Who is Roman Abramovich?
Roman Arkadyevich Abramovich was born on October 24, 1966, in Saratov, Soviet Union. Orphaned by the age of four, he was raised by his uncle and grandmother in northern Russia. He attended the Moscow State Auto Transport Institute but did not complete his studies.
Rise in Business and Political Influence:
Abramovich started trading commodities in the late 1980s, benefiting from the economic changes following the collapse of the Soviet Union. He co-founded the oil trading company Runicom and later gained control of Sibneft, one of Russia’s largest oil producers, in a controversial privatization deal in 1995. He also served as the governor of Chukotka from 2000 to 2008, investing an estimated $2.5 billion of his own money into the region’s development.
Key Industries:
Abramovich built his fortune in oil, gas, mining, real estate, technology, and sports. His business empire expanded with investments in Evraz, Norilsk Nickel, and various real estate projects in London, Moscow, and Tel Aviv.
Roman Abramovich’s Current Net Worth
As of 2025, Abramovich’s net worth is estimated at $14.3 billion. His fortune fluctuates due to market conditions, investments, and external geopolitical factors.
Major Fluctuations in Wealth:
Roman Abramovich’s net worth peaked at around $12 billion in 2008 before the global financial crisis impacted his holdings. The 2022 sanctions imposed by the UK, EU, and US led to asset freezes, impacting his liquidity and business activities. His net worth dropped from approximately £12 billion ($15 billion) in 2021 to £6 billion ($7.5 billion) in 2022, as reported by multiple sources.
Sources of Wealth
Oil and Gas Industry:
Abramovich’s wealth primarily came from the oil industry. In 1995, he acquired a controlling stake in Sibneft for $100 million and sold it to Gazprom for $13.1 billion in 2005. He also invested in aluminum and steel, including stakes in Russian Aluminum and Evraz.
Chelsea Football Club (2003–2022):
Abramovich bought Chelsea FC in 2003 for £140 million ($186 million). Over nearly two decades, he invested approximately £1.5 billion ($2 billion) in the club, leading to numerous domestic and European titles. In 2022, he was forced to sell Chelsea due to UK sanctions imposed in response to Russia’s invasion of Ukraine. The sale, valued at £4.25 billion ($5.3 billion), was completed in May 2022, with approximately $1.85 billion of the proceeds allocated to charitable causes.
Investments in Metals and Mining:
Abramovich has significant holdings in Evraz, a major steel and mining company. His 28.64% stake in Evraz was valued at around $1.2 billion before UK sanctions led to a sharp decline in stock value. Abramovich does not have a direct stake in Norilsk Nickel, the world’s largest nickel producer. However, his business associate, Eugene Shvidler, held a 5% stake in Evraz, which indirectly linked Abramovich to Norilsk Nickel through Evraz’s ownership.
Real Estate Holdings:
Abramovich owns luxury properties in London, New York, the French Riviera, and Tel Aviv. His real estate portfolio includes:
- Kensington Palace Gardens Mansion (London) – Purchased for £90 million in 2009. The estimated value as of 2022 is at least $220 million.
- Château de la Croë (France) – A historic estate on the French Riviera, acquired by Abramovich in 2001. He invested approximately £30 million in its restoration, but it was seized by French authorities in 2022 due to sanctions.
- Manhattan Townhouse (New York) – Bought in 2019 for $74 million. This property includes four townhouses being combined into a 19,400-square-foot mansion, with an estimated additional $100 million for renovation.
- Tel Aviv Properties – Abramovich owns the Varsano boutique hotel, purchased in 2015 for 100 million NIS. He also acquired a property in Herzliya Pituah in 2020 for 226 million NIS, though no $65 million Tel Aviv residence has been publicly confirmed.
Due to sanctions, he has sold several properties to liquidate assets.
Other Business Ventures:
Apart from energy and metals, Abramovich invested in tech startups, venture capital, and the space industry. Notably, in 2015, he led a $30 million funding round for OD Kobo, a music startup, alongside prominent figures like David Guetta and Nicki Minaj. His philanthropic contributions exceed $100 million, funding healthcare, education, and Jewish causes worldwide. For instance, he donated approximately $30 million to Tel Aviv University in 2015 to establish a center for nanoscience and nanotechnology.
