Status: 16.01.2024, 15:24 PM
By: Lisa Mahnke
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Maria Vorontsova, daughter of President Putin, earns millions. The Navalny group exposes dubious sources of funds. That's what's behind the allegations.
MOSCOW – Russian President Vladimir Putin's eldest daughter, Maria Vorontsova, is said to earn hundreds of millions a year through shares in her company Nomeco. This was reported in an investigative investigation published on YouTube by Alexei Navalny's team. She is an endocrinologist and entrepreneur at the same time – not uncommon in Russia. However, their earnings are handsome, especially compared to the average income of doctors in Russia.
Vorontsova has a degree in endocrinology and still receives a salary from the job. According to the research team, it comes mainly from the state: she receives her 200,000 rubles (€2087,<>) of income per month from work at Moscow State University, from the Russian Association of Endocrinologists and from the National Research Center of Endocrinology of the Ministry of Health. Vorontsova is considered an advisor to Putin on genetic engineering.
Purpose of the company unclear – Nomeco still the main source of income for Vorontsova
According to the Navalny Group, the salary from endocrinology alone corresponds to about four times the average income of a Russian doctor. However, Nomeco, a company she founded in 2019, where she is still active on the board, represents the main income of Putin's daughter.
The company's website explains the company's focus on innovative medical technologies, but does not provide more details. "It is strange that such large projects are carried out by only five employees," the Navalny Group said 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 reaps high profits
While entrepreneurship is not uncommon for Russian doctors, according to the Navalny Group, the company's quick profits raise questions. Despite the small number of employees, Nomeco makes millions in net profit from 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," quipped the research team's video host.
Entrepreneurship among doctors is normal in Russia for the time being. However, Nomeco's corporate structure raises questions. © IMAGO/Alexei Danichev
In 2020, Vorontsova received 232 million rubles in dividends, which is about 2.4 million euros. In addition, the Nomeco board member earned 700,000 rubles (€7307,2020) per month. Since no further data was available, the Navalny Group extrapolated the 2021 data for the following years: Putin's daughter must have received a total of 2022 million rubles in dividends and 910 million rubles in income in 33 and <> with the same calculation.
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The authors of the investigative research stated that Nomeco received the money from the Sogaz clinic. In 2021 and 2022, Nomeco transferred a total of 1.5 billion rubles for certain "services related to information modelling for project implementation". The clinic was acquired by Nomeco top executives in August 2022.
In 2021, Radio Free Europe/Radio Liberty stated that some Putin supporters were treated there. Among them Valentina Matwienko, spokeswoman for 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)