Rumours that Vladimir Putin is on the brink of quitting as Russian president so he can start spending his £160billion fortune have surfaced.

The Russian leader is reportedly "tired" and reluctant to engage in a major election campaign again, so may pull out of next March's elections.

Putin has won three elections since first taking power in 2000, with a four year break when he had to stand aside in 2008.

Meanwhile, it seems the country is already looking to the future of Russia without Putin at the helm.

Gleb Pavlovsky, a former Kremlin advisor and head of the Effective Politics Foundation, told The Independent that the regime was entering a “terminal” phase.

Some believe his rumoured £160billion fortune makes him the richest man in the world (
Image:
TASS)

“Whichever way you play it, this campaign is about transitioning to a post-Putin Russia,” he said.

When he quits, he will unlock a £160billion fortune which some believe make him the richest man in the world.

His £28million superyacht Olympia is a gift from Chelsea boss Roman Abramovich, and he owns a Black Sea palace thought to be worth £800m, a £28m super yacht and is believed to be sitting on billions of pounds.

A dossier written by political opponent Boris Nemstov said he had access to up to 58 planes and helicopters, a watch collection worth $500,000 and 20 palaces and retreats.

The document also claims he he uses a private jet boasting a toilet worth £40,000, according to the Telegraph.

But he has not been able to splash the cash during his time as leader.

In 2000, Russian fund manager and author Bill Browder told CNN Putin was worth $200billion.

It seems the country is already looking to the future of Russia without Putin at the helm (
Image:
Reuters)
Is Putin really sitting on a £160billion fortune? (
Image:
TASS)

He said: "After 14 years in power of Russia, and the amount of money that the country has made, and the amount of money that hasn't been spent on schools and roads and hospitals and so on, all that money is in property, bank — Swiss bank accounts —shares, hedge funds, managed for Putin and his cronies."

But he has never appeared on the Forbes rich list, which excludes world leaders and dictators who "derive their fortunes as a result of their position of power".

Putin has denied sitting on a massive fortune, and in April 2015 claimed to have an income of just £95,000, made up from his presidential salary and the ownership of two flats and a car park.