Despite having a rough year financially, Russian billionaire Roman Abramovich is still buying up property.

The Wall Street Journal reports that he has bought a piece of the Caribbean with a $90 million estate in St. Bart's which earlier belonged to Jeet Singh, co-founder of ATG, the Cambridge, Mass., maker of Web software.

The 70-acre Governor beach estate boasts fabulous ocean views, a tennis court and swimming pool, which is a signature of all of St. Bart's. Balinese bungalows.

"The property is one of the most expensive private homes ever sold, but for the oligarch it will be just one of many spectacular possessions, which also include the world's largest privately owned yacht, a Colorado ski estate, England's Chelsea soccer team and a contemporary art collection valued at more than $100 million."

Roman Abramovich has lost more than half his fortune in the past year, which made him slip down to #51 spot on the prestigious Forbes World's Billionaires 2009 list, with "only" US$8.5-billion (down from $19B in 2008).

But that has not stopped him from spreading his empire : His "latest project is to merge eight apartments into one huge home in Lowndes Square, Knightsbridge".

"With properties in the district sometimes selling for as much as £4,000 (about $6,600) a square foot, the house, once completed, could be worth as much as £120 million, some experts say"

Source: Wall Street Journal - Bornrich

Photos : Dailymail / Splash