Roman Abramovich

This name uses Eastern Slavic naming customs; the patronymic is Arkadyevich and the family name is Abramovich.
Roman Abramovich
Governor of Chukotka
In office
17 December 2000 – 3 July 2008
Preceded by Alexander Nazarov
Succeeded by Roman Kopin[1]
Owner of Chelsea Football Club
Assumed office
June 2003
Preceded by Ken Bates
Personal details
Born Roman Arkadyevich Abramovich
24 October 1966 (1966-10-24) (age 49)
Saratov, Russian SFSR, Soviet Union
Nationality Russian
Spouse(s) Olga Yurevna Lysova (m. 1987–90)
Irina Vyacheslavovna Malandina (m. 1991–2007)
Daria "Dasha" Zhukova (m. 2008/2009—)[2]
Children Seven (five with Malandina; two with Zhukova)
Residence Chelsea, London, United Kingdom
Occupation Owner of Millhouse Capital
Owner of Evraz
Major Shareholder of Norilsk Nickel
Owner of Chelsea F.C.
Religion Judaism
Net worth DecreaseUS$7.8 billion (March 2016)[3]

Roman Arkadyevich Abramovich (Russian: Рома́н Арка́дьевич Абрамо́вич, pronounced [rɐˈman ɐrˈkadʲjɪvʲɪtɕ ɐbrɐˈmovʲɪtɕ]; born 24 October 1966) is a Russian businessman, an investor, and a politician.

Abramovich is the primary owner of the private investment company, Millhouse LLC. Abramovich is best known outside of Russia as the owner of Chelsea Football Club, a Premier League football team.

According to Forbes, Abramovich's net worth in 2015 was US$ 7.8 billion (2015),[3] making him the 12th richest person in Russia, and the 137th richest person in the world.

Business career

Abramovich started his multibillion-dollar business during his army service.[4] After a brief stint in the Soviet Army, Abramovich married his first wife, Olga. Abramovich first worked as a street-trader and then as a mechanic at a local factory.[5] At the peak of perestroika, Abramovich sold imported rubber ducks from his Moscow apartment.[6]

Abramovich attended the Gubkin Institute of Oil and Gas in Moscow (where he sold retreaded car tyres as a sideline[7]), then traded commodities for Runicom, a Swiss trading company.[8]

In 1988, as perestroika opened up opportunities for privatization in the Soviet Union, Abramovich got a chance to legitimize his old business.[9] He and Olga set up a company making dolls. Within a few years his wealth spread from oil conglomerates to pig farms and he also started investing in other businesses. Abramovich set up and liquidated at least 20 companies during the early 1990s, in sectors as diverse as tyre retreading and bodyguard recruitment.[10][11]

From 1992 to 1995, Abramovich founded five companies that conducted resale, produced consumer goods, and acted as intermediaries, eventually specializing in the trading of oil and oil products. However, in 1992, he was arrested and sent to prison in a case of theft of government property: AVEKS-Komi sent a train containing 55 cisterns of diesel fuel, worth 3.8 million roubles, from the Ukhta Oil Refinery; Abramovich met the train in Moscow and resent the shipment to the Kaliningrad military base under a fake agreement, but the fuel arrived in Riga. Abramovich co-operated with the investigation, and the case was closed after the oil production factory was compensated by the diesel's buyer, the Latvian-US company, Chikora International.[12]

In 1995, Abramovich and Boris Berezovsky, an associate of President Boris Yeltsin, acquired the controlling interest in the large oil company Sibneft. The deal was within the controversial loans-for-shares program and each partner paid US$100 million for half of the company, below the stake's stock market value of US$150 million at the time, and rapidly turned it up into billions. The fast-rising value of the company led many observers, in hindsight, to suggest that the real cost of the company should have been in the billions of dollars.[13] Abramovich later admitted in court that he paid huge bribes (in billions) to government officials and obtained protection from gangsters to acquire these and other assets (including aluminium assets during the aluminium wars).[14]

Thus the main stages of Abramovich's financial career were January 1989 to May 1991, as chairman of the Comfort Co-op (manufacturer of plastic toys), and May 1991 to May 1993, as director of the ABK small enterprise in Moscow. According to various sources, from 1992 to 1995 Roman Abramovich set up five companies engaged in the production of consumer goods and selling-and-buying. In May 1995, jointly with Boris Berezovsky, he set up the P.K. Trust close joint-stock company. In 1995 and 1996, he established another 10 firms: Mekong close joint-stock company, Centurion-M close joint-stock company, Agrofert limited liability company, Multitrans close joint-stock company, Oilimpex close joint-stock company, Sibreal close joint-stock company, Forneft close joint-stock company, Servet close joint-stock company, Branco close joint-stock company, Vector-A limited liability company, which, again together with Berezovsky, he used to purchase the shares of the Sibneft public company.[15]

The Guardian describes Abramovich's career as follows:[16]

By 1996, at the age of 30, Abramovich had become so rich and politically well-connected that he had become close to President Boris Yeltsin, and had moved into an apartment in the Kremlin at the invitation of the Yeltsin family. In 1999, and now a tycoon, Abramovich was elected governor of Russia's remote, far eastern province of Chukotka, and has since lavished £112 million (€132 million) on charity to rebuild the impoverished region. The identikit image being pieced together for us was of a self-made man who was not only powerful and wealthy, but acutely aware of those who had done less well in the tumultuous 1990s, when the Soviet Union fell.

