Buy like a billionaire: Share tips from Roman Abramovich
- Daily Mail
- June 10, 2013
Russian billionaire and Chelsea owner Roman Abramovich pictured with David Beckham at a FIFA meeting.
Roman Abramovich is best known as the autocratic Russian billionaire owner of Chelsea Football Club. But it is by no means his only business interest.
He and his best friend and business partner, Eugene Shvidler, have their fingers in many pies, including a small AIM firm, AFC Energy, that plans to transform the way large industrial companies use electricity.Abramovich invested $A13.76 million (Pound8.7 million) in AFC late last year and won a seat on the board for his friend Shvidler in return. Six weeks ago, Shvidler bought 12 million AFC shares, spending just over A$4.9 million (Pound3.1 million.)
Nine million shares were bought from Abramovich, while the rest were picked up from AFC employees. Abramovich now owns 10.8 per cent while Shvidler owns 5.4 per cent.
AFC has adapted a fuel cell technology originally used in US and Russian spacecraft during the 1960s. The technology worked perfectly in space but the materials used were so expensive that nobody could find a way to put the system to commercial use on earth.
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