Suleyman Kerimov
Encyclopedia
Suleyman Abusaidovich Kerimov (Lezgian
, born March 12, 1966 in Derbent
, Dagestan
, USSR
) is a member of the Federation Council
of Russia
, a businessman, an investor and an active philanthropist. He has a degree in financial accounting and economics from Dagestan State University.
From 1999 to 2007, Kerimov served as a Deputy of the State Duma, the lower chamber of the Russian Parliament. He was Deputy Chairman of the Committee on Physical Education, Youth and Sports and also a member of the State Duma’s Security Committee. On Dec. 10, 2007, he became a Member of the Federation Council of the Russian Federation, the upper chamber of the Russian Parliament. He now serves as a member of the Financial Markets and Monetary Circulation Committee.
Kerimov is currently listed as number 118 on Forbes' list of the World’s Billionaires
, with a reported net worth of $7.8 billion.
In 1993, Kerimov helped to establish Fedprombank, which positioned him to finance lagging industries in need of cash. He became a creditor to large utility companies, allowing them to continue to provide key services, and he earned significant returns once the economy stabilized and the debts were repaid.
At the end of 1999, Kerimov acquired Nafta-Moskva, which was established in 1994 as a successor to the Soviet oil trader Soyuzneftexport. He assumed full control over the company in 2000. Kerimov undertook a mass restructuring of the company, selling off all of the oil-related aspects and creating an investment and holding company.
In 2003, Kerimov began investing heavily in blue-chip Russian companies such as Gazprom
and Sberbank
, diversifying later into the investments portfolios consisting of Western financial institutions and industrial companies. Kerimov sold most of those investments in 2008.
In December 2005, Kerimov bought Polymetal
, one of the country's largest gold and silver mines. In 2007, he took the company public on the London Stock Exchange
, and later selling his 70 percent stake in June 2008 to a group of Russian investors.
At the beginning of 2009, Kerimov bought 37% of Polyus Gold
, a large Russian gold producer, from Vladimir Potanin. Currently, Kerimov and Michael Prokhorov together control up to 80% in the company.
In September 2010, potash mining company Uralkali
, in which Kerimov holds a 25 percent stake, was in talks with Chinese chemical maker Sinochem over a possible joint bid for Potash Corp., the world's largest fertilizer producer. However, those negotiations reportedly have stalled due a lawsuit filed in Cyprus.
Also in 2010, Kerimov became involved in an ongoing legal dispute relating to ownership of the Hotel Moskva (Moscow)
project in Russia. As a result of the dispute, in September 2010 the District Court in Nicosia
, Cyprus
imposed a freezing order on a number of Kerimov's Cyprus-based assets. This included his shares in the potash mining company Uralkali
, as well as Polyus Gold. However, the freezing order was reversed in February of 2011, when the same court ruled that the plaintiffs in the case had failed to provide sufficient grounds for maintaining an interim freezing order.
In January 2011, he purchased the Russian Premier League
football team FC Anzhi Makhachkala
.
On November 26, 2006, in Nice, France Kerimov was seriously injured in a road accident on the Promenade des Anglais
. He suffered severe burns from this accident followed by prolonged recovery.
In 2007, Kerimov founded The Suleiman Kerimov Foundation with the vision to help lives by investing in initiatives that strengthen communities and help those in need. The foundation supports projects all over the world, with particular emphasis on Russia and Russian communities. Between its 2007 and 2009, the foundation made donations totaling over $164 million in support of worthwhile projects and causes.
On December 17, 2010, the press reported that Kerimov will spend $100 million on the construction of an advanced comprehensive school west of Moscow
"for educating forward-minded children from different social groups.” The school will include a modern sports complex with a swimming pool, a skating-rink, a giant dance floor, as well as a residential area for gifted children from the provinces.
The Suleiman Kerimov Foundation has directed over $60 million to charitable causes.
Lezgins
The Lezgians are an ethnic group living predominantly in southern Dagestan and northeastern Azerbaijan and who speak the Lezgian language.- Historical concept :While ancient Greek historians, including Herodotus, Strabo, and Pliny the Elder, referred...