Friendship with Boris Berezovsky

In 1992, Abramovich founded Mekong. He began selling oil from Noyabrsk. Eventually, he met fellow Russian businessman and entrepreneur Boris Berezovsky.

According to two different sources, he first met Berezovsky either at a meeting of the Russian businessmen in the Caribbean in 1993[17] or in the summer of 1995 on the yacht of his friend Pyotr Aven.[18]

Berezovsky introduced Abramovich to "the family", the close circle around the then president, Boris Yeltsin, which included his daughter Tatyana Dyachenko and chief security adviser, Alexander Korzhakov.[17]

Together with Berezovsky, Abramovich founded the offshore company Gibraltar-registered Runicom Ltd. and five Western European subsidiaries. Abramovich headed the Moscow affiliate of the Swiss firm, Runicom S.A. In August 1995, Sibneft was created by Boris Yeltsin’s presidential decree. It was rumored that Abramovich was the chief of the organization with Berezovsky promoting the business in higher circles.[19][20]

Acquisition of Sibneft, aluminium wars, and loans-for-shares

Further information: Sibneft, Loans-for-shares and Gazprom Neft

In 1995, Abramovich and Berezovsky acquired a controlling interest in the giant Soviet oil company Sibneft. Affiliates of Abramovich, with affiliates of Boris Berezovsky, purchased Sibneft for US$100.3 million (the company was worth US$2.7 billion at that time). As of 2000, Sibneft produced around US$3 billion worth of oil annually.[21] Abramovich established several "fly-by-night" firms and together with his friend Boris Berezovsky used them to acquire the stock of Sibneft. As a result, the tycoon managed to pay for the company 25 times less than the market price. Bought for a total of US$200 million, Sibneft is now worth seventy five times as much.[22]

The Times claimed that he was assisted by Badri Patarkatsishvili.[23] This acquisition was under the controversial loans-for-shares programme initiated by President Boris Yeltsin.[24][25][26] After Sibneft, Abramovich's next target was the aluminium industry. After privatisation the 'aluminium wars' led to murders of smelting plant managers, metals traders and journalists as groups battled for control of the industry. Abramovich famously emerged as the winner of the aluminium wars.[23] The Times stated that in a BBC investigation into Abramovich's wealth, reporter John Sweeney noted that, after the oligarch (Abramovich) emerged at the top of the trade, the murders stopped.[27]

Relationship with Boris Berezovsky and Badri Patarkatsishvili

The Times also notes:[23]

Mr Abramovich discloses that there was a showdown at St Moritz airport in Switzerland in 2001 when Mr [Badri] Patarkatsishvili asked him to pay US$1.3 billion (€925 million) to Mr Berezovsky. "The defendant agreed to pay this amount on the basis that it would be the final request for payment by Mr Berezovsky and that he and Mr Patarkatsishvili would cease to associate themselves publicly with him and his business interests." The payment was duly made.

Mr Abramovich was also willing to pay off Mr Patarkatsishvili. He states that he agreed to pay US$585 million (€416 million) "by way of final payment".

Mr Abramovich denies that he helped himself to Mr Berezovsky's interests in Sibneft and aluminium or that he threatened a friend of the exile. "It is denied that Mr Abramovich made or was party to the alleged explicit or implicit coercive threats or intimidation," he states.

According to court-papers submitted by Abramovich and seen by The Times (UK),[23] Abramovich mentions in the court-papers:

Prior to the August 1995 decree [of Sibneft's creation], the defendant [Abramovich] informed Mr Berezovsky that he wished to acquire a controlling interest in Sibneft on its creation. In return for the defendant [Abramovich] agreeing to provide Mr Berezovsky with funds he required in connection with the cash flow of [his TV company] ORT, Mr Berezovsky agreed he would use his personal and political influence to support the project and assist in the passage of the necessary legislative steps leading to the creation of Sibneft.

Mr Patarkatsishvili did ... provide assistance to the defendant in the defendant's acquisition of assets in the Russian aluminium industry.

According to the Mirror Online, Abramovich paid Berezovsky tens, and even hundreds, of millions every year for "krysha" , or mafia protection.[28]

$15 million investment in Music Messenger

Further information: Shellanoo Group and OD_Kobo

In 2015, Abramovich invested $15 million in Israeli music sharing start-up Music Messenger by Shellanoo Group.[29][30] Besides Abramovich, several well-known people in the global music industry, who also took part in the company's previous round, participated in the current round, among them David Guetta, Nicki Minaj, Tiesto and others.

Relationship with Kremlin

Boris Yeltsin

By 1996, at the age of 30, Abramovich had become close to President Boris Yeltsin, and had moved into an apartment inside the Kremlin at the invitation of the Yeltsin family.[16]

In 1999, the 33-year-old Abramovich was elected governor of the Russian province of Chukotka. He ran for a second term as governor in 2005. The Kremlin press service reported that Abramovich's name had been sent for approval as governor for another term to Chukotka's local parliament, which confirmed his appointment on 21 October 2005.

