Timur Kulibayev Net Worth & Biography

Timur Kulibayev is a Kazakh businessman who most people easily recognize as the son-in-law of ex-Kazakh president Nursultan Nazarbayev.

He has held several positions in significant state-owned endeavors that manage Kazakhstan’s natural resources and has a huge influence over the country’s hydrocarbon industry. He currently serves as a member of the Board of the Gazprom Company. Formerly, he occupied the post of chairman of the Management Board of Samruk-Kazyna National Welfare Fund. He is cited as one of the most important business personalities in the resource-rich Republic of Kazakhstan. Details about his entrepreneurial life and net worth have been made available in the article below.

Early Life: Childhood, Education

He was born Timur Askaruly Kulibayev on 10 September 1966 in Alma-Ata (now Almaty), Kazakh SSR, USSR.

In 1988, he graduated from Lomonosov Moscow State University where he majored in “National Economy Planning” and thus became an economist by profession. He also has a Ph.D. in Economics.

Professional Life: Business career

From 1988 to 1992, Timur worked as a junior research assistant at SREIP&NS (the Scientific-Research Economics Institute of Planning and Normative Standards). He then worked as a director of Kazakhstan’s Scientific-Consulting Center of the Fund of Cultural, Social, Scientific, and Technological Development.

Timur was the director of the Research and Consultative Center in 1992. He headed Altyn-Alma and occupied the position of chairman of the Supervisory Board of Almaty Trade and Industry Bank.

In 1997 he was appointed as the deputy chairman of the Directorate for Project Assessment and Negotiating under Kazakhstan’s Investment Committee.

From May 1997 until March 1999, he served as the Vice-President on Economy and Finance of CJSC Oil and Gas Company Kazkhoil, after which he became the resident of CJSC Company for Oil Transportation KazTransOil.

From May 2001 till February 2002, he worked as the General Director of CJSC Company Oil and Gas Transportation. He served as the First Vice-President of JSC NC from February 2002 until October 2005.

After his resignation from his job in KazMunaiGas, he has headed the Association of Legal Entities that united major national and foreign companies carrying out operations in the energy sector of Kazakhstan. At the same time, he became an Adviser to the President of the country.

In 2007, through Kazakhstani investor Kenes Rakishev, Kulibayev became the owner of Prince Andrew’s former Sunninghill Park. In 2016, after the demolition of the structure, a 14-bedroom mansion was built in its place.

Since 2011, Kulibayev has been on the board of Gazprom. He has maintained the position of chairman of the Kazakhstan National Committee of the World Petroleum Council since June 2008.

In 2020, the Financial Times posted an investigative report based on emails and whistleblower information which showed that Kulibayev’s staff was involved in schemes that would allow the businessman to skim tens of millions of dollars from state contracts that the Republic of Kazakhstan made on pipeline construction.

Personal Life: Wife, Children, Private Interests

He is married to Dinara Nursultanovna, the daughter of Kazakhstan’s former president Nursultan Nazarbayev who has a close relationship with Russian President Vladimir Putin. They have three children together, daughters Deniza and Alishya, and a son Altay. He also has two other sons with entrepreneur and influencer Goga Ashkenazi, named Adam and Alan.

Away from his business concerns, Timur Kulibayev is a devoted fan of sports, especially golf. He is also the president of the Kazakhstani Boxing Federation.

Timur Kulibaev Net Worth: Salary, Income Sources, Assets

This popular Kazakhstani public figure and son-in-law of former Kazakh president Nursultan Nazarbayev is said to have a net worth of $10 billion. His wealth has been earned from the many positions that he has held in state-owned businesses and organizations. Mr. Timur Askarovich Kulibayev who was born in Alma-Ata, Kazakhstan, has managed to maintain various significant positions in important state-owned enterprises that control Kazakhstan’s natural resources. This is one of the several reasons why he happens to be filthy rich today. He has a stronghold on the hydrocarbon industry as well. After majoring in National Economy Planning at the Lomonosov Moscow State University and later earned a Ph.D. in Economics, Kulibaev who has all the appropriate qualifications has gone on to occupy high positions in his native Kazakhstan. He has headed top state establishments like Gazprom, Samruk-Kazyna National Welfare Fund, and the oil, gas and energy trade association KazEnergy. He re-entered the billionaire ranks in the year 2013 courtesy of the rising revenues and his profits from his Halyk Bank. In addition to being one of the wealthiest people in his country, this married man and a father of three has also helped his country’s boxing federation as its president by bringing many positive changes.  Due to Kazakh 2022 protests, the businessman and his family have lost over $200 million after Halyk Bank fell nearly 16 percent at the London stock exchange.