, born March 12, 1966 in Derbent
Derbent
Derbent |Lak]]: Чурул, Churul; Persian: دربند; Judæo-Tat: דארבּאנד/Дэрбэнд/Dərbənd) is a city in the Republic of Dagestan, Russia, close to the Azerbaijani border. It is the southernmost city in Russia, and it is the second most important city of Dagestan...
, Dagestan
Dagestan Autonomous Soviet Socialist Republic
The Dagestan Autonomous Soviet Socialist Republic was an autonomous Soviet Socialist Republic in the former Soviet Union. This "Land of Mountains" was known also for having a "mountain of peoples," with more than 30 nationalities or ethnic groups indigenous to the territory...
, USSR
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
) is a member of the Federation Council
Federation Council of Russia
Federation Council of Russia ) is the upper house of the Federal Assembly of Russia , according to the 1993 Constitution of the Russian Federation...
of Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, a businessman, an investor and an active philanthropist. He has a degree in financial accounting and economics from Dagestan State University.
From 1999 to 2007, Kerimov served as a Deputy of the State Duma, the lower chamber of the Russian Parliament. He was Deputy Chairman of the Committee on Physical Education, Youth and Sports and also a member of the State Duma’s Security Committee. On Dec. 10, 2007, he became a Member of the Federation Council of the Russian Federation, the upper chamber of the Russian Parliament. He now serves as a member of the Financial Markets and Monetary Circulation Committee.
Kerimov is currently listed as number 118 on Forbes' list of the World’s Billionaires
Forbes list of billionaires
Forbes list of billionaires is based on an annual assessment of wealth and assets compiled and published by Forbes magazine on March 10, 2011.-Forbes list of billionaires :...
, with a reported net worth of $7.8 billion.
Investments
A self-made investor, Kerimov earned his success by building a diverse investment portfolio made up of both public and private interests.In 1993, Kerimov helped to establish Fedprombank, which positioned him to finance lagging industries in need of cash. He became a creditor to large utility companies, allowing them to continue to provide key services, and he earned significant returns once the economy stabilized and the debts were repaid.
At the end of 1999, Kerimov acquired Nafta-Moskva, which was established in 1994 as a successor to the Soviet oil trader Soyuzneftexport. He assumed full control over the company in 2000. Kerimov undertook a mass restructuring of the company, selling off all of the oil-related aspects and creating an investment and holding company.
In 2003, Kerimov began investing heavily in blue-chip Russian companies such as Gazprom
Gazprom
Open Joint Stock Company Gazprom is the largest extractor of natural gas in the world and the largest Russian company. Its headquarters are in Cheryomushki District, South-Western Administrative Okrug, Moscow...
and Sberbank
Sberbank
Sberbank Rossii is the largest bank in Russia and Eastern Europe. The company's headquarters are in Moscow and its history goes back to Cancrin's financial reform of 1841...
, diversifying later into the investments portfolios consisting of Western financial institutions and industrial companies. Kerimov sold most of those investments in 2008.
In December 2005, Kerimov bought Polymetal
Polymetal
Primarily used in chemistry or mining, polymetal or polymetallic refers to a substance composed of a combination of different metals. When the substance contains only two metals the term bimetal is sometimes preferred .* A polymetallic ore is...
, one of the country's largest gold and silver mines. In 2007, he took the company public on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
, and later selling his 70 percent stake in June 2008 to a group of Russian investors.
At the beginning of 2009, Kerimov bought 37% of Polyus Gold
Polyus Gold
Polyus Gold is a Russian mining and metallurgy company primarily concerned with the production of gold. Polyus is the largest gold producer in Russia. Polyus is controlled by Russian businessman Mikhail Prokhorov's ONEXIM Group conglomerate and Suleiman Kerimov.In 1990 Polyus was restructured as...
, a large Russian gold producer, from Vladimir Potanin. Currently, Kerimov and Michael Prokhorov together control up to 80% in the company.
In September 2010, potash mining company Uralkali
Uralkali
Uralkali is a Russian potash fertilizer company. It is traded on the London Stock Exchange using the symbol, URKA. and its largest shareholder is billionaire Suleyman Kerimov. The company is based in Perm Krai, Russia....
