What is Roman Abramovich’s net worth?

ROMAN ABRAMOVICH is a successful Russian businessman and a Oligarch.

But he is on the verge of selling Chelsea – one of his biggest assets.

The Forbes-listed billionaire has owned the West London club since 2003 and has turned it into a success story by winning EVERY trophy possible.

However, the Russian invasion of Ukraine has forced Abramovich to part ways with one of his most prized possessions.

Who exactly is he and how much is he worth?

Who is Roman Abramovich?

In addition to being a Russian Oligarch, a successful businessman and a billionaire, Roman Abramovich also has experience as a politician.

He was formerly Governor of Chukotka Autonomous Okrug, Russia’s most Easterly province, from 2000-2008.

In addition, he was the primary owner of the private investment company Millhouse LLC and is currently at the helm of Chelsea football club.

Born on October 24, 1966, Abramovich sadly lost both parents at a young age which meant that he was raised by relatives and spent most of his youth in the Komi Republica located in northern Russia.

The 55-year-old has been married and divorced three times; having five children with the second wife Irina Malandina – a former Russian Aeroflot stewardess – and three with third wife Zhukova who ended their relationship in 2008.

In 1988, Abramovich capitalised on the collapse of the Soviet Union by obtaining Russian state-owned assets at low prices and selling them for a profit.

In 1997, Abramovich completed the £76m purchase of state oil giant Sibneft with fellow oligarch Boris Berezovsky.

In 2001, Abramovich bought the Sibneft stakes of Berezosky and another businessman, Badri Patarkatsishvili, for a combined £1bn.

This purchase was subject to a UK court case in 2011, in which Berezovsky’s allegation that he had been intimidated into selling the shares below market value was rejected.

In 2005, Abramovich sold 75.7 per cent of Sibneft to Gazprom for a huge £10bn.

What is Roman Abramovich’s net worth?

Roman Abramovich is estimated to have a net worth of approximately £10.3 billion ranking him at #142 on the Forbes list.

He currently has stakes in steel giant Evraz and Norilsk Nickel, as well as owning Chelsea.

Why is he selling Chelsea?

The Russian mogul is parting ways with Chelsea because he is facing threat of being sanctioned by the UK government, prospective buyer Hansjorg Wyss believes.

The Swiss billionaire said: “Abramovich is one of Vladimir Putin’s closest advisers and friends.

“Like all other oligarchs, he is also in a panic.

“Abramovich is trying to sell all his villas in England. He also wants to get rid of Chelsea quickly.

“I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.”

Should sanctions be imposed, Abramovich would potentially have all of his assets in the UK frozen and ultimately lose control of the West London outfit.

On March 2, Abramovich released a statement saying: “I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC.

“As I have stated before, I have always taken decisions with the Club’s best interest at heart.

“In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.

“The sale of the Club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid.

“This has never been about business nor money for me, but about pure passion for the game and Club.

“Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated.

“The foundation will be for the benefit of all victims of the war in Ukraine.

“This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.

“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner.

“However, I do believe this is in the best interest of the Club.

“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person.

“It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements.

“Chelsea Football Club and its supporters will always be in my heart.”

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Source: Soccer - thesun.co.uk