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Russian billionaire, Alisher Usmanov, who counts a 30% stake in Arsenal FC among his portfolio of investments has spent $100m on Apple stock, according to Bloomberg.

The Uzbek-born oligarch, said to be Russia’s richest man, with a fortune in excess of $18bn, made a 10-fold return on an investment in Facebook and is confident that he’ll profit from his most recent outlay.

‘I believe in the future of this company even after Steve Jobs,’ said Usmanov in an interview with Bloomberg. ‘When the company lost $100 billion of its market value, it was a good time to buy its shares, as the capitalization should rebound.’

The Russian business magnate’s vote of confidence in Apple will be a welcome boost for CEO Tim Cook, who has had to endure a 40% drop in the value of the company in the space of six months.

Usmanov’s investment may also have been prompted by Apple’s recently-announced plan to significantly increase the amount it will return to shareholders over the next few years. ‘For the next three years I believe Apple is a very promising investment, especially given large dividend payments and buybacks,’ he told Bloomberg.

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