Usmanov has been nominated to stand for a fourth term by the Russian Fencing Federation (FFR), as reported by Russia’s official state news agency TASS.

FFR President Alexander Mikhailov confirmed Usmanov had been put forward to run again in next month's Presidential election.

The deadline for nominations was yesterday with the FIE Elective Congress scheduled to take place on November 27 in Swiss city Lausanne.

The FIE has yet to confirm who else is standing in the elections as Usmanov looks to extend his 13-year reign as President.

Russian capital Moscow had been due to stage the Elective Congress in November last year only for it to be cancelled because of the coronavirus pandemic.

Usmanov, whose personal fortune is estimated by Forbes to be nearly $12 billion (£9 billion/€10 billion), was first elected in 2008 when he beat the incumbent René Roch, of France, by 66 votes to 61.

The 68-year-old was re-elected in 2012 and 2016.

Since assuming power, Usmanov has donated around CHF80 million (£62 million/$86 million/€73 million) over the course of three Olympic cycles to 2020, insidethegames previously calculated.

Last year, Usmanov paid $8,806,500 (£6,764,543/€7,916,191) to buy the historic manuscript in which Baron Pierre de Coubertin laid out plans to revive the Olympic Games, and has since donated the artefact to the Olympic Museum in Lausanne.

Outside of the Olympic Movement, Usmanov has ties to Premier League football club Everton as USM - a holding company founded by Usmanov - holds the naming rights to Everton's new stadium once built.

USM chairman Farhad Moshiri is the majority owner of Everton.

Earlier this year, Usmanov - who built much of his wealth through mining and metals - been named on a list of individuals jailed Russian politician Alexei Navalny wants Western Governments to sanction.

Usmanov is described as "one of the key enablers and beneficiaries of Russian kleptocracy, with significant ties and assets in the West" by Vladimir Ashurkov - an ally of Navalny.