Roman Abramovich

Roman Arkadievich Abramovich (Russian: ?????? ??????????? ??????????) (born October 24, 1966 in Saratov, Russian SFSR, USSR) is a Russian oil billionaire, referred to as one of the Russian oligarchs. In March 2005 he was listed by Forbes Magazine as the richest Russian and the 21st richest person in the world with an estimated fortune of $13.3 billion. (Everyone above him in the list was older than him; the only one of those within a decade of his age was computer magnate Michael Dell, 20 months older). Abramovich is most famous outside of Russia as the owner of Chelsea F.C., an English Premiership football club, his wider involvement in European football, and for his contributions to Jewish enterprises in Israel and elsewhere, reflecting his Jewish origins.

Post-Soviet Privatization, New Wealth and Political Career

Abramovich obtained his wealth by cheaply acquiring shares in newly-privatised industries after the fall of communism. He became the majority shareholder in Sibneft, a large oil company, and is also a major shareholder in RusAl, the world's second-largest aluminium producer, as well as various other companies.

Related Topics:
Sibneft - RusAl

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In 1999 Abramovich was elected to the Russian Duma as the representative for the impoverished Far East region of Chukotka. 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 the corrupt Alexander Nazarov. Since then he has invested hundreds of millions of dollars in Chukotka, for example building a college and hotels in Anadyr and renovating the airport. He has also used Chukotka as a tax haven for Sibneft and has been exploring for oil there. Abramovich said that he would not run for governor again after his term of office expires in 2005, as it is "too expensive" - and he rarely visits the region - but since then Russian President Vladimir Putin has changed the law to abolish elections for regional governors, so it is possible that Putin could appoint Abramovich governor for another term.

Related Topics:
Chukotka - Anadyr - Vladimir Putin

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