From Russia with steel, oligarch Usmanov arrives at the Emirates
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Russian steel baron Alisher Usmanov, who yesterday bought a 14.6 per cent stake in Arsenal, is an ultra-wealthy businessman who is mainly known to the man in the street in Russia for his ownership of the country's successful business daily Kommersant.
His fellow billionaire Russian, Roman Abramovich, the owner of Chelsea, who has just become his Premier League rival, shares Usmanov's steel interests. Abramovich's private holding company bought a 41 per cent share in Russia's biggest steel producer Evraz Group SA two years ago. Presumably, the two men also share an interest in football.
Usmanov is the 23rd-richest businessman in Russia and the 278th-richest businessman in the world, according to the Forbes rich list. Abramovich came in at No 40 this year, with a net worth of $18.7bn (£9.3bn).
Usmanov was once described as "probably one of the best" businessmen in Russia, by Boris Berezovsky, a London-exiled Russian oligarch who is President Vladimir Putin's sworn rival. He "doesn't let political passions get the better of him," Berezovsky once said.
Usmanov, who was born in the central Asian republic of Uzbekistan, is one of the top 10 steelmakers in Russia and had gobbled up shares in the Anglo-Dutch steelmaker Corus. He heads Gazprominvestholding, part of the state-run Gazprom giant which supplies gas to Europe, which is run by close allies of Putin. He also owns the massive Gazmetall/Metalloinvest, which controls 40 per cent of iron ore production in Russia.
When he took over the Kommersant publishing house last year, a chill ran through the newsroom of its flagship newspaper as Usmanov was known to be close to Putin, and there were fears he would be a "hands-on" owner at the paper, which had been a fierce critic of Putin.
Usmanov met staff and said that he would not interfere with the paper's editorial policy. But he added, without seeming to realise the contradiction, that Kommersan would support the Kremlin, according to a former journalist on the paper.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments