Russian leader Vladimir Putin has coughed up £200 million for a plush new palace, according to reports.

The Kremlin chief is believed to have added to his whopping £1bn property portfolio with a lavish mansion in a so-called "billionaire’s village".

It comes amid reports that Putin has secretly shot up the list of the richest men in the world.

The controversial president is said to be worth a staggering £160bn - making him 60 times richer than Donald Trump.

Putin has previously talked down his personal fortunes, claiming he takes home a modest state salary of about £100,000.

But the hardman Moscow boss has amassed a huge bank balance, boasting a fleet of yachts, cars and presidential palaces.

One critic claims that Putin has four mega yachts secretly floating off Russian shores.

His spanking new £200 million palace on the outskirts of Moscow is surrounded by secrecy, according to local reports.

The lavish pad is a mammoth 123,785 square feet, nearly double the size of Buckingham Palace, The Sun reported.

It was once owned by a company Property-V during construction, with local papers suggesting the V could be for Vladimir.

The palace has multiple helicopter landing pads and even a vineyard.

This sprawling estate also includes 21,528 square foot stables, The Mirror reported.

Reports claim the imposing building is owned by the Russian Federation, which local media claims is a "cover" used by "owners of palaces and penthouses associated with the country's leadership".

Russian newspaper Sobesednik suggested the property is either Putin’s or belongs to someone exceptionally close to him.

So far there has been no response from Putin’s spokesman to the Sobesednik claims, the latest in a series of "revelations" on his wealth, health and private life in recent weeks.

The palace is at Greenfield village, which is said to offer "a new standard of country life" with an "impeccable style of elite suburban life and the independence of serene nature," according to listings.

Before the palace’s construction was complete the village was said to house the most expensive house in Russia, previously owned by Jordanian billionaire Ziyad Manasir.

Andrey Ertman, a representative of the company which was constructing the palace, refused to name the owner "hiding under the pseudonym 'Russian Federation'", said the newspaper.

"This is confidential information. Buyers of such assets do not always strive for publicity. This is their right," he explained.