Vladimir Putin

Abramovich was the first person to originally recommend to Yeltsin that Vladimir Putin be his successor as the Russian president.[31] When Putin formed his first cabinet as Prime Minister in 1999, Abramovich interviewed each of the candidates for cabinet positions before they were approved.[32] Subsequently Abramovich would remain one of Putin's closest confidants. In 2007 Putin consulted in meetings with Abramovich on the question of who should be his successor as president - Medvedev was personally recommended by Abramovich.[33]

Chris Hutchins, a biographer of Putin, describes the relationship between the Russian president and Abramovich as like that between a father and a favorite son. Abramovich himself says that when he addresses Putin he uses the Russian language's formal "Вы" (like Spanish "usted", German "Sie" or French "vous"), as opposed to the informal "ты" (Spanish "tú", German "du" or French "tu"). Abramovich says that the reason is because 'he is more senior than me'.[34] Within the Kremlin, Abramovich is referred to as "Mr A".[35]

Political career

Duma member

In 1999, Abramovich was elected to the State Duma as the representative for the Chukotka Autonomous Okrug, an impoverished region in the Russian Far East. He started the charity Pole of Hope to help the people of Chukotka, especially children, and in December 2000 was elected governor of Chukotka, replacing Alexander Nazarov.

Governor

Abramovich was the governor of Chukotka from 2000 to 2008. It has been estimated that he spent over US$1.3 billion (€925 million) of his own money on the region,[36] which now has one of the highest birth rates in Russia.[37] Under Abramovich, living standards improved, schools and housing were restored and new investors were being drawn to the region.[38]

In 2003, Abramovich was named Person of the Year by Expert, a Russian business magazine. He shared this title with Mikhail Khodorkovsky.

Abramovich was awarded the Order of Honour for his "huge contribution to the economic development of the autonomous district [of Chukotka]", by a decree signed by the President of Russia.[39]

Resignation

In early July 2008 it was announced that President Dmitri Medvedev had accepted Abramovich's request to resign as governor of Chukotka, although his various charitable activities in the region would continue. In the period 2000–2006 the average salaries in Chukotka increased from about US$165 (€117/£100) per month in 2000 to US$826 (€588/£500) per month in 2006.[12][40]

Controversies

Roman Abramovich has been alleged to be involved in various wrongdoings. The Times said that Abramovich "famously emerged triumphant after the 'aluminium wars', in which more than 100 people are believed to have been killed in gangland feuds over control of the lucrative smelters."[23][41]

Boris Berezovsky allegations

Boris Berezovsky (his one-time business partner) alleged in 2008 that Abramovich harassed him with "threats and intimidation" to cheat him to sell his valuable shares at less than their true worth.

In 2011 Berezovsky brought a civil case against Abramovich, called Berezovsky v Abramovich,[42] in the High Court of Justice in London, accusing Abramovich of blackmail, breach of trust and breach of contract, and seeking over £3 billion in damages.[43]

On 31 August 2012, the High Court dismissed the lawsuit. The High Court judge stated that because of the nature of the evidence, the case hinged on whether to believe Berezovsky or Abramovich's evidence. The judge found Berezovsky to be "an unimpressive, and inherently unreliable witness, who regarded truth as a transitory, flexible concept, which could be moulded to suit his current purposes", whereas Abramovich was seen as "a truthful, and on the whole reliable, witness".[43][44]

Bribery

In 2008 The Times reported that Abramovich admitted that he paid billions of dollars for political favours and protection fees to obtain a big share of Russia's oil and aluminium assets as was shown by court papers obtained by The Times.[23]

Allegations of illegal share-dilution

Yugraneft, an affiliate of Sibir Energy, is seeking billions of dollars in damages in a lawsuit in London against Roman Abramovich and his investment company Millhouse Capital, alleging that it was cheated out of its Russian assets.[45] The proceedings "involve substantial claims to recover the proceeds of the diluted interest", said Sibir Energy, a company co-owned by the billionaire Shalva Chigirinsky.[45]

Arrest for theft

In 1992 he was arrested in a case of theft of government property. AVEKS-Komi sent a train containing 55 cisterns (tankers) of diesel fuel, worth Р3.8 million (Roubles), from the Ukhta Oil Refinery (Case No. 79067 for the large-scale theft of state property);[12][46] Abramovich met the train in Moscow and resent the shipment to the Kaliningrad military base under a fake agreement, but the fuel arrived in Riga. Abramovich cooperated with the investigation, and the charges were dropped after the oil production factory was compensated by the diesel's buyer, the Latvian-U.S. concern Chikora International.[12]

Allegations of loan fraud

An allegation emerging from a Swiss investigation links Roman Abramovich, through a former company, and numerous other Russian politicians, industrialists and bankers to using a US$4.8 billion (€3.4 billion) loan from the IMF as personal slush fund; an audit sponsored by the IMF itself determined that all of the IMF funds had been used appropriately.[47]

In January 2005, the European Bank for Reconstruction and Development (EBRD) indicated that it would be suing Abramovich over a £9 million (US$14.9 million/€10.6 million) loan.[48] The EBRD said that it is owed US$17.5 million (€12.45 million/£10.6 million) by Runicom, a Switzerland-based oil trading business which had been controlled by Abramovich and Eugene Shvidler. Abramovich's spokesman indicated that the loan had previously been repaid.[49]

Antitrust law violation in Russia

Russia's antitrust body, the Federal Antimonopoly Service, claimed that Evraz Holding, owned in part by Abramovich, had breached Russian competition law by offering unfavorable terms for contractors and discriminating against domestic consumers for coking coal, a key material used in steel production.[50]

Dispute with Kolomoyskyi

According to Putin, Abramovich has been cheated by Igor Kolomoyskyi. Putin claimed that Kolomoyskyi had reneged on a contract with Abramovich, saying “He [Kolomoyskyi] even managed to cheat our Roman Abramovich two or three years ago. Scammed him, as our intellectuals like to say. They signed some deal, Abramovich transferred several billion dollars, while this guy never delivered and pocketed the money. When I asked him [Abramovich]: “Why did you do it?” he said: “I never thought this was possible.”[51]

Abramovich and European football

Chelsea F.C.

