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« Roman Abramovich is the September 2006 Man of the Month »

roman.jpgWith the start of the 2006/2007  Premier League of England, soccer for those of you not in the know, it is only fitting that the Mas Macho September 2006 Man of the Month is Roman Abramovich. Abramovich, a Russian oil billionaire, is the owner of Chelsea Football Club, the best soccer team in the world.

Born in Saratov, on 24th October 1966, Abramovich was an orphan by the age of four. His studies ended when he was drafted into the Soviet Army.

Although he also holds a Ukrainian passport, Abramovich was elected Chukotka's representative to the Russian Duma in 1999, and became Governor of Chukotka in 2001, showering the province with infrastructure and other funding from his own pocket. Subsequently, Abramovich was able to grant tax waivers to Sibneft in Chukotka.

Through a series of inside deals, Abramovich has amassed a vast fortune. For example, he owns a large stake in the world's second largest Aluminium producer, Russian Aluminium, as well as 49% of television station ORT.

However, the most important component of his fortune has been his oil trading. Affiliates of Abramovich purchased Russian oil company Sibneft for $100.3 million. Sibneft produces around $3 billion worth of oil annually.  Sibneft diluted the shares of its principal production company, Noyabrskneftagaz, then merged with it, transferring over $400 million. (September 1997).

khodorkovskyIn 2003, Abramovich sold most of Sibneft to now imprisoned Mikhail Khodorkovsky's larger oil company, Yukos. This deal included $3 billion in cash. In July of that same year, Abramovich purchased Chelsea F.C. and the soccer world has never been the same. Relieved.

According to Wikipedia, in March 2006 Abramovich was listed by Forbes Magazine as the richest Russian, 2nd richest person in Britain and the 11th richest person in the world with an estimated fortune of $18.2 billion. Everyone above him in the list was at least ten years older. For these reasons, Mas Macho has awarded Roman Abramovich the distinction of Man of the Month for September 2006.

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