Russian Billionaire Abramovich Quits As Chukotka Governor

July 5, 2008 11:23 a.m. EST

Moscow, Russia (AHN) - Russian billionaire Roman Abramovich, owner of several luxury homes and the Chelsea Football Club in London, has officially resigned as governor of Chukotka, a depressed icy region in the Russian far east near Alaska.

Russian President Dmitri Medvedev accepted the 41-year old billionaire's resignation. In 2006, Abramovich tendered his resignation to then Russian President Vladimir Putin, however, he was persuaded by now Russian Prime Minister Putin to stay.

The Kremlin news service reported that Abramovich stepped down "at his own request." He quit the job as his work in Chukotka was over, according to John Mann, Abramovich's spokesman. As governor he improved the standard of living its 50,000 populace through personal investments.

Abramovich, however, will continue helping Chukotka through his investment firm Millhouse Capital and two of his charities to lessen federal subsidies for food, fuel and employment in the province.