Kazakhstani billionaires lose $1.4 billion
Forbes Kazakhstan has published its annual rating of the 50 richest businessmen in Kazakhstan. Even though all participants of the ranking except for Vladimir Kim and Bulat Utemuratov reported an increase in wealth, their combined fortune dropped by $1.4 billion.
The total wealth of Kazakhstani businessmen decreased from $25.3 billion to $23.9 billion due to Forbes’s decision to count Mikhail Lomtadze as a Georgian businessman (Lomtadze possesses Georgian nationality), even though he’s made his $3.8 billion fortune in Kazakhstan.
The average age for Kazakhstani billionaires is 53. The youngest mogul is Timur Turlov, who is 35. The oldest is Yakov Tskhai, at 72. The ranking also includes two women: Dinara Kulibayeva (3rd place with $4.3 billion) and Dariga Nazarbayeva (14th place with $590 million). Both of them are daughters of Ex-President Nursultan Nazarbayev.
Each participant in the ranking has a fortune of $769 million on average. The same rate was $774 million in 2022. The combined wealth of 50 billionaires from the ranking is $38.4 billion. For comparison, Giovanni Ferrero, owner and CEO of Ferrero (controls brands such as Nutella, Kinder and Tic Tac) has a fortune of $38.9 billion (30th place in the global ranking).
Seven businessmen in Kazakhstan account for $23.9 billion in combined wealth: Vladimir Kim, Timur and Dinara Kulibayev, Vyacheslav Kim, Timur Turlov, Bulat Utemuratov and the Ibragimov family. Turlov, who received Kazakhstan nationality last year, is ranked 5th. His fortune increased by $900 million to $3.1 billion.
Vladimir Kim is ranked first among the rich in Kazakhstan with $4.6 billion, although his net wealth declined by $400 million. In terms of the global rich, he is number 609, as of May 11, 2023. Kim controls 63.5% shares of KAZ Minerals, 70% shares of Kazakhmys Copper and 89.71% shares of RBK Bank.
Timur and Dinara hold the second and third positions with $4.3 billion. The couple managed to increase their fortune by $400 million on a YoY basis. In Real Time Billionaires, they hold the 621st position as of May 11, 2023. Timur Kulibayev controls stakes in Emdeu Group, Caspi Neft, Shubarkol Premium, PetroRetail, Viled Group and Kamkor Management through Kipros Holding. The businessman also owns Prime Aviation, a private airline, and the Kazakhstan Aviation Industry Ltd. The Kulibayev couple controls a 69.52% share in Halyk Bank through Holding Group Almex.
Vyacheslav Kim, a major shareholder of Kaspi, is ranked 4th with a fortune of $3.6 billion (+$400 million). In Real Time Billionaires, he is ranked 747.
In 2023, Timur Turlov is ranked fifth with a fortune of $3.1 billion (+$900 million). Last year, he was ranked 7th. The businessman has a controlling stake in Freedom Holding, a company registered in the U.S. In Kazakhstan, this company operates through its subsidiary Freedom Finance.
Bulat Utemuratov reported a $100 million decline in his fortune ($2.7 billion). He controls 81.82% shares of ForteBank and owns Ritz-Carlton hotels in Astana, Vienna and Moscow, as well as Rixos Borovoe in the Akmola region. Utemuratov also has stakes in media outlets such as Informburo.kz, 31 Channel (80%) and Video International Kazakhstan (50%).
In April, Forbes presented its Richest People in The World, the list of 150 richest people with a combined fortune of $344 billion. The ranking includes six Kazakhstanis: Vladimir Kim, Timur and Dinara Kulibayev, Timur Turlov and Bulat Utemuratov.
