Cost Of Sochi Games Estimated At 50-Billion Dollars

(Undated) -- The cost to put on the Winter Olympics in Russia is going to be at least 50-billion dollars and could be even more. Russian officials say they have spared no expense to build state of the art facilities and infrastructure for the Sochi Games, though critics say up to a third of the money spent may have gone to bribes, theft and waste. In 2007, Russian President Vladimir Putin estimated his country would spend no more than 12-billion dollars total on the Games. Now, the operating budget for the 17 days of competition will be about two-point-two-billion dollars by itself.
The 2008 Summer Olympics in Beijing are thought to be the most expensive to date, at a cost of somewhere around 40-billion dollars.