How Prepared are You? Born in October 24, 1966 in Saratov, Russia, Abramovich lost his mother when he was a year plus and then his father when he was four, who was killed in a construction accident. He was thereafter adopted by his paternal uncle and raised by his Jewish family. He attended the Industrial Institute in the city of Ukhta before dropping out to being drafted into the Soviet Army, the Soviet military ground force. After a brief stint in the army, he made plastic toys and started up an automobile parts cooperative from a little Moscow apartment. He later attended an oil institute before working for Runicom, a Swiss trading company. The big break came when on Christmas Day in 1991, the then President Mikhail Gorbachev announced his resignation and the end of the USSR. Yeltsin took over and in January 2 1992, prices of all goods and service were freed, and six months later laws were passed heralding the immediate privatization of 80% of state enterprises, from pencil factories to oil refineries. Yeltsin later announced that every citizen was to be issued with a voucher worth 10, 000 roubles that could be exchanged for shares in the companies that employed them or in any other former state enterprise. The vouchers could also be invested in savings schemes. According to Yeltsin “There would be millions of owners rather than a handful of millionaires. Everyone will have equal opportunities in this new undertaking and the rest will depend on themselves…” But most Russians then didn’t know what owning shares means and so the educated ones including a drop out Abramovich took the opportunity. While most Russians where still wondering what to do with the voucher, the 25 year old Abramovich bought up blocks of vouchers from oil workers, converting them into shares in western Siberian energy companies. In 1996, Yeltsin who was desperately in need of funds invited men like Abramovich to participate in loans for shares scheme in return for financial backing. Abramovich now owned a controlling share in an oil company whose reserves of more than four billion barrels were equivalent to those of Texaco, Chevron and Mobil. In 1999, Abramovich was elected to the Russian Duma as the representative for the impoverished Far East region of Chukotka. And in December 2000 was elected governor of Chukotka. In 2003 he became the owner of the companies that control Chelsea Football Club in the United Kingdom. In March 2005, he was listed by Forbes Magazine as the richest Russian and the 21st richest person in the world with an estimated fortune of $13.3 billion. Abramovich, recognized an opportunity when it came and took advantage of it. Acquire knowledge. Prepare yourself so as to cash in on an opportunity whenever it comes your way. Be prepared! Dear Lord bless my friends reading this article and grant them all that is needed to be prepared always in Jesus name! To our success!
Posted on: Wed, 10 Jul 2013 07:35:40 +0000
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