors is normal in Russia.
However, Nomeco's corporate structure raises questions.
© IMAGO/Alexei Danichev
In 2020, Vorontsova received 232 million rubles in dividends, which is approximately 2.4 million euros.
In addition, the Nomeco board member earned 700,000 rubles (€7,307) per month.
Since no further data was available, the Navalny group extrapolated the data from 2020 for the following years: Putin's daughter must have received a total of 910 million rubles in dividends and 33 million rubles in income in 2021 and 2022 using the same calculation.
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The authors of the investigative research stated that Nomeco received the money from the Sogaz clinic.
This transferred Nomeco a total of 1.5 billion rubles in 2021 and 2022 for certain “services related to information modeling for project implementation.” The clinic was bought by top managers of Nomeco in August 2022.
In 2021,
Radio Free Europe/Radio Liberty
stated that some Putin supporters were treated there.
These included Valentina Matvienko, speaker of the Russian Federation Council, Gazprombank Vice President Sergey Fursenko and Yury Kovalschuk, a close confidant of Putin and co-owner of the Sogaz insurance group.
After the start of the Ukraine War, mercenaries from the Wagner Group were also treated by the clinic.
(LisMah)