For more details on this topic, see Chelsea F.C..

In June 2003, Abramovich became the owner of the companies that control Chelsea Football Club in West London. The previous owner of the club was Ken Bates, who went on to buy Leeds United. Chelsea immediately embarked on an ambitious programme of commercial development, with the aim of making it a worldwide brand on a par with footballing dynasties such as Manchester United and Real Madrid, and also announced plans to build a new state-of-the-art training complex in Cobham, Surrey.[52]

Chelsea finished their first season after the takeover in second place in the Premier League, up from fourth the previous year. They also reached the semi-finals of the Champions League, which was eventually won by surprise contender Porto, managed by José Mourinho. For Abramovich's second season at Stamford Bridge, Mourinho was recruited as the new manager, replacing the incumbent Claudio Ranieri. Chelsea ended the 2004–05 season as league champions for the first time in 50 years and only the second time in their history. Since the takeover, the club have won 13 major trophies – the UEFA Champions League, the UEFA Europa League, the Premier League four times, the FA Cup four times (with 2010 providing the club's first ever league and FA Cup double) and the League Cup three times, making Chelsea the most successful English trophy winning team in the decade.

Roman Abramovich at Stamford Bridge during a 4–0 victory over Portsmouth in August 2008.

It was argued that Abramovich's involvement with Chelsea distorted the football transfer market throughout Europe,[53] as his wealth often allowed the club to purchase players virtually at will. That has changed in recent years, but he did sanction the transfer of Andriy Shevchenko for a then-British record transfer fee of around £30 million (€35.3 million).

In the year ending June 2005, Chelsea posted record losses of £140 million (€165 million) and the club was not expected to record a trading profit before 2010, although this decreased to reported losses of £80.2 million (€94.3 million) in the year ending June 2006.[54] In a December 2006 interview, Abramovich stated that he expected Chelsea's transfer spending to fall in years to come.[55]

Abramovich is present at nearly every Chelsea game and shows visible emotion during matches, a sign taken by supporters to indicate a genuine love for the sport, and usually visits the players in the dressing room following each match. This stopped for a time in early 2007, when press reports appeared of a feud between Abramovich and manager Mourinho regarding the performance of certain players, notably Andriy Shevchenko.[56]

In the early hours of 20 September 2007, Mourinho announced his exit as Chelsea manager by mutual consent with the club following a meeting with the board.[57] The former Israel coach and Chelsea's director of football, Avram Grant, was named as his replacement.[58] Ever since Grant had joined Chelsea in 2007, there had been friction between him and Mourinho. Mourinho reportedly told Grant not to interfere in team affairs but, with Abramovich's backing, Grant's profile at the club rose after he was made a member of the board. This event apparently did not go down well with Mourinho and may have contributed to his surprise departure.[59] Grant led Chelsea to the position of runners-up in the Premiership and the club's first appearance in the Champions League final, beaten by Manchester United on both accounts. Nevertheless, on 24 May 2008, Grant was sacked as manager by Abramovich.[60]

On 11 June 2008, it was announced that Luiz Felipe Scolari, who had taken Brazil to World Cup glory in 2002, would be taking over as manager, but he only lasted until 9 February 2009 before being sacked. In February 2009, acclaimed coach Guus Hiddink was appointed caretaker manager for the rest of the 2008/09 season, delivering Chelsea's first post-Mourinho trophy with the FA Cup.

Hiddink was replaced by another former European Cup winning boss, Carlo Ancelotti. In May 2010, Ancelotti took Chelsea to their first league and FA Cup "double" in his first season as manager. The following season, in January 2011, Spanish footballer Fernando Torres completed his move to Chelsea on a 5 1⁄2-year contract on 31 January for an undisclosed fee, reported to be £50 million, which set a new record for a British transfer and made him the fourth most expensive footballer in history. Ancelotti was sacked as manager at the end of his second season with the club in May 2011, after Chelsea's impressive form at the start of the campaign collapsed spectacularly during the winter months.

André Villas-Boas, after taking Porto to a Europa League triumph, and having previously worked alongside Mourinho at Stamford Bridge, was appointed as Abramovich's seventh manager of Chelsea on 22 June 2011. Villas-Boas, however, was sacked in on 4 March due to a bad run of form, with only one win in 11 games. The next manager was Roberto Di Matteo, who was appointed to this role after winning the Champions League and the FA Cup serving in a caretaker capacity. Di Matteo was also sacked on 21 November 2012 after their 3–0 loss to Juventus.[61] Former Liverpool boss Rafael Benítez was appointed as manager for the remainder of the club's campaign. He won Chelsea the 2012–13 UEFA Europa League against Benfica before leaving at the end of his term as interim manager.

