Roman Abramovich: Former symbol of Russia's oligarchy faces uncertain future

Roman Abramovich rose from a penniless background in Russia's frozen north to become a multi-billionaire and a celebrity football tycoon, but his empire is teetering over his alleged Kremlin links.

His decision to hand over control of Chelsea Football Club to trustees of its charitable foundation on Saturday hinted that the 55-year-old oligarch fears his substantial assets in Britain are about to be frozen as the government imposes sanctions on a "hit-list" of oligarchs following Russia's invasion of Ukraine.

Abramovich was one of the businessmen working in the shadows following Russia's collapse in the 1990s, seizing control of lucrative assets once held by the Soviet state, at bargain prices. 

In Abramovich's case, a controlling investment in the oil company Sibneft provided the vehicle for his rise.

He had made money early on with a firm making rubber toys, after growing up an orphan from a Jewish family in the harsh far north.

He is today worth $13.6 billion, according to the latest data from Forbes magazine, and as well as turning Chelsea into a European powerhouse has stakes in steel giant Evraz and Norilsk Nickel.

His property holdings include a 15-bedroom mansion in London's exclusive Kensington area, and he also owns one of the world's largest yachts, the 533-foot (162-metre) Eclipse. 

A newer vessel in Abramovich's luxury fleet, the Solaris, is a little smaller. Both yachts reportedly come equipped with their own anti-missile defences.

In September 2005, he received a gargantuan cash boost with the $13 billion sale of Sibneft to state-owned gas behemoth Gazprom, enabling President Vladimir Putin to regain control of strategic assets.

'Key enabler'

Unlike other oligarchs who tried to take on Putin's Kremlin, such as his