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17th Jan 2016

Chelsea and Arsenal owners lose an absolute fortune because of oil price crash

Big losses

Ben Kiely

The Russian oligarchs have had better weeks.

Russia’s super rich have lost an absolute fortune recently thanks to the oil price crash. The oligarchs are down more than $11 billion (€10 billion) in the space 10 trading days as the price oil has fallen to below $30 (€27.50) a barrel, according to the Telegraph.

Roman Abramovich, who made his billions from the sale of oil behemoth Sibneft and now owns Chelsea football club, is reportedly down $820m (€751m).

Arsenal’s second biggest shareholder, steel tycoon Alisher Usmanov, is also thought to have lost $910m (€834m) since the start of the year.

However, don’t expect to see either pawning their yachts in order to pay for a lunch from Dealz. These guys still have a hell of a lot of money to play with.

It is estimated that Abramovich is still sitting on a whopping $6 billion in savings while Usmanov came in at 71st position in the 2015 Forbes rich list with a personal value of $14.4 billion.

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