Who is Oleg Deripaska?

Internet rumours are rife a Russian billionaire may take over Albion. But just who is Oleg Deripaska? Elizabeth Joyce reports.

With a $28 billion bank balance, he's the only man in Russia who can give Roman Abramovich a run for his money.

But will Oleg Deripaska be following in his fellow countryman's footsteps and snapping up a Premiership club on our own doorstep?

It is no secret the tycoon is keen to move into the footballing world and his potential takeover of newly-for-sale West Bromwich Albion is the talk of the internet chatrooms.

But who is the softly-spoken billionaire who could soon be at the helm at The Hawthorns?

Born in the city of Dzerzhinsk near Moscow, the 40-year-old built his empire with a series of ruthless and elaborate takeovers.

Today, he is in control of the world's largest aluminium producer Rusal and his holdings give him almost total control of Russia's metals sector.

Deripaska's dramatic ascent to the top of one of the world's toughest industries resulted in him becoming Russia's youngest-ever billionaire.

Now based in London, he once flew to the city every week by private jet just to improve his English. His £25 million home in the capital is in the exclusive Belgrave Square and was once the residence of the Dukes of Bedford.

Whether fact or fiction, the links with West Brom follow on from reports two years ago that he wanted to buy Arsenal for £350 million.

The rumours, which are spreading around the internet like wildfire, are sure to have Baggies fans rubbing their hands together with glee with dreams of a Chelsea-esque transformation.

Express & Star Albion blogger Jarrod Hill said: "This rumour made me nearly fall of my chair. If true, the club could be moving in a new direction.

"But let's take a look at the likelihood of it happening. If he has that kind of wealth, the fact is he could buy whichever club takes his fancy and being London-based he has quite a few clubs to choose from that would be closer to home.

"However, under Jeremy Peace the club has been run on a sound financial footing and represents something that is rare in today's world of football – a club with no debt.

"We are also a Premiership club and again one of few clubs who do not have a financial benefactor bank rolling success; he may also recognise the potential and rich history of a club currently on an upward spiral."

He added: "Although this rumour has got me all hot under the collar, I cannot see it happening.

"We are not perceived as a glamour club by any stretch of the imagination, we are not based in London and there are many other clubs that would probably hold greater appeal to someone wanting to play fantasy football with an open cheque book."

Since we broke the news of Albion, worth an estimated £50million, being on the market, the Express & Star's website has been flooded with posts linking the businessman to the Baggies.

Andy posted: "Deripaska has been exploring the possibility of buying Albion for some time. I know this as I work for the financial editor of the New York Times, who interviewed him and his advisors in London not too long ago.

"Judging by the interest he and his people showed when discussing sporting and football ventures, I wouldn't be surprised is this turns out to be true."

According to the Forbes rich list, Deripaska, who is also sole owner of the Basic Element investment firm, is £2billion better off than his close friend Abramovich.

He said recently: "There is a Russian saying that money does not like attention and I don't see why one should count other people's money.

"The only thing that has changed since the claim that I am Russia's richest man is that my people now tell me that everything appears to have become more expensive for Basic Element."

Albion fans can also rest assured, if the takeover talks are true, Deripaska will put his all into the club. He confessed recently to working 16 hours every day, spending most of his time on planes as he jets from meeting to meeting across the world.

Founded 11 years ago, Basic Element now holds assets in timber, mining, manufacturing, financial services, construction and aviation, and owns or co-owns companies that employ some 300,000 people on five continents.

Less than two years ago, Deripaska bought Birmingham van manufacturer LDV but, rather worryingly for football fans, said he had no plans to expand further in Britain.

Before studying quantum physics at university, the businessman stayed with his grandparents living off the land, milking the family's cows and fetching water from the well.

When his grandparents died, the state seized their home as part of a programme of breaking up Cossack settlements.

When the Soviet Union and new opportunities opened up, Deripaska's rags-to-riches story began when he joined a metals exchange as a trader.

He said: "I'm always asked the question, how did I do it? The answer? A lot of hard work."