How did Suleiman Kerimov get so rich? [Net Worth 2023]

Suleiman Kerimov, a Russian businessman and politician, rose to prominence through a combination of investments, economic endeavors, and clever financial movements. The following are some of the major factors that contributed to his wealth:

1. Natural Resource Investment: Kerimov made substantial investments in Russia’s natural resource sector, particularly in mining and metals. He purchased stock in enterprises involved in gold, silver, copper, and potash. These investments enabled him to profit from expanding global commodity demand.
2. Privatization of State Assets: Like many other Russian oligarchs, Kerimov benefited from state-owned asset privatization in the 1990s. During this time, state-owned firms were auctioned off at low prices, and well-connected individuals like Kerimov bought them, typically through complex ownership structures.
3. Diversified Investment Portfolio: Kerimov’s interests were not limited to a single industry. He diversified his wealth by investing in a variety of industries such as banking, technology, and real estate. This diversification reduced risk and enabled him to capitalize on opportunities in several sectors of the economy.
4. Successful Trading Strategies: Kerimov was well-known in the financial markets for his trading abilities. He allegedly made a lot of money via currency and stock trading. His ability to make profitable and timely deals contributed to his wealth.
5. Political Links: Kerimov represented the Republic of Dagestan in the Federation Council, the Russian parliament’s upper house. His political connections most certainly contributed to his economic success as well as access to government resources and contracts.
6. International Investments: Outside of Russia, Kerimov made investments, primarily in Europe and the United States. These worldwide investments enabled him to diversify his holdings and capitalize on global economic opportunities.
7. Debt Leverage: Kerimov, like many other successful businessmen, employed debt leverage to finance his investments. Borrowing money to invest in assets that increased in value enabled him to multiply his gains.

Lesser-Known facts about Suleiman Kerimov

Suleiman Kerimov has had an intriguing and somewhat contentious career, while not being as well-known as some other prominent personalities. Here are some of his lesser-known facts:

1. Early Childhood and Education: Suleiman Kerimov was born in the Soviet Union on March 12, 1966, in Derbent, Dagestan. He earned a degree in financial accounting from Dagestan State University.
2. First Career: Kerimov worked as an economist and accountant in Dagestan before entering the world of finance and business. In comparison to his later prominence, his early career was rather modest.
3. Rise in commercial: Kerimov’s commercial career began in the early 1990s, when he began investing in the privatization of state-owned businesses during Russia’s turbulent period of economic reforms.
4. Participation in Dagestani Politics: Kerimov was also involved in politics, representing Dagestan in the Federation Council, the upper house of the Russian parliament, from 2008 to 2019.
5. Ownership of Sports: Kerimov was well-known for his passion for sports and had possessed a large investment in the French football team AS Monaco. His ownership of the team sparked international interest.
6. Difficulties: Kerimov encountered various issues throughout his career, including claims of insider trading and clashes with French tax authorities. He was arrested at Nice Airport in France in 2006 and afterwards charged with tax evasion.
7. Charitable giving: Kerimov was active in a variety of humanitarian endeavors, which were not generally known. He supported activities in his home country of Dagestan, such as educational and healthcare programs.
8. Changes in Net Worth: Suleiman Kerimov’s net worth has been known to change dramatically as a result of his investments, particularly in commodities and financial markets. His wealth could fluctuate dramatically depending on market conditions.
9. Low Public Visibility: Unlike several other Russian oligarchs, Kerimov kept a modest public profile. He gave few interviews and made few public pronouncements, which added to his mystique.
10. Health Concerns: Kerimov survived an automobile accident in France in 2006 that temporarily put him in a coma. This incident contributed to his reclusiveness and avoidance of public scrutiny.

What companies does Suleiman Kerimov own?

Suleiman Kerimov was involved in a variety of businesses and investments, however particular ownership details may have changed over time owing to market dynamics, divestitures, or acquisitions. Here are some of the companies and assets with which he has been associated:

1. Polyus Gold: Kerimov owned a big portion of Polyus Gold, one of Russia’s largest gold mining enterprises. His interests in the gold mining industry were significant.
2. Uralkali: He was a big shareholder in Uralkali, one of the world’s largest producers of potash fertilizer. His engagement with Uralkali aided his fortune and business operations.
3. AS Monaco: For a while, Kerimov held a significant ownership in the French football team AS Monaco. The ownership structure of sports clubs, on the other hand, might alter throughout time.
4. Finance and technology investments: He was well-known for his diverse investment portfolio, which includes holdings in industries such as finance and technology. The particulars of these investments may change over time.
5. Real Estate and Development: Kerimov, like many wealthy people, most likely had assets in real estate and property development projects. The location and scale of these investments may vary.

What is net worth of Suleiman Kerimov?

Kerimov’s net worth is around $8.02 billion.

What philanthropic initiatives is Suleiman Kerimov involved in?

Among the charity efforts with which he has been involved are:

1. Educational Assistance: Kerimov is said to have funded educational projects and initiatives in Dagestan. Scholarships, school infrastructure renovations, and educational activities may all be part of this assistance.
2. Medical Care: He has been involved in healthcare-related philanthropy, helping to enhance medical facilities and services in Dagestan and possibly other locations.
3. Charitable Trusts: Kerimov, like many affluent people, may have formed or contributed to charity organizations that support a variety of causes such as education, healthcare, and social welfare.
4. Development of the Community: Kerimov may have invested in community development, infrastructure, and social services initiatives in Dagestan and other locations where he had economic interests.

