English Premiership

Russian tycoons lose millions

2014-12-19 09:49
Roman Abramovich (File)
Cape Town - Chelsea owner Roman Abramovich and Arsenal shareholder Alisher Usmanov both lost a fair chunk of their fortunes this week due to the economic decline in Russia, reports Football411.

The Russian rouble is currently at its lowest value in over a decade, partly due to trade sanctions and the on-going production of cheap oil in Saudi Arabia.

Bloomberg's Billionaires index reported that a total of £5.53 billion was surrendered by 15 Russian billionaires in the space of just 48 hours, Abramovich and Usmanov amongst them.

It has cost Abramovich £287m while Usmanov lost £516m, although their net worth still sits at £8.18 billion and £8.57 billion respectively.

Monaco supremo Dmitry Rybolovlev was another to be hit in the pocket after he lost £95.9m, leaving his net worth at £6.26 billion.


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