Timur Turlov’s spending on chess support in Kazakhstan reaches $11 million

According to the annual financial report of Freedom Holding Corp. for the 2025 fiscal year, the company spent $11.2 million to support the Kazakhstan Chess Federation (KazChess).

«The Kazakhstan Chess Federation is an organization in which Timur Turlov holds the leading position. The group continues to support the development of chess as a sport in Kazakhstan,» the holding said in the report.

All of these funds were spent on supporting chess championships, tournaments, training camps and other events related to the development of chess in the country.

According to the results for the 2025 fiscal year, the holding’s revenue amounted to $2.1 billion — an increase of $384.2 million (+23%), while its net profit reached $84.5 million ($1.43 per share). Assets grew by 19% to $9.9 billion, and liabilities by 22% to $8.7 billion. Commission income increased by 15% to $505 million, while derivatives income rose by 112% to $12.4 million. The number of brokerage accounts reached 683,000 (+153,000), insurance service clients totaled 1.2 million (+636,000) and banking service users reached 2.5 million (+1.6 million). In addition, the Freedom SuperApp was downloaded 2.3 million times.

Since the beginning of 2025, the company’s share price has grown by more than 25%, with market capitalization exceeding $10 billion. This helped the holding’s market cap surpass that of Kazatomprom, the world’s largest natural uranium producer, by 6.4% (about $9.4 billion).

As a result, Timur Turlov overtook Vyacheslav Kim, the co-owner of Kaspi.kz, as the richest person in Kazakhstan, according to Forbes.