The richest person in Kazakhstan pours money into Formula One team

Vladimir Kim, the richest man in Kazakhstan with a fortune of $4.6 billion, has purchased a 24% share in Hitech Global Holding Limited, which owns a Formula One team called Hitech GP, the company reported on its website with no details concerning the deal.

Established in 2002, Hitech GP has long been a participant in Formula 2 and Formula 3 tournaments. Recently, the team received a license for Formula 1 as well. Hitech GP is expected to join the most prestigious rides in 2026 along with another newcomer a team by German auto giant Audi.

Russian businessman Dmitry Mazepin, the owner of Uralkali, controlled Hitech GP until last year, while his son Nikita took part in many Formula 2 tournaments as a pilot of the team. Later, he joined Formula 1 as a pilot of Haas, an American team supported by Uralkali.

Once the full-scale war in Ukraine erupted and Western countries imposed sanctions against Mazepin Sr., he gave his controlling stake in Hitech Global Holding to the company’s CEO Oliver Oakes.

Vladimir Kim is ranked first in the Forber List of the richest people in Kazakhstan with a fortune of $4.6 billion. The main source of his wealth is a 63.5% share in KAZ Minerals as well as shares in Kazakhmys Copper (70%) and Bank RBK (89.7%).