Roman Abramovich watches his team Chelsea play against Leicester City, August 2014

After the 2012–13 season, Benítez left Chelsea, whereupon José Mourinho returned as manager, signing a four-year deal.[62] On 1 July 2013, Chelsea celebrated ten years under Abramovich's ownership. Before the first game of the 2013–14 season against Hull City on 18 August 2013, the Russian thanked Chelsea supporters for ten years of support in a short message on the front cover of the match programme, saying, "We have had a great decade together and the club could not have achieved it all without you," "Thanks for your support and here’s to many more years of success."[63]

CSKA Moscow

In March 2004, Sibneft agreed to a three-year sponsorship deal worth €41.3 million (US$58 million) with the Russian team CSKA Moscow. Although the company explained that the decision was made at management level, some viewed the deal as an attempt by Abramovich to counter accusations of being "unpatriotic" which were made at the time of the Chelsea purchase. UEFA rules prevent one person owning more than one team participating in UEFA competitions, so Abramovich has no equity interest in CSKA. A lawyer, Alexandre Garese, is one of his partners in CSKA.

Following an investigation, Abramovich was cleared by UEFA of having a conflict of interest.[64] Nevertheless, he was named "most influential person in Russian football" in the Russian magazine Pro Sport at the end of June 2004. In May 2005, CSKA won the UEFA Cup, becoming the first Russian club ever to win a major European football competition. In October 2005, however, Abramovich sold his interest in Sibneft and the company's new owner Gazprom, which sponsors Zenit Saint Petersburg, cancelled the sponsorship deal.[65]

Russian national team

Abramovich at the World Cup in Germany

Abramovich also played a large role in bringing Guus Hiddink to Russia to coach the Russia national football team.[66] Piet de Visser, a former head scout of Hiddink's club PSV Eindhoven and now a personal assistant to Abramovich at Chelsea, recommended Hiddink to the Chelsea owner.[67]

National Academy of Football

In addition to his involvement in professional football, Abramovich sponsors a foundation in Russia called the National Academy of Football. The organization sponsors youth sports programs throughout the country and has constructed more than fifty football pitches in various cities and towns. It also funds training programs for coaches, prints instruction materials, renovates sports facilities and takes top coaches and students on trips to visit professional football clubs in England, the Netherlands and Spain. In 2006 the Academy of Football took over the administration of the Konoplyov football academy at Primorsky, near Togliatti, Samara Oblast, where over 1,000 youths are in residence, following the death at 38 of its founder, Yuri Konoplev.[68]

Personal life

Family

His family is Jewish. Abramovich's family is from Taurage, Lithuania, their real family name is Abramovichus. His father Arkady (Aron) Abramovichus (1937—1970), was a state office manager, while his grandfather Nahim (Nahman) Abramovichus (1887 - 1942), was a businessman.[69][70] Abramovich's mother is Irina Michalenko, his maternal grandfather was Vassili Michalenko and his maternal grandmother was Faina Grutman.[71] Abramovich is a chairman of the Federation of Jewish Communities of Russia (which is allied with Putin's administration), and donates money to the Chabad movement.[72] Abramovich has been married three times.

In December 1987, he married Olga Yurevna Lysova;[19] they divorced in 1990. In October 1991, he married a former Russian Aeroflot stewardess, Irina Vyacheslavovna Malandina.[73][74] They divorced in 2007.[12][19] He and Malandina have five children; Ilya, Arina, Sofia, Arkadiy and Anna.[74][75] On 15 October 2006, the News of the World reported that Irina had hired two top UK divorce lawyers, following reports of Abramovich's close relationship with the then 25-year-old Dasha Zhukova, the former girlfriend of the tennis player Marat Safin and daughter of a prominent Russian oligarch, Alexander Radkin Zhukov. It was speculated that a future divorce settlement (amounting to a conjectured £5.5 billion (€6.5 billion)) might be the highest ever on record. The Abramoviches replied that neither had consulted attorneys at that point.[76][77] However, they later divorced in Russia in March 2007, with a settlement reported as being US$300 million (€213 million).[74][78] Abramovich has two children with Zhukova, a son, Aaron Alexander, and a daughter, Leah Lou.[75]

Wealth

According to Forbes, as of March 2011, he had a net worth of US$13.4 billion up from US$11.2 billion the previous year, ranking him as the 53rd richest person in the world.[79] Prior to the financial crisis, he was considered to be the second richest person living within the United Kingdom.[80] Early in 2009, The Times estimated that due to the global economic crisis he has lost £3 billion from his £11.7 billion wealth.[81]

Charitable donations

Abramovich donates more money to charity than any other Russian.[82] Since 1999, Abramovich has donated more than $2.5 billion to build schools, hospitals and infrastructure in Chukotka. In addition, Evraz Plc (EVR), the steelmaker partly owned by Abramovich, donated $164 million for social projects between 2010 through 2012, an amount that isn’t counted in Abramovich’s $310 million donations during this period.[82]

Abramovich has reportedly spent approximately £1.5bn on the Pole of Hope, his charity set up to help those in the Arctic region of Chukotka, where he is governor.[83]

Other interests and activities

Art

Statue of Roman Abramovich in a mall in Eilat.

Roman Abramovich sponsored an exhibition of photographs of Uzbekistan by renowned Soviet photographer Max Penson (1893–1959) which opened on 29 November 2006 at the Gilbert Collection at Somerset House in London. He previously funded the exhibition "Quiet Resistance: Russian Pictorial Photography 1900s–1930s" at the same gallery in 2005.[84] Both exhibits were organized by the Moscow House of Photography.[85]

In May 2008, Abramovich emerged as a major buyer in the international art auction market. He purchased Francis Bacon's Triptych 1976 for €61.4 million (US$86.3 million) (a record price for a post-war work of art) and Lucian Freud's Benefits Supervisor Sleeping for €23.9 million (US$33.6 million) (a record price for a work by a living artist).[86]

His partner Dasha Zhukova is managing a Garage Center for Contemporary Culture|gallery of contemporary art in Moscow that occupies a historical Bakhmetevsky Bus Garage building by Konstantin Melnikov. The building, neglected for decades and partially taken apart by previous tenants, was restored in 2007–2008 and reopened to the public in September 2008. Speed and expense of restoration is credited to sponsorship by Abramovich.[87]

Yachts

Abramovich has become the world's greatest spender on luxury yachts, and had been linked to five yachts in what the media have called "Abramovich's Navy":[88]

The world's largest expedition yacht, Luna, is seen docked in San Diego.

