The Russian oligarch, 50, who is worth £7billion, and his magazine editor wife Dasha Zhukova, 36, have 'amicably' agreed to part ways, but will continue to work together for their joint businesses and two children.
It comes one week after Abramovich, 50, attended a social event in St Petersburg without Zhukova, as locals took selfies with the billionaire. And just a few months ago, the 36-year-old was spotted on a quiet dinner with boyfriend of supermodel Karlie Kloss - Joshua Kushner.
It is not clear at this stage if they have a prenuptial agreement. The daughter of Russian oil magnate Alexander Zhukov, she is extremely wealthy in her own right.
Abramovich's divorce settlement of £150million with his second wife Irina Vyacheslavovna Malandina in 2007 was the fourth largest break-up bill in the world at the time.
And experts believe he will try to get the divorce settled in Russia to minimise his payout of assets, which includes luxury mansions, yachts and supercars.
While Abramovich has been spotted looking downbeat at recent events, art dealer Daria has been seen giggling and laughing at a series of high-profile receptions in pictures posted online.