The existence of the ‘Putin Palace’ was discussed last year by Washington Post. According to a Russian whistleblower, Sergey Kolesnikov, the palace was predominantly paid for with money donated by Russian businessmen for the use of Prime Minister Vladimir Putin.
The estate is still under-construction and costs more than $1 billion, include an amphitheater and three helipads ...
The property was formally owned and sold by a man named Nikolai Shamalov who happens to be a b.f.f. of Prime Minister Putin. It was acquired by Russian billionaire businessman Alexander Ponomarenko.
http://www.therichtimes.com/wordpress/2011/01/21/ruleaks-net-posts-photos-of-the-suspected-putin-palace-and-gets-hacked/
http://www.theotherrussia.org/2011/01/21/ruleaks-posts-pictures-of-putins-black-sea-palace/
http://ruleaks.net/1901
The home was sold for $350 million to Alexander Ponomarenko, a businessman with links to Putin who made his money by controlling the Black Sea port of Novorossiysk.
There is a MUCH clearer view from Bing aerial. You can see the 3 heliports and a number of outbuildings as well.