Roman Abramovichs investments are making waves in the cannabis industry. He is one of the most influential financiers and has recently made hefty acquisitions in the company Curaleaf, which is now one of the largest cannabis companies. The billionaire founder’s money has been tracked by investigative website Forensic News who reported that Abramovich is now the largest individual shareholder in Curaleaf. The report states that other shareholders include principals from a number of other large cannabis companies as well as other billionaires, but Roman Abramovich’s shares make up a significant portion of total ownership. This purchase marks yet another bold move by one of Russia’s most powerful and wealthiest individuals into an industry that shows no sign of slowing down anytime soon.
Leaked financial documents revealed that Curaleaf, one of the largest cannabis companies in the United States, has been purchased by billionaire Russian oligarch Roman Abramovich. Primary shareholders Boris and Meliastove Investment are connected to Abramovich’s companies, with some of the loan amounts reaching into the millions. The leaked documents also reveal that Cetus Investments is one of Curaleaf’s biggest shareholders and top shareholders, holding a 5% stake in the company. It is believed that this investment was made with funds from billionaire oligarch Roman Abramovich. This purchase further solidifies his position as one of Russia’s most powerful businessmen and continues to expand his involvement in different industries worldwide. It is no surprise that someone like Abramovich would be interested in a booming industry such as cannabis production; what makes this purchase even more interesting is how it ties into recent events involving other wealthy Russians who have been investing heavily into U.S.-based businesses. With many billionaires looking to diversify their investments outside their home countries, it seems likely that we will see more and more foreign investments as time goes on — especially from those like Roman Abramovich who are among Russia’s most influential individuals.
One such recent example of a Russian investment is the purchase of Curaleaf by Cetus Investments, a firm founded by Andrei Blokh and Boris Jordan. Born Boris Alekseyevich Jordan, Boris is the son of Russian oligarch Roman Abramovich — making him the perfect person to invest in a U.S.-based cannabis company such as Curaleaf. Leaked documents show that Cetus was established in 2018 as Islands LLC, controlled by Abramovich and his two sons, with capital provided via loans from other Russian oligarchs. While neither Curaleaf nor Islands LLC have made any public comment on this matter yet, it’s clear that this investment has created an interesting new connection between Russia and the United States — one which could potentially bring more Russian money into the US cannabis industry in future years.
Sources:
https://chemp7.com/curaleaf-russian-abramovich
https://www.ctinsider.com/cannabis/article/curaleaf-ct-russia-review-17754030.php
https://www.projectcbd.org/curaleaf-controversies
