The Telegram founder reportedly earns just one dirham per year ($0.27), despite having a fortune worth up to $15.5 billion
The founder and CEO of Telegram, Pavel Durov, has told French investigators that he earns just one Emirati dirham, or $0.27, per year, Le Monde reported on Wednesday, adding that the disclosure had puzzled interrogators.
While the tech entrepreneur apparently pays himself almost nothing, Forbes estimates Durov’s fortune at $15.5 billion, making him the 122nd wealthiest person in the world. According to the Bloomberg Billionaires Index, which lists Durov in 306th place, his personal capital amounts to $9.07 billion.
Despite being a billionaire, Durov has quite ascetic habits, Le Monde reported, noting that his posts on social media have promoted a life without coffee, alcohol, meat, dairy products, and medication, as well as taking ice baths and meditating.
The disclosure about his annual paycheck was reportedly made in response to a question about Durov’s income while in police custody in Paris at the end of last month.
In 2017, Durov moved Telegram’s headquarters to Dubai. In an interview with Bloomberg at the time, the Russian entrepreneur, who later became a citizen of the UAE, France, and Saint Kitts and Nevis, said tax exemptions were behind his decision to relocate to the Middle East.
In a rare interview with the Financial Times last March, Durov, who is the sole owner of the popular Telegram messaging and social media service, said the Dubai-based company had been valued at more than $30 billion by potential investors. He ruled out selling the platform, but suggested he was exploring the possibility of a future initial public offering.
In August, Durov was detained in France and charged with multiple offenses ranging from refusal to cooperate with authorities, to administering an online platform allegedly used by criminals. The billionaire was later released on bail of €5 million ($5.55 million). He is prohibited from leaving the country while the case is ongoing.
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