Former boats:

Aircraft

Roman Abramovich's Boeing 767, landing at Ben Gurion Airport, Israel

He owns a private Boeing 767-33A/ER, registered in Aruba as P4-MES. It is known as "The Bandit" due to its cockpit paint detail. Originally the aircraft was ordered by Hawaiian Airlines but the order was cancelled and Abramovich bought it from Boeing and refitted it to his own requirements. He also owns a Dassault Falcon 7X with registration LX-MES. It's called the 'Mini bandit'.[96]

See also

References

  1. ↑ Роман Абрамович подал в отставку, Mass Media, 3 July 2008 Archived 15 February 2011 at WebCite
  2. ↑ http://www.wsj.com/articles/rem-koolhaas-and-dasha-zhukova-build-a-moscow-museum-1421071592
  3. 1 2 "Roman Abramovich". Forbes.
  4. ↑ Roman Abramovich started his multi-billion-dollar business during army service. English pravda.ru. Retrieved 3 December 2010. Archived 15 February 2011 at WebCite
  5. ↑ Abramovich quits as Governor at the Wayback Machine (archived 1 March 2009). RT (TV network).ru (3 July 2008).
  6. ↑ Roman Abramovich – Russiapedia Politics and society Prominent Russians. RT (TV network).
  7. ↑ Asthana, Anushka. "Roman Abramovich". The Times (London). Retrieved 22 May 2010.
  8. ↑ FRONTLINE/WORLD . Moscow – Rich in Russia . How to Make a Billion Dollars – Roman Abramovich. PBS. Retrieved 3 December 2010.
  9. ↑ The Biography of the Great Oil Tycoon Roman Abramovich at the Wayback Machine (archived 10 February 2011). Leadership Biographies (12 February 2010).
  10. ↑ The great Roman empire – Analysis, Opinion. Independent.ie (1 October 2005). Retrieved 3 December 2010.
  11. ↑ Weyer, Martin Vander. The winner of Russia's free-for-all, The Telegraph (UK), 31 October 2004. Retrieved 23 April 2010.
  12. 1 2 3 4 5 Vandysheva, Olga (3 July 2008). "Roman Abramovich is no longer Chukotka's governor". Komsomolskaya Pravda (St Petersburg edition). KP.ru. Retrieved 4 July 2008.
  13. ↑ Dominic Midgley and Chris Hutchins Abramovich. The billionaire from nowhere Harper-Collins, 2005 ISBN 978-0-00-718984-7
  14. ↑ Chelsea owner admits he paid out billions in bribes – Europe, World News. Independent.ie (5 July 2008). Retrieved 3 December 2010.
  15. ↑ Хостинг-Центр. The Guardian-psj.ru. Retrieved 3 December 2010. (in Russian)
  16. 1 2 Levy, Adrian; Scott-Clark, Cathy. 'He won, Russia lost', 8 May 2004. Retrieved 23 April 2010.
  17. 1 2 Strauss, Julius. Shy orphan who rose to join Russia's super-rich, The Daily Telegraph, 6 November 2003. Retrieved 23 April 2010.
  18. ↑ He Was the Penniless Orphan at the Wayback Machine (archived 20 December 2010). bmi Voyager (28 October 2008). Retrieved 3 December 2010.
  19. 1 2 3 medvedev « KP.RU – Russia’s Biggest and Best Tabloid. Komsomol.wordpress.com. Retrieved 3 December 2010.
  20. ↑ Roman Abramovich is no longer Chukotka's governor //. Kp.ru. Retrieved 3 December 2010.
  21. ↑ Lee S. Wolosky, "Putin's Plutocrat Problem", Foreign Affairs, V79#2, March/April 2000, p. 21.
  22. ↑ On the Ball at the Wayback Machine (archived 10 July 2011). The Jewish Chronicle (15 October 2004).
  23. 1 2 3 4 5 6 Kennedy, Dominic. Roman Abramovich admits paying out billions on political favours, The Times, 5 July 2008. Retrieved 23 April 2010.
  24. ↑ OAO Siberian Oil Company (Sibneft) – Company History. Fundinguniverse.com. Retrieved 3 December 2010.
  25. ↑ Russia, Economy, Putin, Oligarchs, Loans for Shares – JRL 9–30–05. Cdi.org (29 September 2005). Retrieved 3 December 2010.
  26. ↑ Russia, Oil, Gazprom, Sibneft – JRL 9–29–05. Cdi.org (29 September 2005). Retrieved 3 December 2010.
  27. ↑ To survive the aluminium wars, mettle was needed – Times Online. The Times. 5 July 2008.
  28. ↑ Fricker, Martin (5 November 2011) Trending Jeremy Clarkson Kate Middleton pregnant Solar Eclipse 2015 General election 2015 Roman Abramovich revealed: The dangerous world of Roman and Russia's oligarchs . mirror.co.uk
  29. ↑ Abramovich leads $30m round in OD Kobo's music start-up. Globes.co.il. Retrieved 20 April 2015.
  30. ↑ Music Messenger, the App That Nicki Minaj and David Guetta Invested In, Is Exploding -- Here's Why. billboard.com. Retrieved 22 April 2015.
  31. ↑ The Crisis of Russian Democracy: The Dual State, Factionalism and the Medvedev Succession, By Richard Sakwa, Cambridge University Press 2011, page 135
