Roman Abramovich A Glimpse into His Business Empire
Roman Abramovich A Glimpse into His Business Empire
Roman Abramovich biography
Roman Abramovich became rich by investing in various businesses and industries, especially in oil and gas, metals and mining, and real estate. According to Wikipedia¹, he started his business career by selling plastic ducks from a small apartment in Moscow. He then expanded his operations by setting up five companies that traded in oil, commodities, and automobiles. He also acquired stakes in several oil and gas companies, such as Sibneft and Gazprom. He later sold his shares for billions of dollars.
He also diversified his portfolio by investing in other sectors, such as metals and mining, telecommunications, media, aviation, and agriculture. He owns stakes in companies like Evraz, Norilsk Nickel, Rusal, Channel One Russia, Aeroflot, and Lebedyansky. He also owns several properties around the world, such as mansions, yachts, hotels, and art collections.
He is also known for his involvement in sports and philanthropy. He bought Chelsea Football Club in 2003 and transformed it into one of the most successful clubs in England and Europe. He has also donated millions of dollars to various causes, such as education, health care, culture, sports, and Jewish communities.
Roman Abramovich is one of the richest men in Russia and the world. According to Forbes², his net worth was $9.2 billion as of 2023.
Roman Abramovich Chelsea
He became the owner of Chelsea in 2003 when he bought the club from Ken Bates for £140 million. He was reportedly looking for a football club to invest in and was advised by his friend and fellow Russian billionaire Boris Berezovsky to buy Chelsea. He was also interested in other clubs, such as Manchester United, Arsenal, and Tottenham Hotspur, but Chelsea was the most attractive option for him at the time.
He transformed Chelsea into one of the most successful clubs in England and Europe, spending over £2 billion on players, managers, and infrastructure. He also supported the club's youth development, women's team, and community projects. Under his ownership, Chelsea won 17 major trophies, including six Premier League titles, two Champions League titles, and two Europa League titles.
He sold Chelsea in 2023 to a consortium led by Todd Boehly and Clearlake Capital for £2.3 billion. He decided to sell the club after he was sanctioned by the British government over his alleged links to Russian President Vladimir Putin and his involvement in the invasion of Ukraine. He also faced visa issues that prevented him from attending Chelsea's matches in England. He stipulated that the new owner must be a good steward of the club, that the net proceeds of the sale must be donated to charity, and that he would not seek the repayment of loans made to affiliates of the club.
Roman Abramovich Chelsea controversies
Some of the controversies he faced as Chelsea’s owner are:
He was accused of buying success by spending huge amounts of money on players and managers, creating an unfair advantage over other clubs1.
He was criticized for his frequent sacking of managers, sometimes without clear reasons or after winning trophies. He changed 16 managers in 20 years.
He was involved in a legal dispute with his former business partner Boris Berezovsky, who claimed he was owed billions of dollars for his role in helping Abramovich acquire Chelsea and other assets. Abramovich won the case in 2012 but admitted to paying bribes and rigging auctions in Russia.
He faced visa issues that prevented him from entering the UK after the poisoning of former Russian spy Sergei Skripal and his daughter in Salisbury in 2018. The UK government suspected that Russia was behind the attack and imposed sanctions on some Russian individuals and entities.
He was sanctioned by the UK government again in 2022 after Russia invaded Ukraine, which the UK condemned as a violation of international law and sovereignty. His assets were frozen and he was disqualified as a director of Chelsea. He decided to sell the club shortly after.
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