October 1, 2022

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Roman Abramovich’s $120M Riviera mansion seized by French authorities

3 min read

French authorities have reportedly seized an $120 million mansion belonging to Russian oligarch Roman Abramovich.

The historic home — located on the ritzy Riviera — was previously leased by King Edward VIII after he abdicated the British throne to marry divorcée Wallis Simpson.

The property is one of 12 French residences owned by Abramovich across the country — all of which have been seized in the past few weeks, the Daily Mail reported.

French authorities have reportedly seized Château de la Croë — a $120 million mansion belonging to Russian oligarch Roman Abramovich.
French authorities have reportedly seized Château de la Croë — an $120 million mansion belonging to Russian oligarch Roman Abramovich.
Gamma-Rapho via Getty Images

French officials are currently cracking down on the activities of wealthy Russians in their country in order to pressure Russian President Vladimir Putin to withdraw from the war in Ukraine. Abramovich, who has a net worth of $8.3 billion, is a Kremlin confidante with close ties to Putin.

While Abramovich is sure to be devastated by the seizure of the dozen properties, the home on the French Riviera is said to be particularly important to the oligarch.

He purchased the home — known as Château de la Croë — back in 2001 before spending close to $40 million on renovations.

The imposing front gates of Château de la Croë are pictured. The property is said to be a personal favorite of Abramovich.
TASS via ZUMA
Abramovich has owned the eight bedroom, 12 bathroom estate for 21 years.
Abramovich has owned the 12-bedroom, eight-bathroom estate for 21 years.
Gamma-Rapho via Getty Images
Château de la Croë was leased by King Edward VIII and Wallis Simpson, who hosted Winston Churchill at the estate. The trio are pictured there in 1948.
Château de la Croë was leased by King Edward VIII and Wallis Simpson, who hosted Winston Churchill at the estate. The trio is pictured there in 1948.
Gamma-Keystone via Getty Images

The billionaire businessman added a rooftop swimming pool, a gigantic gym and a home cinema to the mansion, which was first built back in 1926.

Château de la Croë — which boasts 12 bedrooms and eight bathrooms — is set on 12 acres of lavish land just feet from the Mediterranean Sea. 

King Edward VIII began leasing the home in 1938, less than two years after he abdicated the British throne.

The royal used the residence as a vacation home with his wife Wallis Simpson, where they hosted some of the world’s most powerful people.

Former British Prime Minister Winston Churchill and wife, Clementine, celebrated their 40th wedding anniversary at Château de la Croë in 1948.

The home is set on 12 acres and sits aside the Mediterranean Sea.
The home is set on 12 acres and sits aside the Mediterranean Sea.
TASS via ZUMA

According to the Daily Mail, French authorities have seized and frozen a total of 33 properties from Russians since Putin ordered an invasion of Ukraine back in February.

“Freezing property assets mean they cannot be sold or used for rental income,” a source stated, saying they hope the move helps Russian oligarchs pressure Putin into ending the war.

“It is all part of the program of sanctions being brought against the Russian Federation in response to its invasion of Ukraine,” the source added.

French authorities are also purportedly seizing superyachts and helicopters from the wealthy Russians. The value of assets seized currently totals more than $27 billion.

Abramovich (pictured in Israel last month) has purportedly had all 12 of his French properties seized by authorities.
Abramovich — pictured in Israel last month — purportedly had 12 of his French properties seized by authorities.
REUTERS

The news comes after Page Six reported that Abramovich has been begging his Hollywood and US powerbroker friends to each lend him $1 million to keep him afloat as his assets are frozen worldwide.

The oligarch’s bank accounts have been frozen in the US, as well as in the UK, where he owns Chelsea Football Club. Last month, the English Premier League ordered Abramovich to stop running Chelsea and sell it after he was sanctioned by the British government.

Abramovich was spotted at an airport in Israel last month, but his current whereabouts have not been confirmed.

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