The $51 billion figure actually comes from the Sochi Olympic Organizing Committee. The committee breakdown is as follows: Just over $6 billion was spent on new Olympic facility construction, transport and engineering; $2 billion will be spent on organizational costs for the Olympic and Paralympic Games. The remaining estimated $43 billion covers numerous regional development projects, including at least $7 billion for a new mountain railway and an extensive mountain road upgrade.
Regardless, Deripaska said it wasn't only government money, but a lot of private money as well.
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"You can't count private investment. It was not just state, big companies, big investors, big pocket, but it was a lot of middle-sized business, which were also involved in upgrading hotels and upgrading the restaurants and shops," he said. "Some taxi drivers bought new cars, it was a lot of private money also."
Deripaska also dismissed reports that he was pressured into making potentially money-losing investments in Olympics infrastructure, calling them "completely crap."
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Leading up to the games, many news outlets reported on sweetheart deals that went to friends of Russian President Vladimir Putin; some of those contracts required the purchase of supplies from people such as Putin's judo instructor.