Milo Djukanovic has been a controversially towering figure in Montenegrin politics for over 30 years. The longtime president and former prime minister has long faced accusations of corruption, organized crime ties, abuse of office, and amassing significant personal wealth. Though Milo Djukanovic reported net worth raises eyebrows, hard facts regarding Djukanovic’s assets remain elusive.
The Controversial Montenegrin President with Reported Millions
Milo Djukanovic Net Worth in Question
Milo Djukanovic’s net worth has been estimated at anywhere from $15 million to over $1 billion. However, Djukanovic has disputed such high figures and solid information on his assets is lacking. This led many to speculate about the sources of wealth for the Montenegrin leader and his family. Critics have pointed to potential illicit funds from the 1990s Balkan wars, cigarette smuggling, money laundering, or Russian oligarch investors.
Djukanovic himself has admitted to a net worth of around €5 million ($5.3 million) – a considerable yet significantly smaller sum than some media reports. Verifying his true assets is complicated by the lack of required financial disclosures for Montenegrin officials. Djukanovic also says his wealth comes from “private family businesses” started before entering politics in the early 1990s.
The Early Days
To understand Milo Djukanovic’s rise, one must go back to his origins. He was born in 1962 in Nikšić, Montenegro (then part of Yugoslavia). After graduating from the Veljko Vlahovć University Faculty of Economics, Djukanovic entered the world of Montenegrin politics in 1986 with a role in the Communist Youth Alliance. This kicked off a meteoric political career with positions of increasing power.
By 1991, 29-year-old Djukanovic had become the youngest-ever Prime Minister of Montenegro. He dominated the country’s politics for the next decade through leadership roles in the controversial Democratic Party of Socialists (DPS). Djukanovic originally aligned himself with Serbian leader Slobodan Milošević but later turned against him. He led Montenegro to an overwhelming vote for independence from Serbia in 2006.
Since independence, Djukanovic consolidated power to become Montenegro’s long-serving president from 2018 to 2023. He resigned in late 2022 amidst ongoing protests calling for his ouster. Even after resigning as president, Djukanoivc remains head of the ruling DPS party – indicating he likely still wields considerable influence and power.
The First Lady with Deep Roots
Milo Djukanovic married his wife Lidija in 1994. Lidija Djukanovic (nee Koljenšić) comes from an influential Montenegrin family with deep ties to the state. Her father is Peko Koljenšić, a former high-ranking Yugoslav intelligence official who later joined the DPS party Djukanovic leads.
Lidija’s brother Aco Koljenšić has risen to become a Supreme Court justice in Montenegro. Some claim this shows ongoing nepotism benefiting the Djukanovic and Koljenšić families. Lidija herself maintains a low public profile beyond accompanying Djukanovic at official functions. She avoids the spotlight, and little is known about her personal perspectives on her husband’s controversies.
Properties Fueling Suspicions
When it comes to hard assets linked to Milo Djukanovic, most attention goes to his real estate holdings. This includes an expansive villa on the Montenegrin coast that opponents portray as a symbol of Djukanovic’s lavish lifestyle and corruption.
The villa located near Pržno has been valued as high as €15 million ($16 million) and sees round-the-clock security details. Features include a tennis court, multiple swimming pools, decorative fruit trees, and sweeping Adriatic Sea views.
Djukanovic claims the villa and land were purchased legally through loans. Critics counter that his assets and lifestyle clearly indicate vast hidden wealth that his declared government salary could never afford. They argue such grand villas and property empires connect the dots to strong indications of illicit funds.
The Missing Paper Trail
Attempts to pin down proof of Milo Djukanovic misusing state funds for personal gain have encountered dead ends. Investigations into specific accusations like cigarette smuggling in the 1990s or Russian oligarch investments have stalled out. A lack of documentation, unwilling witnesses, and dead investigative reporters have buried promising leads.
In 2004, Dusko Jovanovic – an editor investigating Djukanovic’s alleged ties to cigarette and drug smuggling rings – was shot dead on a Podgorica street. While theories abounded, the murder went unsolved. Critics claimed this added suspicion that Djukanovic uses strongarm tactics to keep his dealings secret. But with the trail going cold, the distinct possibility remains that the public may never fully unravel the origins of Djukanovic’s assets.
Refusing to Fade Away
Even forced from Montenegro’s presidency, Milo Djukanovic remains stubbornly ingrained in wielding influence. The 2022 mass protests and calls for Djukanovic’s removal ultimately persuaded him to resign from the presidency in late December. Yet Djukanovic continues on leading the ruling DPS party he has dominated since the 1990s.
This means Djukanovic still holds sway as DPS chief with its parliamentary majority and control of the Montenegrin economy. Critics argue true change is impossible if Djukanovic hands pick the next president while he guides policy behind the scenes. Mass resignations from his party signal that support for Djukanovic is crumbling. However, his stranglehold persistence indicates Djukanovic is not going away quietly from power after 30 years in control.