What are some real stories of Suleiman Kerimov leadership?

Suleiman Kerimov’s leadership and commercial activities have been distinguished by secrecy, and he has kept a low public profile in comparison to several other notable personalities. Nonetheless, there are a few true stories and important events associated with his leadership and commercial ventures:

1. Ownership of AS Monaco: Kerimov’s ownership position in the French football club AS Monaco was one of the most visible features of his leadership. Under his ownership, the club made considerable investments in top-tier players and coaching personnel, resulting in a resurgence in Ligue 1 fortunes. However, his ownership was not without difficulties, including financial investigation from French authorities.
2. Diversified Investments Kerimov’s leadership was distinguished by a diversified portfolio of assets in businesses ranging from natural resources to finance, technology, and real estate. His ability to coordinate and lead these disparate interests contributed to his business success.
3. Market Volatility: Kerimov, like many successful investors, went through times of tremendous capital gain as well as market losses. His ability to navigate these changes displayed his financial and investment leadership.
4. Political Representation: Kerimov’s political leadership extended to the Federation Council of the Russian Parliament, where he represented the Republic of Dagestan. This political position enabled him to advocate for regional interests and participate in legislative issues.
5. Difficulties: Kerimov’s administration was not without controversy. He faced legal problems and investigations, mainly in France, for tax evasion and insider trading claims. These issues illuminated some of the intricacies of his leadership style and corporate operations.
6. Philanthropy and Community Participation: While it has not been publicly reported, Kerimov has been involved in philanthropic and community building activities in Dagestan and possibly other locations. As part of his leadership, he made these attempts to exhibit a sense of social responsibility.

What are some controversies is Suleiman Kerimov involved in?

Throughout his career, Suleiman Kerimov has been embroiled in a number of issues. Among the notable controversies are:

1. French Tax Evasion Charges: Kerimov’s arrest in Nice, France, in 2017 on suspicion of tax cheating was one of the most major issues affecting him. Authorities in France accused him of concealing the true value of his assets in the acquisition of luxury residences on the French Riviera. The case highlighted the issue of affluent individuals utilizing offshore structures to avoid paying taxes.
2. Accusations of Insider Trading: Kerimov has been accused of insider trading in connection with his investments in various companies. He was charged with insider trading in connection with his stake in Uralkali, one of the world’s major potash manufacturers, for example. These allegations sparked legal battles and investigations across the country.
3. Control of AS Monaco: His ownership of the French football club AS Monaco was tainted. Concerns were raised regarding the club’s finances, particularly allegations of excessive expenditure on player transfers and salaries, prompting French authorities to conduct an investigation.
4. Conflict with Daghestani Authorities: Kerimov had problematic interactions with local authorities in Dagestan, Russia’s territory where he was politically involved, at times. Disputes arose over a variety of issues, including property ownership and economic development projects.
5. High-Profile Automobile Accident: Kerimov was engaged in a major vehicle accident in France in 2006, which put him in a coma for a time. The accident’s circumstances were the topic of research and discussion.
6. Complicated Ownership Structures: Kerimov was well-known for managing his assets through complex ownership structures and offshore corporations. While these complicated arrangements were lawful, they frequently generated concerns about transparency and accountability.

What can you learn from Suleiman Kerimov?

There are various lessons and insights can be drawn from Suleiman Kerimov’s life and career:

1. Investment Diversification: Kerimov’s success can be ascribed in part to his diverse investment portfolio. He delved into a variety of industries, distributing risk and capitalizing on opportunities in multiple industries. This diversification method can teach you how to reduce risk in your financial portfolio.
2. Financial Intelligence: His ability to flourish in financial markets, particularly currency and stock trading, emphasizes the need of financial awareness and competence in investment management. Anyone interested in accumulating wealth might benefit from learning about financial markets and investment ideas.
3. The Importance of Political Links: Kerimov’s political career and Russian Federation connections aided his economic success. His experience highlights the importance of understanding the political landscape and exploiting political ties while conducting business in difficult circumstances.
4. Managing Controversies: Despite legal and financial difficulties, Kerimov remained active in business and politics. When coping with obstacles and conflicts, this resilience emphasizes the need of competent crisis management, legal strategy, and reputation management.
5. Charitable Initiatives: Kerimov’s commitment in philanthropy and community development in Dagestan, while not publicly known, implies a sense of social responsibility. This serves as a reminder of the great impact that successful people may have on their communities through philanthropic giving.
6. Sophisticated Ownership Structures: Kerimov’s use of sophisticated ownership structures emphasizes the need of knowing financial and legal processes while managing wealth and assets. It emphasizes the importance of transparency and adherence to legal requirements.
7. Maintaining a Private and Public Profile: Kerimov kept a modest public profile, preferring to keep many details of his business and personal life private. Although this technique has certain advantages in terms of privacy and security, it also has some drawbacks in terms of public perception and reputation management.
8. Global Investment Possibilities: His worldwide investments show that individuals can look for investment opportunities outside of their native countries. Geographic diversification can assist individuals in capitalizing on global economic trends and opportunities.