Suleiman Kerimov – Net worth $11.8 billion

Suleiman Kerimov is a Russian oligarch and billionaire with a net worth of $11.8 billion.

Most of his wealth is derived from his 76% stake in Russia’s biggest producer of gold, Polyus. He was born in Russia in1966. He was the owner of the superyacht ICE.

BUSINESS

Kerimov is a trained economist who has made a career by investing in distressed companies throughout Russia. 

His investments were numerous and included companies like Polymetal, Gazprom, Sberbank, and Nafta Moskva. He sold all of these investments in 2008. 

He invested in banks such as Morgan Stanley and Goldman Sachs. He cashed out heavily and made these investments shortly before the 2008 financial crash.

The billionaire lost his billions. He made his finances come back by investing in Polyrus and betting on the company. In 2011, he acquired a controlling stake in Uralkali.

POLITICS

Kerimov has close ties to Vladimir Putin’s government and is also close to the Chechen leader Ramzan Kadyrov. The billionaire entered politics in the 1990s.

Since 2008, he has represented the Republic of Dagestan in the Federation Council of Russia.

In 2018, he was sanctioned by the US Treasury Department. The invasion of Ukraine by Russia in early 2022 led to a wave of Russian oligarchs being sanctioned by the US.

Kerimov was a part of the group sanctioned by the US, UK, and EU because of his close ties to President Putin. As a result, the Kerimov family withdrew from their ties to Polyrus.

Said Kerimov, Kerimov’s son, resigned from the board in April 2022, and the family sold their stake in the company, which was worth a staggering $6.3 billion.

They relinquished their majority shareholder position to Polyrus.

Suleiman Kerimov NET WORTH

Kerimov has a net worth of $11.8 billion, according to Forbes. He was estimated to have a net worth of $21 billion before the financial crash of 2008.

However, he lost all of his funds following the financial crash of 2008. He made a financial recovery thanks to his investment in Polyrus.

Kerimov has several properties, which he owns with his wife. These properties are found all over the world, but their main residence is located at Cote D’Azur.

Kerimov is also said to own the famous Villa Hier, the set of Dirty Rotten Scoundrels, starring Michale Caine and Steve Martin. His main residence is located at Cap D’Antibes.

He was the owner of the yacht ICE from 2005 to 2015, which he has likely sold to Teodoro Obiang Mangue. In early 2022, there were rumors that he was the owner of the superyacht AMADEA, which was seized in April 2022.

PERSONAL

Kerimov has been described as one of the most private Russian billionaires by Forbes and has not given a single interview in over 20 years of business. 

Thanks to his investment style, he has been described as a “Russian Warren Buffet” by Forbes Russia editor Krill Vishnepolsky.

“He is very quick and creative, in a sense that ideas come to him that don’t come to other people,” a Russian banker described Kerimov.

Kerimov is married to their wife, Firuza Kerimov. The couple shares three children.

PHILANTHROPY

Kerimov is an active philanthropist. He has made many donations and established the Suleyman Kerimov Foundation in 2007.

He has donated to constructing many churches and mosques and sent thousands to Mecca every year.