Freedom Holding Corp. surpasses Kazatomprom in market capitalization

Freedom Holding Corp. (FRHC), owned by Kazakhstani billionaire Timur Turlov, reported a 2.56% increase in its share price (+$4.19), reaching $167.80 per share during a trading session on Nasdaq on May 14. Since the beginning of the year, the company’s shares have gained over 25%, and its market capitalization has surpassed $10 billion.

As a result, the holding’s value has exceeded that of Kazatomprom, the world’s largest uranium producer, which has a market cap of $9.4 billion.

Over the past five trading sessions alone, FRHC’s shares have risen by 10.89%. In a five-year period, the holding’s share price has increased tenfold (+979.6%), a dynamic quite comparable to Bitcoin’s performance over the same period (+1,238.6%). Notably, the S&P 500, tracking the stock performance of 500 leading companies in the U.S., has shown just a twofold increase (+105.78%).

Amid the FRHC rally, Timur Turlov’s net worth reached $7.2 billion, allowing him to move from second to first place on the list of the richest Kazakhstanis, surpassing Vyacheslav Kim, co-founder of Kaspi.kz, with a fortune of $7.1 billion.

In the third quarter of the 2025 fiscal year (Q4 of the year 2024), FRHC increased revenue by 57% to $236.6 million. The company’s net income totaled $78.1 million at the time.

In Kazakhstan, FRHC offers brokerage services under the Freedom Broker brand (a member of the Kazakhstan Stock Exchange) and Freedom Finance Global (registered with the Astana International Exchange). On top of that, the holding operates a number of subsidiaries across Kazakhstan, including Freedom Bank, Freedom Insurance and Freedom Life.