, in which Kerimov holds a 25 percent stake, was in talks with Chinese chemical maker Sinochem over a possible joint bid for Potash Corp., the world's largest fertilizer producer. However, those negotiations reportedly have stalled due a lawsuit filed in Cyprus.
Also in 2010, Kerimov became involved in an ongoing legal dispute relating to ownership of the Hotel Moskva (Moscow)
Hotel Moskva (Moscow)
The Hotel Moskva name has been used for two identical buildings on the same spot in Moscow, Russia located near Red Square in close proximity to the old City Hall. The first Hotel Moskva was originally constructed from 1932 until 1938, it opened as a hotel in December 1935...
project in Russia. As a result of the dispute, in September 2010 the District Court in Nicosia
Nicosia
Nicosia from , known locally as Lefkosia , is the capital and largest city in Cyprus, as well as its main business center. Nicosia is the only divided capital in the world, with the southern and the northern portions divided by a Green Line...
, Cyprus
Cyprus
Cyprus , officially the Republic of Cyprus , is a Eurasian island country, member of the European Union, in the Eastern Mediterranean, east of Greece, south of Turkey, west of Syria and north of Egypt. It is the third largest island in the Mediterranean Sea.The earliest known human activity on the...
imposed a freezing order on a number of Kerimov's Cyprus-based assets. This included his shares in the potash mining company Uralkali
Uralkali
Uralkali is a Russian potash fertilizer company. It is traded on the London Stock Exchange using the symbol, URKA. and its largest shareholder is billionaire Suleyman Kerimov. The company is based in Perm Krai, Russia....
, as well as Polyus Gold. However, the freezing order was reversed in February of 2011, when the same court ruled that the plaintiffs in the case had failed to provide sufficient grounds for maintaining an interim freezing order.
In January 2011, he purchased the Russian Premier League
Russian Premier League
The Russian Premier League , currently called SOGAZ Russian Football Championship due to sponsorship reasons, is the top division of Russian football. There are 16 teams in the competition...
football team FC Anzhi Makhachkala
FC Anzhi Makhachkala
FC Anzhi Makhachkala is a Russian football club based in Makhachkala, capital of the Republic of Dagestan, which plays in the Russian Premier League. The word "Anzhi" is part of Anzhi-Qala the old name of Makhachkala.-History:The club was founded in 1991 and has played in the Russian league since...
.
Personal
Kerimov is married and has three children. A lifelong athlete and supporter of youth sports, Kerimov currently serves as Chairman of the Board of Trustees of the Russian Wrestling Federation. He has served in this position since the board was created in 2006.On November 26, 2006, in Nice, France Kerimov was seriously injured in a road accident on the Promenade des Anglais
Promenade des Anglais
The Promenade des Anglais is a celebrated promenade along the Mediterranean at Nice, France.-History:Before Nice was urbanized, the coast at Nice was just bordered by a deserted band of beach...
. He suffered severe burns from this accident followed by prolonged recovery.
Philanthropy
Following his car crash and resulting medical treatment for severe burns, Kerimov donated €1 million to the non-profit organisation Pinocchio. The non-profit organisation, which works with children suffering from burns, has an annual budget of between €250,000-300,000.In 2007, Kerimov founded The Suleiman Kerimov Foundation with the vision to help lives by investing in initiatives that strengthen communities and help those in need. The foundation supports projects all over the world, with particular emphasis on Russia and Russian communities. Between its 2007 and 2009, the foundation made donations totaling over $164 million in support of worthwhile projects and causes.
On December 17, 2010, the press reported that Kerimov will spend $100 million on the construction of an advanced comprehensive school west of Moscow
"for educating forward-minded children from different social groups.” The school will include a modern sports complex with a swimming pool, a skating-rink, a giant dance floor, as well as a residential area for gifted children from the provinces.
The Suleiman Kerimov Foundation has directed over $60 million to charitable causes.
External links
- Forbes' World's Richest People List
- Mineweb Article on Polimetall
- Mineweb Message Board
- Ice Photos of Suleyman Kerimov's
- Kerimov's crash Kerimov's crash
- The Philanthropist of Dagestan Profile of Kerimov's Charity work