Bashar al-Assad And Family Take Their $2bn Fortune To Moscow Where Family Owns ‘$40m Portfolio Of Flats

The Assad family, led by Syrian dictator Bashar al-Assad, has left behind their luxurious palaces in Syria and relocated to Russia after being granted asylum by President Vladimir Putin. The move marks a dramatic shift for the family, known for their wealth and oppressive rule over Syria for over six decades.

Asma al-Assad, a London-born doctor’s daughter who married Bashar al-Assad, has enjoyed a life of extraordinary luxury during her husband’s reign. Reports indicate that she spent hundreds of thousands of dollars on personal furnishings and designer clothing. The family’s estimated net worth is $2 billion, hidden across a complex network of offshore tax havens, shell companies, and real estate holdings. They are now expected to leverage their extensive resources in Moscow to maintain their lavish lifestyle in exile.

Assad Family’s Moscow Investments

The Assad family’s connections to Russia are well established, with the extended family owning at least 20 apartments in Moscow, valued at over £30 million. This acquisition underscores Russia’s role as a safe haven for the family, offering them security and continued wealth. Reports suggest that the family’s fortune was largely shielded from the turmoil in Syria, with many assets transferred to Russia during the country’s ongoing civil war.

The Kremlin confirmed that the Assad family had been granted asylum following direct orders from President Putin. Presidential spokesperson Dmitry Peskov declined to comment on the whereabouts of the Assads, stating, “We have nothing to say about Assad’s whereabouts.”

The family is believed to have arrived in Moscow several days before Bashar al-Assad fled Syria. Reports indicate that Mrs. Assad, who is battling an aggressive form of leukemia, may have arrived with her daughter and two sons before her husband’s departure. There are also speculations that Assad could have left Syria via Russia’s Khmeimim airbase, with flight trackers showing a Russian plane departing near Latakia just hours before his reported arrival in Moscow.

End of Bashar al-Assad Rule in Syria

The collapse of the Assad regime came swiftly as rebel groups launched a successful offensive on the Syrian capital, Damascus, on Sunday. This marked the end of a brutal 13-year civil war and the Assad family’s autocratic rule. The loss has been an embarrassment for Russia, which has provided military and financial support to the Assad regime for years, even conducting bombing campaigns to prop up his government.

The Assad family, including sons Hafez (24) and Karim (21), and daughter Zein (22), are now expected to settle in Moscow. While their exact living arrangements remain unclear, they are likely to expect a life of luxury, consistent with their previous lifestyle. It remains to be seen whether they will live in private accommodations or be housed in a government safehouse.

Bashar al-Assad Wife Asma Assad’s Lavish Spending Revealed

In 2012, Wikileaks exposed Asma al-Assad’s private correspondence, revealing her extravagant spending. She reportedly spent $350,000 on palace furnishings and $7,000 on crystal-encrusted shoes. The family’s wealth also extends to the Makhlouf family, Assad’s extended relatives, who have significant assets in Russia.

To safeguard their assets during Syria’s civil war, the Assad family, along with their relatives, purchased at least 18 luxury apartments in the City of Capitals complex in Moscow. This high-end building, located in Moscow’s skyscraper district, has become home to some of Russia’s wealthiest individuals and multinational companies.

The two-towered skyscraper was once Europe’s tallest building until London’s Shard was completed in 2012. The luxury apartments offer panoramic views of Moscow and are outfitted with high-end furnishings. It is believed that the Assad family may settle in one of these apartments as they begin their new life in Russia.

Ties to Russia Strengthened

The Assad family has strong personal ties to Moscow. Bashar al-Assad’s eldest son, Hafez al-Assad, is currently a PhD candidate at Moscow State University (MSU). He recently defended his dissertation in physical and mathematical sciences, which was published in Russian. The defense took place on November 29, coinciding with the rebel offensive in Aleppo.

Hafez al-Assad’s dissertation focuses on analytical and algebraic number theory, specifically issues related to polynomials. In his acknowledgements, he thanked his parents, Bashar and Asma, as well as university staff and teachers from Syria.

Also Read: Do You Know Asma al-Assad, Syria’s Fallen First Lady Bought $7,000 Crystal Shoes When Country Was Starving