Roman Abramovich net worth: Former Chelsea owner’s wealth before and after the sale of football club | International Sports News
Roman Abramovich has been one of the most recognizable billionaire personalities in world business and football for many years. Abramovich, best known for the way in which he turned Chelsea into a European superclub, made his initial fortune well before becoming a Premier League owner, earning billions from oil, steel, and other investments in Russia and abroad. He became a perennial feature of the world’s richest lists in the late 2010s, his opulent lifestyle comprising yachts, jets, and billions of dollars worth of property.That, though, changed when Chelsea was sold in 2022, and Abrahamovic’s financial history began to change too. Political challenges and tough conditions; not the commercial bit, the government didn’t pocket that money. Thus, his net worth post-sale is a stark contrast to his pre-2022-high net worth levels.
Roman Abramovich’s net worth before selling Chelsea FC
Roman Abramovich was thought to have a net worth of between $13 billion and $15 billion, prior to the sale of Chelsea FC. An enormous chunk of this wealth was derived from his unique stake in Russian oil giant Sibneft, which he sold to the Russian state in 2005, accompanied by steel, mining, and investment fund interests.Chelsea was integral to Abramovich’s public persona, but not his primary source of wealth. The club, which he bought in 2003 for around £140m and heavily invested over almost 20 years covering player transfers, infrastructure, and operating losses, went on to win 13 Premier League titles, 5 FA Cups, 7 League Cups, and the UEFA Champions League during the subsequent decade and a half before the prospects waned. While the value of Chelsea increased exponentially during his ownership, which made him a huge profit later on, the club mainly relied on owner funding and not profit distribution, so that Abramovich in principle never paid out dividends during his tenure.
How the Chelsea sale and sanctions reshaped Abramovich’s wealth
Abramovich did agree in 2022 to sell Chelsea for around £4.25 billion to a consortium fronted by US businessman Todd Boehly, on the back of rising political tensions and sanctions from the UK and European Union. Most important of all, the proceeds from the deal would not go directly to Abramovich, but instead would be sunk in a frozen account earmarked for humanitarian use.Hence, the sale did not add to his personal wealth. Alongside the general effects of sanctions, freezing of assets, and blocking access to some sectors of the world’s financial system, Abramovich’s net worth is estimated to have dropped in the years since the sale. Today, estimates put his worth at around $9-10 billion.Also Read: Liam Rosenior becomes Chelsea’s second Black manager, signs until 2032
