Timur Kulibayev, head of the state-owned holding Samruk-Kazyna and son-in-law of Kazakhstan’s President Nursultan Nazarbayev, was named the most influential Kazakh businessman in a ranking published this month by Forbes Kazakhstan, a local edition of the business magazine. Kulibayev, together with his wife Dinara Kulibayeva, owns Almex, a conglomerate with interest in banking, construction, mining, and other sectors. Kulibayev also heads the Kazenergy Association, an influential oil and gas lobbying group, and is said to hold significant interests in Kazakh energy sector.
Bulat Utemuratov, an influential advisor to Nazarbayev, was second on Forbes’ ranking. Utemuratov sold his stake in ATF Bank, Kazakhstan’s fifth largest bank, to the Italian banking group Unicredit at the top of the market in 2007 for $2.2 billion.
Through various investment vehicles he is involved in banking, metals and mining, real estate and telecommunications. Third on the list is Patokh Khodiev, one of the three founders and largest shareholders in the Eurasian Natural Resources Corporation (ENRC), the world’s largest ferroalloys producer. Khodiev, who holds Belgian citizenship, controls various other mining and financial services assets, together with his two partners – Alexander Mashkevich and Adilzhan Ibragimov.
Mashkevich, an Israeli citizen and the most well-known of the trio of ENRC founders, ranks fourth, according to Forbes. Vladimir Kim, the chairman of Kazakhmys, Kazakhstan’s biggest copper miner, took fifth place in the ranking. Earlier this year, the U.S. edition of the Forbes magazine estimated Kim’s net worth at $4.7 billion, making him Kazakhstan’s richest man.
Indian steel tycoon Lakshmi Mittal, who owns Kazakhstan’s largest steel mill, ArcelorMittal Temirtau, was sixth on the list, followed by the last of the ENRC trio, Ibragimov. Chairman of Bank CenterCredit Bakhytbek Baiseitov was ranked eighth while Nurzhan Subkhanberdin, the controlling shareholder of Kazakhstan’s largest bank Kazkommertsbank, was ninth. Nurlan Smagulov, head of the industrial conglomerate Astana Group, rounded out the top ten.
SOURCE: SRI, Kazakhstan Daily news Brief, October 17, 2011