Abramovich Loses $20 Billion
Bad news for free-spending Russian billionaire and Luxist mascot Roman Abramovich: he lost a staggering $20 billion over the past few months as Russia's financial markets took a tumble. The figure was calculated "based on assets excluding property and cash," Bloomberg reports, and it means that Abramovich's net worth is now only $3.5 billion. He had previously been ranked as the 15th richest man in the world with a fortune of $23.5 billion. Some other Russian oligarchs have fared pretty poorly as well. Russia's richest man - well, formerly anyway - Oleg Deripaska lost more than $16 billion, and Vladimir Lisin lost $22 billion. Overall, Russia's richest men have lost a combined total of $230 billion in five months, Bloomberg notes. No single man has suufered as much as Indian steel tycoon Lakshmi Mittal, who lost $28 billion as we reported earlier this week. Still, Abramovich's loss is likely to affect him more as he so obviously enjoyed spending his immense wealth. So - anyone want to buy a $350 million megayacht?
How Kidnapping Suspect Passes Time Behind Bars
Chili's Waitress Fired Over Facebook Post Insulting 'Stupid Cops'
12 Common Workout Myths Debunked
Billboard Music Awards: Worst Dressed (or Most Daring?) From Past Red Carpets
Forbidden America: Cold War-Era Map Shows No-Go Zones For Soviet Tourists
Courtney Stodden Has A Sex Tape
HSBC Plans 14,000 More Job Cuts
Man Takes Dump In Background Of Instructional Workout Video
Police Investigate Student Shooting Death
Tenants: Stench of Death Makes St. Louis Complex 'Unlivable'
Hands-on with the Samsung Galaxy S 4 running stock Android 4.2
Radio Host Makes Shocking Claim About Shooting Hillary Clinton
Taylor Swift Q and A: What Does She Splurge on in Las Vegas?
Ricardo Cerezo, Facing Eviction, Finds $4.85 Million Lottery Ticket
PHOTOS: 10 Deadliest Periods In History (NEW BOOK)
Bill Gates regains title of world's richest person as Microsoft stock hits five-year high
These American Companies Refused To Sign The Bangladesh Safety Accord
Marine Reunited With Four-Legged Friend
LOOK: There's Something Wrong With This Picture
Teen Who Died During Her First Solo Drive May Have Been Texting
PHOTO: Looking Good! Chaz Bono Loses 65 Pounds
PREGNANT!
Former OJ Attorney Gives Shocking Testimony
Waitress Surprised With HUGE Tip On Tiny Bill
PHOTO: Rob Kardashian Takes A Hike
McDonald's Store Owners Fear Fast Food Chain Becoming Too Slow
Will Smith, Jaden Smith Get Photobombed
Guess Which State Boasts The Most Million-Dollar Homes?
Jackpot Soars Again
New Leads In Case Of Missing British Girl
Pictures Showing Pregnant Teens' Bumps Banned From Yearbook
Chef Allegedly Killed Over Noodle Dinner Gone Wrong
Reader Comments (Page 1 of 1)
Bill Oct 13th 2008 8:33AM
Stock options never equal liquidity. So, he could suffer a lose like this and never really feel it, as he didn't have ready access to an equal amount of cash anyway.
nameless Nov 13th 2008 8:13PM
Ummm..he spent like he was worth $20 Billion because he could cash the stock, and may have borrowed billions thanks to them.
Now, he must pay the margin calls, ask Putin for a bailout and accept a dilution of his Russian shares
labinot Dec 30th 2008 10:48AM
I don't think so!!!! Abramovich was the richest of the world, with most Cash flow.....He had a lot of money he can't los 20 billion