Arsenal shareholder Alisher Usmanov loses £518m... whilst billionaire Chelsea owner Roman Abramovich loses £288m this week as a result of Russia's financial crisis.

Arsenal shareholder Alisher Usmanov and Chelsea owner Roman Abramovich have both been hit hard by the crumbling of Russia's rouble this week.

With the Russian economy in crisis, both billionaires have lost huge sums as the value of their currency dwindles.

According to research by Vanity Fair using Bloomberg's Billionaires Index, Usmanov has lost a massive £518million in the last 48 hours.

And Chelsea owner Abramovich has also lost £288.28m as a result of the financial meltdown.

The value of the Russian rouble has fallen dramatically this week and has lost around 60 per cent of its value since January.

The country's central bank responded by raising the short-term interest rate from 10.5 per cent to 17 per cent, the biggest interest rate hike since 1998.

The current exchange rate between the Russian rouble and British pound is 95.16 roubles to £1.