How Roman Abramovich made his money and where he lives

Roman Abramovich is the owner of Premier League football team Chelsea Football Club (FC) and a Russian oligarch, businessman, politician and billionaire. Oligarchs means rule of the few. Russian oligarchs are business oligarchs from former Soviet republics who rapidly gained wealth in the era of Russian privatization after the dissolution of the Soviet Union in the 1990s.

Following British sanctions against Russian oligarchs due to the ongoing Ukraine crisis, Russian billionaires have made several money moves around the world. Abramovich, 55, recently announced he would hand over management of Chelsea FC to the club’s charitable trust after owning the team for 20 years.

What is Roman Abramovich’s net worth?

Abramovich’s current net worth stands at $13.1 billion in 2022, according to Forbeswhich is lower than his rank of $14.5 billion in 2021. His current net worth is equivalent to around £9.84 billion.

In 2019, the Israeli-Russian businessman was the second richest person in Israel, the eleventh richest in Russia and the richest person in Portugal. His net worth that year stood at $12.9bn (£9.68bn).

He was said to have been Russia’s richest man in 2008, when his net worth peaked at $23.5billion (£17.65billion), according to India.com. From owning a collection of private jets and luxury cars to investing in major corporations, the Russian oligarch continues to generate great wealth.

How did Roman Abramovich make his money?

He is known to have made the majority of his wealth in the years following the collapse of the Soviet Union and he obtained Russian state-owned assets at below market value during Russia. privatization. Bloomberg said he also has stakes in oil and aluminum companies in Russia, including a Russian steel company, Evras, and the world’s largest producer of refined nickel, Norilsk Nickel.

The businessman is also the main owner of the private investment company Millhouse LLC. He served as governor of the Chukotka Autonomous Okrug from 2000 to 2008 and was a confidant of former Russian President Boris Yeltsin and, according to reports, current leader Vladimir Putin.

Abramovich bought Chelsea FC in 2003 for $190 billion and the club is currently worth $3.2 billion. After starting out in the military, working as a peddler and mechanic, Abramovich moved from oil money to pig farms. However, he was arrested for stealing government property in 1992.

In 2015, he invested and led a $30 million tech funding round alongside stars like DJ David Guetta, Nicki Minaj, will.i.am and Coldplay manager. He has also invested over $30 million in StoreDot.

Where does Roman Abramovich live?

He stays in several places where he owns property from the UK and New York to Israel and Portugal.

Abramovich owns a 15-bedroom mansion in Kensington Palace Gardens, West London. However, The Guardian reported that the businessman is set to vacate this property due to ongoing sanctions.

The oligarch owns four Upper East Side townhouses in Manhattan, New York, which he bought for $74m (£55.5m). These are located at 9, 11, 13, and 15 East 75th Street with plans for them to be combined into a mega mansion.

He has been an Israeli citizen since May 2018 after the UK delayed renewing his visa during tensions between the UK and Russia following the Salisbury poisonings. He also owns the boutique hotel Varsano in Tel Aviv and owns the Herzliya Pituach property, an affluent beachfront neighborhood.

He has also been a Portuguese citizen since April 2021. His Jewish family genealogy has been expunged by experts who found evidence of an interest in Sephardic culture. The Chelsea FC owner has previously donated money to projects honoring the heritage of Portuguese Sephardic Jews in Hamburg, Germany.

Abramovich has also become the world’s biggest spender on luxury yachts, owning a fleet dubbed Abramovich’s Navy in The Sunday Times in 2007. His megayacht is said to cost $590m (£442.78m), according to Luxury launcheswhich is equipped with a missile defense system, an escape pod, a laser shield, a submarine and even three helicopters.

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David C. Barham