  32. ↑ Dominic Midgley & Chris Hutchins, Abramovich: The Billionaire from Nowhere, Harper Collins Willow (3 May 2005), page 102
  33. ↑ The Crisis of Russian Democracy: The Dual State, Factionalism and the Medvedev Succession, By Richard Sakwa, Cambridge University Press 2011, page 135 and page 271
  34. ↑ Inside the hidden world of Roman's empire. The Guardian. 24 December 2006.
  35. ↑ Roman Abramovich revealed: The dangerous world of Roman and Russia's oligarchs The Mirror, 5 November 2011 00:02, By Martin Fricker
  36. ↑ Smale, Will (29 September 2005). "What Abramovich may do with his money". BBC News. Retrieved 22 May 2010.
  37. ↑ RussiaToday: Features: Birth rate boost in Abramovich's region at the Wayback Machine (archived 18 March 2008). RT (TV network).ru (17 March 2008).
  38. ↑ Abramovich quits as Governor at the Wayback Machine (archived 18 July 2008). RT (TV network) (3 July 2008).
  39. ↑ Russia’s Putin Awards Order of Honor to Abramovich at the Wayback Machine (archived 4 March 2007). MosNews.com (20 January 2006). Retrieved 19 October 2006.
  40. ↑ Walker, Shaun (4 July 2008). "Abramovich quits job in Siberia to spend more time on Western front". The Independent (London). Retrieved 4 July 2008.
  41. ↑ Kennedy, Dominic (5 July 2008). To survive the aluminium wars, mettle was needed, The Times. Retrieved 23 April 2010.
  42. ↑ [2012] EWHC 2463 (Comm)
  43. 1 2 "Court win 'vindicates' Abramovich". Press Association. 31 August 2012. Archived from the original on 1 September 2012. Retrieved 31 August 2012.
  44. ↑ "Roman Abramovich Wins Court Battle Against Berezovsky". BBC. 31 August 2012. Retrieved 31 August 2012.
  45. 1 2 Medetsky, Anatoly. Russian energy company seeking damages from Abramovich, Moscow Times, 19 November 2007. Retrieved 29 September 2008.
  46. ↑ Russia-InfoCentre :: Roman Abramovich Russian tycoon :: people. Russia-ic.com. Retrieved 3 December 2010.
  47. ↑ Kennedy, Dominic. Chelsea boss linked to $4.8bn loan scandal, The Times, 16 August 2004. Retrieved 23 April 2010.
  48. ↑ Sweeney, John; Behar, Richard (16 January 2005). "Bank to sue Abramovich over '£9m debt'". BBC News. Retrieved 22 May 2010.
  49. ↑ Hope, Christopher (19 January 2005). "European bank sues Abramovich over £9.4m 'debt'". The Daily Telegraph (London). Retrieved 22 May 2010.
  50. ↑ Santarris, Ben (10 September 2008). "Evraz Accused of Breaking Russian Antitrust Laws". The Oregonian. Retrieved 19 March 2013.
  51. ↑ Press conference on the situation in Ukraine
  52. ↑ "Chelsea to build new training complex". Worldsoccer.com. 27 September 2004. Retrieved 3 July 2007.
  53. ↑ Scott, Matt (28 November 2006). "Rummenigge hits out over Chelsea's massive spending". The Guardian (London). Retrieved 28 November 2006.
  54. ↑ "Roman Abramovich Calm About Chelsea's Record Losses". MosNews. 30 January 2006. Archived from the original on 23 March 2006. Retrieved 19 January 2007.
  55. ↑ "We will cut spending — Abramovich". BBC. 24 December 2006. Retrieved 19 January 2007.
  56. ↑ Lowe, Sid (13 April 2007). "Instability at Chelsea could force me to leave, says Mourinho". The Guardian (London). Retrieved 13 April 2007.
  57. ↑ "Mourinho makes shock Chelsea Exit". BBC Sport. 20 September 2007. Archived from the original on 18 January 2010. Retrieved 20 September 2007.
  58. ↑ "Chelsea name Grant as new manager". BBC Sport. 20 September 2007. Archived from the original on 17 January 2010. Retrieved 20 September 2007.
  59. ↑ "Mourinho issues warning to Grant". BBC Sport. 12 July 2007. Retrieved 20 September 2007.
  60. ↑ "Grant sacked as Chelsea manager". BBC Sport. 24 May 2008. Archived from the original on 17 January 2010. Retrieved 24 May 2008.
  61. ↑ "Roberto Di Matteo named as permanent Chelsea manager". BBC. 13 June 2012. Retrieved 22 November 2012.
  62. ↑ JOSE MOURINHO – FIRST TEAM MANAGER. Chelsea F.C.
  63. ↑ "Love is all around at Stamford Bridge as Roman and Jose are friends reunited". Daily Mail. 18 August 2013. Retrieved 19 August 2013.
  64. ↑ Abramovich’s Soccer Interests Cleared by Uefa at the Wayback Machine (archived 11 November 2006), mosnews.com (2 September 2004). Retrieved 19 October 2006.
  65. ↑ FIFA World Cup 2010 – ESPN FC. ESPN.go.com (28 November 2005). Retrieved 17 July 2013.
