One of the richest individuals in the world, Roman Abramovich is a Russian businessman, investor, and politician. He is largely recognized as a self-made man who, although coming from a very poor background, built his own empire through toil and extraordinary self-assurance when negotiating business deals. Being the owner of the elite English football team Chelsea is his largest claim to fame outside of Russia. His wealth increased dramatically when he acquired the private investment company Millhouse LLC. Roman served a brief stint in the Russian army before leaving and taking odd jobs to make ends meet. Over time, he rose up the ranks by building up his savings and starting five of his own businesses with the money he had acquired. Roman’s appointment as chairman of Comfort Co-Op marked his largest financial success. Following his election as Chukotka’s governor in 2000, Roman entered politics, and three years later, he was recognized for all of his efforts as a businessman and governor by receiving the “Order of Honour.” He continues to be close with Vladimir Putin, the president of Russia, and is steadily moving up the corporate ladder to become the richest man in Russia.
Early Childhood & Life
Roman Abramovich was born on October 24, 1966, in a lower-middle-class family in Saratov, Russia. Soon after his birth, his parents passed away. He was consequently an orphan at the age of 2, and his uncle then brought him to Ukhta. Roman experienced hard times from a young age and learned the importance of money, which helped him learn to save it. Roman launched his first business while still a student, producing plastic toys.
While Roman was enrolled at the industrial institute in Ukhta, he was enlisted in the Russian army. After realizing he was bored with it and that it wasn’t his calling, he began attending the Moscow State Auto Transport Institute after his discharge from the army. He never completely completed his studies before turning his attention to his ambitions to get wealthy as quickly as feasible.
Roman’s excellent economic acumen enabled him to make a sizeable profit from his first few projects, and he continued working for financial success.
Career of Roman Abramovich
Roman ended up being fortunate in the sense that, in the late 1980s, when Roman was just getting started, Russia was beginning to open up to significant commercial and tax reforms. He established a plastic toy manufacturing business with the money he had so far saved, and he began selling toys from his modest apartment at a small profit. Regardless of how little the profit was, it showed off Roman’s immaculate business talents, and after continuing to do it for a few more years, Roman recognized it was time to move on to bigger things.
Roman had a great understanding of the market from 1992 to 1995 and made investments in the appropriate sectors. He mainly focused on creating reselling companies that served as intermediates and brought in some good profits. Shortly after that, Roman narrowed his concentration to oil companies. He first met Boris Berezovsky in 1995, and the two teamed up to invest $100 million in controlling shares of the energy business Sibneft.
The company’s net value was estimated to be $150 million when Roman started buying shares, and as the share prices increased, he and his partner made millions of dollars. After being accused of fraud, Boris left the country in 2000 and sold his shares to Roman, which helped Roman expand his empire.
Roman began eyeing the Russian aluminum business, which was then believed to be a very lucrative sector, after having enormous success with Sibneft. When Roman gained control of the infamous aluminum battle and applied his financial acumen, the killings stopped and he emerged as the lone victor in the Russian “Aluminum War.” The infamous aluminum war was underway, and multiple murders were occurring for the acquisition of the industry.
Roman acquired the majority of the businesses that controlled Chelsea Football Club, one of the league’s worst clubs at the time, in June 2003. The club has done well enough under his leadership and Roman cheers on the team in practically every game.
Roman invested $30 million in the Israeli start-up music app Music Messenger in 2015, teaming up with artists including Nicki Minaj and David Guetta.
Electoral Life of Roman Abramovich
From 2000 to 2008, Roman Abramovich served as the governor of Chukotka, and during that time, he committed about $1 billion to the region’s development. With the influx of several investors, the region’s business climate substantially improved, and numerous schools and hospitals were constructed.
For his economic knowledge and performance as the governor, a Russian business publication recognized him as Person of the Year in 2003. Roman’s plea to leave his position was granted by President Dmitri Medvedev, who also stated that the charity endeavors he established in his honor will continue.
Controversies of Roman Abramovich
Many people believe Roman Abramovich used improper methods to achieve his success, casting doubt on his claims. It was rumored that Roman himself caused some deaths during the aluminum battles in order to succeed. In addition, he has frequently been charged with fraud and taking bribes, among other things. The majority of these rumors are attributable to Roman’s incarceration in the early 1990s for allegedly stealing government property.
Individual Life of Roman Abramovich
In December 1987, Roman Abramovich married Olga Lysova for the first time; they divorced three years later. He married stewardess Irina Malandina four years later in 1991, and the couple had five kids together. When Roman began seeing Dasha Zhukova, the couple filed for divorce in 2007. The pair married in 2008, and they had two daughters.
Estimated net worth of Roman Abramovich
According to Forbes, Roman’s net worth is approximately USD $9.2 billion, ranking him as the 233rd richest person in the world. According to Russian media reports, Roman has given to Russian philanthropic organizations more than any other man in history. He reportedly spent billions more on the social and structural welfare of various Russian cities in addition to the millions he donated to the construction of schools and hospitals.