17 Feb 2009

Abramovich loses some of his wealth

6:11 am on 17 February 2009

The Chelsea football club owner Roman Abramovich has seen his wealth reduced by about 17 billion dollars in the financial crisis, according to a business magazine.

Finans magazine reports that Abramovich held on to second place among Russia's wealthiest people with a fortune of 27 billion.

Last year, American magazine Forbes estimated Abramovich was worth 45 billion.

Russia has been hit hard during the recent financial crisis and several of the country's tycoons have suffered.

An updated Forbes list is due in around two months.