Get the latest Net Worth news straight to your inbox!
Subscribe now for exclusive monthly updates on celebrity wealth, investments, and luxury lifestyles. Get insider details on net worth changes and business ventures you won’t find elsewhere.
Financial Challenges and Sanctions
Impact of Western Sanctions:
Following Russia’s invasion of Ukraine, the UK, EU, and US imposed sanctions on Abramovich, freezing his assets and restricting financial transactions. His bank accounts in Western nations were suspended, and businesses linked to him faced operational challenges.
- Sanctions: In March 2022, the UK froze Abramovich’s assets, and the EU and US imposed similar restrictions.
- Chelsea FC Sale: In May 2022, the UK allowed the sale of Chelsea FC to Todd Boehly and Clearlake Capital.
- Tax Investigation: Abramovich may owe £1 billion in unpaid taxes, with MPs calling for a review by HMRC.
- Denial: Abramovich denies the tax allegations, stating he acted on professional advice.
Legal Battles and Financial Restructuring:
Abramovich has challenged some sanctions in court. He restructured his business holdings by transferring shares and properties to associates. Some assets, such as yachts and aircraft, were relocated to jurisdictions beyond Western control.
Lifestyle and Spending Habits
Yachts and Private Jets:
Abramovich owns two of the world’s largest yachts:
- Eclipse (533 feet) – Valued at $600 million, featuring a missile defense system.
- Solaris (460 feet) – Estimated at $500 million, equipped with advanced security technology. His aircraft fleet includes a Boeing 767-33AER and a Gulfstream G650ER, worth over $150 million combined.
Art Collection:
Abramovich’s art collection includes works by Picasso, Monet, and Bacon. His estimated art holdings are valued at over $1 billion. Notable purchases:
- Francis Bacon’s Triptych (1976) – Acquired for €61.4 million (approximately $86.3 million) in May 2008.
- Lucian Freud’s Benefits Supervisor Sleeping – Bought for €23.9 million (approximately $33.6 million) in May 2008.
Philanthropy and Charitable Contributions:
Abramovich has donated over $500 million to various causes, including:
- $100 million for Chukotka’s infrastructure as part of a broader $1.3 billion investment.
- Millions to Jewish communities and Holocaust remembrance, including a major donation to Yad Vashem.
- Support for healthcare and humanitarian aid, such as funding a new ICU at Sheba Medical Center during the COVID-19 pandemic.
Comparison with Other Billionaires
Ranking Among Russian Billionaires:
Abramovich ranks among Russia’s top 10 wealthiest individuals but falls behind figures like Vladimir Potanin ($30 billion) and Alexei Mordashov ($22 billion). However, as of February 2025, Roman Abramovich’s net worth is estimated at $9.7 billion, placing him outside the top 10 wealthiest individuals in Russia.
Net Worth Compared to Sports Team Owners:
He remains one of the wealthiest former sports team owners. For comparison:
- Steve Ballmer (LA Clippers) – $158 billion.
- Rob Walton (Denver Broncos) – $70 billion.
- Jerry Jones (Dallas Cowboys) – $14.5 billion.
Wealth Accumulation Strategies:
Unlike tech moguls who rely on stock appreciation, Abramovich built his wealth through acquisitions, asset sales, and industrial investments.
FAQs
1. How did Roman Abramovich become wealthy?
Through strategic acquisitions in oil, metals, and real estate. The $13 billion Sibneft sale was his largest business deal.
2. What was the impact of selling Chelsea FC on his net worth?
He sold Chelsea for $5.3 billion, but due to UK sanctions, he did not profit personally from the sale.
3. How have sanctions affected Abramovich’s wealth?
Sanctions froze his bank accounts, forced asset sales, and limited business transactions, reducing his liquidity.
4. What are his most valuable assets?
His most valuable assets include real estate, Evraz and Norilsk Nickel shares, and luxury yachts.
5. Is Abramovich still investing in new businesses?
Despite restrictions, he continues investing through proxies in technology and venture capital.
Conclusion
Roman Abramovich’s net worth remains substantial despite sanctions and asset freezes. His wealth, built on oil, metals, and real estate, faces challenges but remains resilient. His influence in business and sports remains significant.
