Roman's empire laid bare

Russian billionaire Roman Abramovich.

Russian billionaire Roman Abramovich.

Published Feb 18, 2011

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He has seven homes in the UK, a mere 22 bank accounts in Russia and drives a four-year-old Volkswagen.

The fortune of Chelsea owner Roman Abramovich has been laid bare, leading to a welter of criticism.

The declaration was made on Thursday under Russian anti-corruption laws because he is standing for re-election in the regional parliament in the province of Chukotka, where he was once governor.

It shows that most of his property is in Britain - six flats and a house, compared with four homes in Russia, two in the US and three in France.

The 44-year-old is reportedly seeking to convert flats in Belgravia into a mansion valued at around £150 million (R1.75 billion) to share with his girlfriend, Daria “Dasha” Zhukova.

There was speculation on Thursday that other British properties linked to him may have been switched to ex-wife Irina, mother of five of his six children, as part of their divorce settlement.

The declaration also states Abramovich has almost £72m (R835m) in 22 bank accounts, and more than £25m (R290m) held in shares.

Aides stressed they hoped the move would scotch rumours that he owns other properties.

Spokesman John Mann said he hoped “the fact that Russian properties are listed first will encourage reporters to stop falsely reporting that his principle home is London”, and also “stop people reporting on properties he has never owned”.

However, the Russian blogosphere was full of negative reaction, reinforcing sentiments expressed by former Soviet leader Mikhail Gorbachev that Abramovich was a symbol of his country’s “rich debauchery”.

One critic said: “It looks like he’s investing most of all into English property - why doesn’t he take part in the elections in England?”

Another commentator said: “Very dangerous. Can start a revolution.”

Critics also noted the declaration failed to mention his “Roman Navy” of ocean-going yachts or his private “air force” of planes and helicopters, while it did reveal a humble VW Golf worth £7 000 (R80 000) among his cars.

The sums fall short of the £11bn (R128bn) estimate of his wealth from Finans magazine in Russia, which values his Chelsea Football Club holding at £402m (R4.7 bn). The Moscow Times pointed out the tycoon also owns the Eclipse - the world’s longest motor yacht. This does not appear on the list published for March’s regional elections.

It’s a far cry from Abramovich’s first declaration as a Russian MP in 1998 when his only car was a modest Lada and he reported he had no land or properties.

Chelsea recently smashed the British transfer record by paying £50m (R580m) to Liverpool for striker Fernando Torres. - Daily Mail

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