  66. ↑ Australia & PSV Coach Guus Hiddink Recommended To Russia Football Union By Chelsea Owner Roman Abramovich, Who Will Pay Wages. Worldcuplatest.com.
  67. ↑ Dutch scout is Abramovich's secret link. The Daily Telegraph. 9 June 2005.
  68. ↑ Wilson, Jonathan (2 January 2008). "Russia reaps rewards of visionary school". The Guardian (UK). Retrieved 19 January 2008.
  69. ↑ ↑ Геноцид жителей Литвы 1939—1941. — Вильнюс: Центр исследования геноцида и резистенции жителей Литвы, 1999. — С. 78—79.
  70. ↑ ↑ Родовое гнездо Абрамовича нашлось в Литве // — Радио Свобода, 2010
  71. ↑ ↑ Неизвестные страницы жизни Романа Абрамовича КП — Саратов
  72. ↑ The Piratization of Russia: Russian Reform Goes Awry, By M. Goldman, Routledge, 2 June 2003, page 132
  73. ↑ The Daily Mail: "Will Irina Abramovich bring about Roman's fall?" By RICHARD PENDLEBURY 15 October 2006
  74. 1 2 3 Il Giornal: "Abbandonata dal marito, Galina Berezovskij si consola con 227 milioni di euro" 24 July 2011 (in Italian) \"Irina Vyacheslavovna Malandina, ex-hostess dell'Aeroflot nonché madre dei suoi 5 figli,"
  75. 1 2 Miami Newsday: "Chelsea owner Roman Abramovich celebrates birth of his seventh child, his second with model Daria Zhukova" 14 April 2013
  76. ↑ Kennedy, Dominic; Stewart, Will. Abramovich is 'deeply hurt' by claims his wife wants a divorce, The Times, 17 October 2006. Retrieved 23 April 2010.
  77. ↑ Mikhailova, Anna. Meeting Dasha Zhukova, Roman Abramovich's girl, The Times, 13 July 2008. Retrieved 23 April 2010.
  78. ↑ Harding, Luke (16 March 2007). "Goodnight Irina: Abramovich settles for mere £155m". Vedomosti reported in The Guardian (London: Guardian News and Media Ltd). Retrieved 16 March 2007.
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  80. ↑ The Sunday Times Sunday Times Rich List 2008
  81. ↑ Haynes, Deborah (18 January 2009). "Abramovich wants to sell Chelsea". The Sunday Times (UK). Archived from the original on 6 January 2010. Retrieved 18 January 2009. Philip Beresford, who compiles The Sunday Times Rich List, conservatively estimates that Abramovich has lost £3 billion from his £11.7 billion fortune.
  82. 1 2 Most Charitable Russian Abramovich Leads Billionaires Bloomberg News, By Henry Meyer and Alex Sazonov 24 April 2013
  83. ↑ Lock, Georgina (5 October 2005). "The charitable side of ... Roman Abramovich". Third Sector.co.uk. Retrieved 17 December 2015.
  84. ↑ Roman Abramovich funds London exhibition at the Wayback Machine (archived 11 February 2007). The Art Newspaper. 27 November 2006.
  85. ↑ Roman Abramovich and Dasha Zhukova Art Collection. artmagazine.nicholaschistiakov.com
  86. ↑ "Roman Abramovich brings home the $86.3m Bacon and the $33.6m Freud". The Art Newspaper (1 June 2008)
  87. ↑ Osipovich, Alexander (16 September 2008). "Abramovich's girlfriend opens major Moscow art gallery". Agence France-Presse. Retrieved 21 September 2008.
  88. ↑ "Admiral Chelski wins sea supremacy" The Sunday Times 17 January 2007
  89. ↑ Frank, Robert (12 January 2007). "The Russians Are Coming – at 40 Knots". The Wall Street Journal.
  90. 1 2 Sorrel, Charlie (21 September 2009). "Russian Billionaire Installs Anti-Photo Shield on Giant Yacht". Wired. Retrieved 21 September 2009.
  91. ↑ Pancevski, Bojan. Roman Abramovich zaps snappers with laser shield, The Times, 20 September 2009. Retrieved 23 April 2010.
  92. ↑ Billionaire Roman Abramovich super yacht fleet extended with 78 meter yacht called M/Y Titan » Agent4Stars. Blog.agent4stars.com (15 November 2010).
  93. ↑ Stern, Jared Paul (14 July 2011). "David Geffen's New $300 Million Yacht Gets Upstaged By A Russian Businessman's Boat In Mallorca". businessinsider.com. Retrieved 2 October 2011.
  94. ↑ Ecstasea video and pictures. Kupoprodaja.com.
  95. ↑ Motor Yacht Luna 115m Delivered to Roman Abramovich. Superyachts.com (12 April 2010). Retrieved 17 July 2013.
  96. ↑ Roman Abramovich's Big Bucks And Big Toys ~ STUN Magazine. Stunmag.com (21 September 2011). Retrieved 17 July 2013.

Bibliography

External links

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Government offices
Preceded by
Alexander Nazarov		 Governor of Chukotka
2000 – 3 July 2008 		Succeeded by
Roman Kopin
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