How to spend billions of dollars?


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That is the welcome burden facing Roman Abramovich, Britain’s richest man and owner of the Chelsea football club, who yesterday essentially doubled his fortune – making $13.1 billion when he sold his share in Sibneft. The Financial Times asks its readers for suggestions on how he should spend this new bounty. As I write this, only one response so far, but it was nice to see that it was in favor of alleviating poverty - not buying up all of the Serie A and NBA as well. I think we know what Jeffrey Sachs would say. What would you do?

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Carl Hume
September 29, 2005

Drugs! No, not illegal ones, but R&D. I think the Gates foundation has it right when they say that supporting the development of new drugs is key, and one of the few places where throwing money at a problem actually helps.

September 29, 2005

What about pay off third world debt?

Or create free top-notch technical schools in developing countries? Abramovich Technical Institutes (ATI) has a nice ring. Im sure they would actually become profitable once the alumni money started flowing back.

September 29, 2005

Paying off third world debt is not the way to help. In most countries underlying constraints and factors are causing the terrible growth performances - not debt overhang. That would only be a temporary fix.

Im partial to the idea of increased education and research - that or buying all of Formula 1 (and bring it back to what it once was).

Matt B.
September 29, 2005

How about buy Man U and make sure that they drop out of the premiership? Ok, well if not that, then I'm partical to developing new energy technologies - cold fusion?