Since 2003, the rich owner of the West London club has won every trophy imaginable, turning it into a success story.
The Russian invasion of Ukraine has compelled Abramovich to part ways with one of his most valued belongings, namely the Chelsea Football Club.
What Is Roman Abramovich’s Name?
Russian oligarch Roman Abramovich is also a successful businessman and a billionaire with political experience.
From 2000 to 2008, he served as Governor of Russia’s farthest easterly province, Chukotka Autonomous Okrug.
Chelsea Football Club and Millhouse LLC, a private investment firm he founded, are both owned by him.
Abramovich was born on October 24, 1966, and lost both of his parents at an early age, so he was raised by relatives and spent much of his childhood in the Komi Republica, a region in northern Russia.
Irina Malandina, a former Russian Aeroflot hostess who was married to the 55-year-old for five years, and Zhukova, who divorced him in 2008, are his two ex-wives.
When the Soviet Union fell apart in 1989, Roman Abramovich pounced, buying Russian state-owned assets at bargain prices and reselling them for a profit.
Abramovich and fellow oligarch Boris Berezovsky bought Sibneft for £76 million in 1997.
In 2001, Abramovich paid a combined $1 billion for Berezovsky and another billionaire, Badri Patarkatsishvili, to acquire their holdings in Sibneft.
In 2011, a UK court rejected Berezovsky’s claim that he had been coerced into selling the shares at a price below market value in connection with this purchase.
Gazprom paid Abramovich $10 billion for 75.7 percent of Sibneft in 2005.
Roman Abramovich and Boris Berezovsky bought a major oil company.
How Much Money Does Russian Billionaire Roman Abramovich Have?
Approximately $14 Billion
In Terms of Wealth, How Much Is Roman Abramovich Worth?
Israeli-Russian tycoon Roman Abramovich is worth an estimated $14 billion. He’s a household name in Israel and Russia, but he’s best known as the previous owner of Chelsea F.C., an English Premier League football team, which he sold in 2012. When it comes to money, Abramovich has at times been Israel’s richest individual.
His net worth is estimated to be at $5.2 billion, making him Russia’s wealthiest individual and the world’s 113th richest. Before the 2008 financial crisis, reports suggested that Abramovich’s net worth was substantially more than previously reported. After the crisis, he lost billions.
He is a Russian millionaire who is known for his philanthropy. Abramovich is said to have given more than $2.5 billion of his money to Chukotka, a Russian federal subject he once controlled, over the years.
Abramovich has earned a reputation as something of a polarizing personality over the years. “Oligarchs,” as they’ve come to be known, are thought to have made their money by selling off Russian state-owned assets following their country’s demise.
Why Did He Do This?
Hansjorg Wyss, a potential bidder, believes the Russian businessman is selling Chelsea because the UK government could censure him.
“Abramovich is one of Vladimir Putin’s closest advisers and buddies,” the Swiss millionaire claimed.
The oligarchs are all in a state of terror, just like everyone else.”
For sale are all of Abramovich’s properties in England.” He wants to get rid of Chelsea as soon as possible as well.
On Tuesday, a proposal to purchase Chelsea from Roman Abramovich was made to myself and three other individuals.
If sanctions are enforced, Abramovich’s assets in the United Kingdom might be frozen and he could lose control of his West London business.
A statement from Abramovich was made on March 2 and read as follows: “In light of recent media speculation, I’d want to clarify that I do not own Chelsea FC.
“To reiterate what I’ve said before, I’ve always acted in the best interests of the Club when making decisions.
“My decision to sell the club is therefore based on my belief that this is in the greatest interest of all parties involved, including the club’s fans; employees; sponsors, and partners.
“However, the sale of the Club will not be rushed through. In the event that I need to borrow money, I won’t be asking for repayment.
“For me, this has always been about the game and the Club, not about making a buck.
“A charitable foundation will receive all net earnings from the sale of the product as well.
“Ukrainian war victims will benefit from a foundation established in their honor.
“This involves funding immediate and long-term healing efforts for victims, as well as providing essential monies for the current and immediate needs of victims.
“As you can imagine, leaving the Club in this fashion has been a difficult decision for me.
“In any case, I believe that this is in the best interest of the Club.
“I’m crossing my fingers that I’ll be able to make one last trip to Stamford Bridge to say farewell to everyone there.
“To be a part of Chelsea FC has been an honor of a lifetime and I am pleased of our accomplishments together.
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Abramovich was born on October 24, 1966, in Saratov, the Soviet Union, to Roman Arkadyevich Abramovich. Abramovich’s parents were exiled to Siberia as Jews during the Soviet takeover of Lithuania. His great-grandfather was likewise deported to a Soviet labor camp. Roman’s parents had both died by the time he was four years old. When the Soviet Union collapsed and capitalism began to spread, he made his first millions as a street vendor. Tires and rubber ducks were among the first products sold by the company.
With close contacts to Russian government leaders, Roman Abramovich was able to expand his engagement in the oil industry and amass enormous wealth. In 1995, Abramovich purchased a majority stake in Russian oil producer Sebneft, giving him complete control of the company. Afterward, he invested extensively in Russia’s steel industry. Roman has shifted his concentration to acquisitions of technology companies in recent years.