Roman Abramovich Net Worth: How Rich Is The Russian Chelsea FC Owner?

As war rages in Ukraine amid Russia’s invasion, oligarchs with alleged ties to Russian President Vladimir Putin, including Roman Abramovich, have been targeted in sanctions announced by the U.K. government. Here's a look at Abramovich's fortune today and how the penalties are affecting his businesses and assets, specifically the U.K. soccer team Chelsea F.C.

Abramovich was once Russia's richest man, with his net worth peaking at $23.5 billion in 2008, according to Forbes. Today, a Forbes estimate put his net worth at around $7.2 billion, though Bloomberg reported a higher estimate of $13.5 billion.

In addition to owning the vast majority of Chelsea F.C., the 55-year-old is also the largest shareholder of Russia's second-biggest steelmaker, Evraz, and owns stakes in the world's largest producer of refined nickel, Norilsk Nickel. He previously sold a 73% stake in Russian oil firm Sibneft to state-owned gas titan Gazprom for $13 billion in 2005.

Earlier this month, Abramovich announced his decision to sell Chelsea F.C. — his most valuable U.K. asset — and other assets in Britain amid growing sanctions over the Ukraine war.

Abramovich reportedly bought the Premier League club in 2003 for £140 million ($182 million today). Chelsea F.C. was expected to sell for around £3 billion ($4 billion), with the billionaire reportedly planning to write off £1.5 billion ($2 billion) in debt owed to him by the club, according to CNBC.

Abramovich's luxury properties in the U.K. include a Kensington mansion valued at £150 million ($196 million) and a Chelsea Waterfront penthouse bought for £22 million ($29 million) in 2018, CNBC reported. The properties were expected to sell for a combined £200 million ($261 million).

However, last week, the U.K. slapped sanctions against the billionaire and six other oligarchs as part of its efforts to "isolate" Putin, and Abramovich had his assets, including Chelsea F.C., frozen and travel restricted, CNBC reported.

Under the sanctions, the sale of the soccer team has been halted, and the club is now subject to a special government license that strictly regulates what it can and cannot do.

Currently, Chelsea F.C. can continue to play matches, but only season-ticket holders and those who have already bought tickets will be allowed to attend.

The club will not be allowed to buy, transfer or loan players until the sanctions are lifted. Broadcast and prize money was frozen as well.

Chelsea F.C. also closed the Club shop at Stamford Bridge and started laying off staff, according to CNBC.

British property tycoon Nick Candy has expressed interest in buying Chelsea F.C., CNN reported. However, several sponsors and commercial partners, including British telecoms network Three, have since distanced themselves from the soccer club.

The U.K. government said it will consider providing additional special dispensation to allow the sale of the club to go through, under the condition that it does not benefit Abramovich.

Last week, another U.K. soccer club, Everton, suspended all sponsorship deals with the Uzbek oligarch Alisher Usmanov, another alleged ally of Putin who was struck by sanctions.