Friday, October 10, 2008

no more chelsea fc soon….

Abramovich, Deripaska, Oligarchs Lose $230 Billion

Russian billionaires from aluminum magnate Oleg Deripaska to soccer-club owner Roman Abramovich lost more than $230 billion in five months during the nation's worst financial crisis since the 1998 default on its debt. The combined wealth of Forbes magazine's 25 richest Russians tumbled 62 percent between May 19 and Oct. 6, based on the equity value of traded companies and analysts' estimates of closely held assets they own. The loss is four times larger than the fortune of the world's wealthiest man, Warren Buffett.

Posted by mark @ 12:07 PM (616 views)
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9 thoughts on “no more chelsea fc soon….

  • So it’s not all doom & gloom then. I’m surprised at the size of these numbers. The figure often bandied about for Abramovitch’s wealth is £10bn but according to this he’s lost 20bn. I don’t suppose he’s walking up to beggars and telling them they’re £10bn richer than he is.

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  • But all this was stolen money anyway.

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  • hmmmm where does it all go ?

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  • Some good news that may come out of this – footballers pay may suffer.

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  • Abramavich might fall off the end of one of his yachts.

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  • @Icarus: Leverage? Like banks can lose 10x what they actually have.

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  • Maybe they can do an oil for food program?

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  • Out of interest, anyone have a league table of Footy teams with regards to their financial worthiness?

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  • rumble – I think the losses identified are based on shares in limited liability companies – the worst case is you end up with nowt.

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