Latest wealth ranking of Kazakhstan's top entrepreneurs unveiled
Here's the lowdown on Kazakhstan's wealthiest entrepreneurs:
The latest Forbes ranking puts Vyacheslav Kim back on top with a massive fortune of $7.1 billion. Timur Turlov, however, has stolen the spotlight with a whopping $2.6 billion increase, making him the second wealthiest in the country with a net worth of $5.8 billion.
Vyacheslav has his fingers in a variety of pies, including a substantial stake in AO "Kaspi.kz" and ownership of AO "Alseko" and other related companies. Interestingly, he's eyeing a significant share of AO "Jusan Bank" from Galymzhan Esenov.
Meanwhile, the ever-charming Timur Turlov, the young gun of the bunch, chairs Freedom Holding Corp. and Freedom Finance, among other ventures. His net worth saw a record surge, jumping from $3.3 billion last year to its current $5.8 billion.
Coming in third is Vladimir Kim, a guy who's been mining some serious minerals. His wealth has risen to $5.7 billion, thanks in part to his 63.5% ownership of KAZ Minerals Ltd. The man's also got a thick stake in Kazakhmys Holding Limited and a good chunk of RBK Bank.
Timur Kulibayev and his missus, Dinara Kulibayeva, share the fourth and fifth spots, each with a net worth of $5.3 billion. The Kulibaevs have their fingers in numerous pies, with interests in real estate, oil, and finance. It's worth mentioning that Dinara no longer owns the Kazakhstan-British Technical University.
The sixth spot goes to Bulat Utemuratov, a man with a diversified portfolio. He controls ForteBank and several other businesses, including Ritz-Carlton hotels, Rixos Borovoe, and the Global Development company. Utemuratov also invested in the Mareterra district in Monaco.
The Ibraimov family holds the seventh position with a combined net worth of $2.06 billion, courtesy of their majority ownership of Eurasian Resources Group and various other ventures.
Nurlan Smagulov is the eighth wealthiest with $990 million, thanks to Astana Group and its affiliated companies. The group is involved in automotive sales, production, and technology, as well as the development of shopping centers and art museums.
The Sarsenov family takes the ninth spot with $980 million, with interests in Nurbank, Helios gas stations, and gold mining companies.
Rounding out the top ten is Aydyn Rakhimbayev with a net worth of $967 million, primarily due to hisholdings in the construction powerhouse, BI Group.
The list expanded to 75 from 50 this year, with several newcomers joining the ranks. Among them is Andrey Lavrentyev, a well-known businessman in Kazakhstan, who debuted at the 12th spot this year.
On average, the participants' wealth grew from $622 million to $767 million, and the total capital of the Kazakhstani participants skyrocketed from $46.6 billion to $57.5 billion.
You can find the entire list of the 75 wealthiest businessmen in Kazakhstan on Forbes.kz. It's worth noting that, according to a recent Forbes magazine update, six Kazakhs were wealthier than US President Trump.
Sources:1. Forbes.kz2. Bloomberg3. Reuters4. Kazakhstan Channel5. Tengrinews.kz
Vyacheslav Kim and Timur Turlov's wealth primarily stems from their involvements in finance, investing, and business, with Vyacheslav's assets including AO "Kaspi.kz", AO "Alseko", and AO "Jusan Bank", while Timur chairs Freedom Holding Corp. and Freedom Finance.
Bulat Utemuratov, the sixth wealthiest, has a diversified portfolio that includes investments in Ritz-Carlton hotels, Rixos Borovoe, and the Global Development company, with additional investments in the Mareterra district in Monaco.
