Roman Abramovich: Billionaire from the Land of the Red Bear

Bamz Ola
Read Time:1 Minute, 39 Second

Roman Abramovich is one of the most successful business people in Russia, with wealth worth US $ 14.6 billion and places himself in the position of the 70 richest people in the world according to the Bloomberg Billionaires Index.

His wealth comes from the private investment company Millhouse LLC. Outside Russia, he is known as the owner of the English Premier League football team, Chelsea Football Club. Far from luxury at Knightsbrige, West London, Abramovich spent his childhood in a remote area in Komi, Russia.

In 1974 Abramovich moved to Moscow and stayed with his uncle. After completing the school, Abramovich joined the Russian military and got the rank of air defense soldier. Two years in the military, Abramovich returned to Ukhta and entered the Faculty of Forestry at the Industrial Institution.

The first company he owned was the manufacture of a plastic toy called “Uyut” and began selling toys with minimal benefits from his small apartment. At that time, Abramovich had demonstrated his business skills. From there he dared for business to bigger things.

From 1992 to 1995, Abramovich understood the market with a very keen eye and invested in the right industry. He focuses on the establishment of the company and resells it as an intermediary for profit. At that time, Abramovich focused on oil companies.

In 1995, he met Boris Berezovsky and both partnered to become controlling shareholders in one of the Sibneft oil companies with a value of US $ 100 million. During the acquisition of Sibneft shares, its net worth was estimated at US $ 150 million and share prices continued to soar, resulting in millions of dollars in profits for Abramovich and his partners.

In 2003, Abramocivh gained more popularity after he bought the English football club “Chelsea”. He paid the club’s debt and decided to change the team. The club signed a multi-million dollar contract with the most prestigious soccer player. The Russian businessman invested around 150 million pounds in developing the club.

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