Timur Turlov announces his plan to set up new 5G telecom operator in Kazakhstan
Timur Turlov, who controls Freedom Holding registered in the U.S., announced on Instagram that he is going to set up a new 5G mobile operator in Kazakhstan.
The founder of Freedom Holding Corp. said that he is very interested in the communications market and it is quite possible that «telecom will become the new core of the company’s ecosystem, the standing point that will let us flip the viewpoint on the effectiveness of decisions, speed of the decision-making process, minimization of mistakes, product availability and quality of life».
The businessman highlighted that he is going to launch a completely new 5G mobile operator within a few years. So far, Turlov has already invested about $100 million in a range of startups in Kazakhstan.
«We dare to find a solution for one of the most important problems in our country, not just complain about it. Given that the internet has become one of life’s essentials these days, we want it to be available for everyone all over the country,» Turlov highlighted.
He believes that the construction of a new network must be really cheap in order to make it commercially successful. Moreover, connectivity services shouldn’t be the only way a new company makes its money. This would give a chance to build a healthcare industry, education system and security system of the future, Turlov noted.
The businessman underlined that the holding is aimed at two main tasks: expanding its client base and launching new products, which won’t work without network quality and reliability.
According to Turlov, he’s gone to Shanghai to gain insights from best practices at a telecommunications trade show.
The mogul believes that if a project is started basically from scratch, there will be no need to maintain the old infrastructure and equipment to offset expenses.
«Modern technologies make it possible to develop a business in a much faster and cheaper way,» he said.
In January 2023, Turlov, CEO of Freedom Holding, took over the leadership of the Kazakhstan Chess Federation.
Timur Turlov is the founder and controlling shareholder of the international investment group Freedom Holding Corp. headquartered in Almaty. In 2020, the holding was listed on NASDAQ. In 2022, the company’s capitalization was more than $3 billion. In 2021, Turlov was ranked seventh among the wealthiest people in Kazakhstan with a fortune of $2 billion. In April 2021, Forbes included Turlov in its ranking called The Richest People in the World, estimating his wealth at $2.1 billion.
This year, Turlov is ranked 838th on the global list of billionaires, with a fortune of $3.5 billion, according to Forbes.
Freedom Holding Corp. runs representative offices in Kazakhstan, Russia, Kyrgyzstan, Uzbekistan, Azerbaijan, Ukraine, Germany, Cyprus, the U.K. and the U.S.
