Roman Abramovich

Roman Abramovich
Name	Roman Abramovich
Caption	Abramovich in 2021
Birth date	24 October 1966
Birth place	Saratov, Russian SFSR, Soviet Union
Citizenship	Russia, Portugal, Israel
Occupation	Business magnate, investor, philanthropist
Known for	Former owner of Chelsea F.C., Evraz, Millhouse LLC
Net worth	$9.2 billion (2024, Forbes)

Roman Abramovich. He is a Russian-Israeli-Portuguese billionaire businessman, investor, and philanthropist. Abramovich is best known internationally as the former owner of the Premier League football club Chelsea F.C., which he transformed into a global powerhouse. His wealth, derived primarily from oil and aluminium assets following the privatization of state-owned Soviet assets, has made him a prominent, and at times controversial, figure in global business and politics.

Early life and education

Born in Saratov, he was orphaned as a child and raised by relatives in the Komi Republic in northern Russia. He attended the Industrial Institute in Ukhta before studying at the Moscow State Automobile and Road Technical University, though he did not complete a degree. His early business ventures during the late Soviet period included selling plastic ducks and later trading commodities like diesel fuel and consumer goods.

Business career

Abramovich's fortune was cemented in the post-Soviet era through his close association with Boris Yeltsin's administration and other oligarchs. He acquired a major stake in Sibneft, a giant oil company, alongside Boris Berezovsky during the controversial loans-for-shares program. He later held significant interests in aluminium giant Rusal and the mining and steel conglomerate Evraz. Through his investment vehicle Millhouse LLC, he controlled diverse assets, and he served as governor of the Chukotka Autonomous Okrug from 2000 to 2008, investing heavily in the remote region's infrastructure.

Ownership of Chelsea F.C.

In 2003, he purchased the struggling Chelsea F.C. from Ken Bates, marking a new era in football finance. His massive investment in star players like Didier Drogba and managers such as José Mourinho brought immediate success. Under his ownership, Chelsea won multiple Premier League titles, the UEFA Champions League twice, and numerous other trophies including the FA Cup and EFL Cup, establishing a sustained period of dominance in English football. He sold the club in 2022 to a consortium led by Todd Boehly and Clearlake Capital.

Political involvement and sanctions

Long seen as having close ties to the Kremlin and President Vladimir Putin, Abramovich has often acted as an unofficial intermediary in international relations. He facilitated talks during the 2008 Russo-Georgian War and held Israeli and later Portuguese citizenship. Following the 2022 Russian invasion of Ukraine, he was sanctioned by the United Kingdom, the European Union, Canada, and Australia, with assets frozen. He denied close ties to the Russian government but sold Chelsea F.C. with the net proceeds pledged to support victims of the war in Ukraine.

Philanthropy

His philanthropic efforts, often channeled through the Charity Foundation he established, have been extensive. He funded major construction projects in Chukotka, including schools, hospitals, and infrastructure. He has donated hundreds of millions to Jewish causes worldwide, including the Chabad-Lubavitch movement, and to institutions like the Tate Modern in London and the Imperial War Museum. Following the sanctions, he established a fund to support war victims in Ukraine.

Personal life

Abramovich has been married three times, most notably to Irina Malandina and later to Dasha Zhukova. He has seven children from these marriages. Known for his lavish lifestyle, he owns some of the world's most expensive yachts, including Eclipse and Solaris, a fleet of private jets, and global real estate holdings in London, New York City, and Saint-Tropez. His art collection is reported to include works by Francis Bacon and Lucian Freud.

Category:Russian billionaires Category:Sports executives and administrators Category:People sanctioned during the Russo-Ukrainian War