For years, Bashar al-Assad and his family carefully cultivated an image of the Syrian leader as a modest, austere figure.
The trained ophthalmologist exuded none of the opulent excesses of other Arab dictators like Muammar Gaddafi or Saddam Hussein.
His image was part of an elaborate public relations campaign designed to distance Assad from accusations of corruption and elitism, even as his regime engaged in brutal repression against its people.
But following his fall on 8 December, that carefully crafted image has collapsed, and the true extent of Assad’s wealth has come to light, painting a far different picture of Syria's former president.
Luxury cars and high-end labels
When Assad and his family fled Damascus in the face of a major rebel advance led by Hayat Tahrir al-Sham (HTS), the collapse of his 51-year rule became undeniable.
As the family sought refuge in Russia, attention turned to what they left behind.
Images from the president’s now-empty palaces revealed the stunning disparity between Assad’s projected modesty and the lavish reality of his personal wealth.
Rooms once adorned with gold-leafed walls and expensive furnishings were looted, with footage showing people carrying red carpets and luxury goods, including a Dior bag.
The spoils left behind were not just material possessions, but also a staggering collection of assets hidden across the globe.
Among these were a collection of high-end luxury cars including a rare Ferrari F50, Lamborghini Diablo, and Rolls-Royce, as well as vast properties and a sprawling network of businesses spanning the Middle East and beyond.
Investigations revealed that Assad’s family likely controls around $16 billion in assets, including 200 tons of gold and billions of euros. This is a sum equivalent to Syria’s national budget for nearly seven years, based on 2023 figures.
Other reports suggest that the Assad family’s net worth could be as high as $2 billion, although this figure is difficult to verify due to the complex financial structures they maintain.
A 'complex system' to avoid sanctions
A 2022 report by the US Department of State noted that Assad's regime runs "a complex patronage system" of shell companies, real estate holdings, and offshore accounts designed to conceal their wealth and avoid sanctions.
Many of these assets are believed to be hidden in Europe, with a significant portion tied to luxury properties in London, Moscow, and Dubai.
A 2016 investigation by °®Âþµº based on the Panama Papers revealed that Assad's family used offshore companies to evade international sanctions.
In one instance, Assad's wife, Asma, was found to have placed orders for thousands of pounds worth of luxury goods, including designer jewellery, while millions of Syrians faced starvation under the regime's brutal siege tactics.
The Assad family's financial empire also extends into key sectors such as telecommunications, real estate, oil, and banking, controlling an estimated £45-95 billion in assets, according to the Syria Observatory for Human Rights.