Connect with us

Hi, what are you looking for?

Jewish Business News

The A-List

Roman Abramovich Loses $450 Million in Ruble’s Fall

Roman Abramovich

Jewish Russian oligarch Roman Abramovich just lost about $450 million due the nosedive that the Russian Ruble has taken this week against the Dollar. And his partner in the British Chelsea soccer team Alisher Usmanov lost a bit more than $800 million.

So far this year the Russian Ruble has lost as much as 60% of its value against Western currencies. This is attributed to the flight of foreign capital from the country as investors pulled out due to Russia’s actions in Ukraine earlier this year. Also, sanctions by the EU and the US imposed on Russia because of its Ukrainian incursions and the recent drop in the price of oil, Russia’s biggest export, have crippled its economy.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Chelsea Soccer fans may be hoping that this will force Abramovich to sell his share of the team in order to raise capital. The team’s former manager Andre Villas-Boas, who lasted in that position for only 8 months, has put the blame for the team’s recent woes squarely on the Russian billionaire’s shoulders. He feels that Abramovich’s legal problems distracted him from properly running the team.

The Portuguese Villas-Boas told The Telegraph, “I arrived at a difficult time in the private life of the chairman, who was rarely present. This clearly had an effect. Then I was surprised and I am still surprised that the chairman’s intentions changed. When I went there the idea was to rebuild the team.”



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.