20 Billion Dollar Losses Are Fun

Tuesday, October 14, 2008

Roman Abramovich the Billionaire Russian owner of Chelsea and builder of the largest yacht on the planet, is not having a very good 2008 apparently. Why? Because just like everybody else his shares are falling through the floor. The difference? He has a lot more shares than any of us. Enough shares to make his net worth fall 20 billion, with a B. Why? Because the two companies with which he had major holdings in have fallen 80% since May.

But don't worry too much for Abramovich. He's still worth at least 3.5 billion and well as his publicist or agent said it was just a paper loss. He was never planning on selling any of his stock and utilize the money, so he just like many of us are waiting for the more days like yesterday. And he can always ask for the near 1 billion dollar loan he's granted Chelsea back...

Posted by Simon at 8:53 AM   Digg! submit to reddit BallHype: hype it up!


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