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# 210 Suleiman Kerimov $9.77B

Random fact: Crashed his Ferrari Enzo in Nice, France, in 2006.


Kerimov's family formerly held about three-quarters of Polyus, the biggest gold producer in Russia. Suleiman's son Said Kerimov sold part of the Moscow-based mining company to Akhmet Palankoyev in April 2022 and moved the family's remaining 46% stake to the Fund for support of Islamic foundations in May 2022.

As of :
Last change -$25.0M ( -0.3%)
YTD change +$775M ( +8.6%)
Biggest asset Cash
Country / Region Russian Federation
Age 56
Industry Commodities
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Suleiman Kerimov's net worth of $9.77B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Kerimov's fortune is derived from proceeds of his investments in Polyus and other Russia-based investments.

Polyus is Russia's biggest gold producer with 104 million ounces of proven and probable gold reserves, according to its website.

Kerimov's son, Said, formerly held 76% of the publicly traded company, according to the site. The shares were controlled through Russia-based Wandle Holdings, according to Polyus's corporate filings. In April 2022, he sold 30% to businessman Akhmet Palankoyev and the next month transferred control of Wandle Holdings, which holds 46.3% of Polyus, to the Fund for support of Islamic foundations, according to a company announcement.

Following the transfer Kerimov no longer held any economic interest or ownership rights in Polyus, according to the announcement. The 46.3% stake in Polyus was removed from this analysis on May 16, 2022 and this led to a decrease in the calculation of about $2 billion. A further reduction of about $3 billion occurred in October 2022 when the portfolio currency used in the calculation was changed from US dollars to Russian rubbles

The value of his cash investments is based on an analysis of dividends and reflects the cost of assets and proceeds from sales that are derived from official filings, media reports and Bloomberg data. The investments are calculated in US dollars, and reflect taxes and market performance.

Kerimov didn't respond to requests seeking comment on his net worth.


Family: Married, 3 children

Suleiman Kerimov was born in Derbent, in the Republic of Dagestan, Russia, in 1966. When he was 18, a year after enrolling at Dagestan State Technical University, he joined the Soviet army and served for two years, graduating in 1989 with a degree in economics. He took a job as an economist at Dagestan-based Eltav electrical plant, which made transistors and semi-conductors for television manufacturers. He moved to Moscow in 1993, and began working at Fedprombank, which was established by the plant to work with its business contractors.

Within four years, Kerimov had acquired a controlling stake in Vnukovo airlines, one of Moscow's three major airlines, and built a controlling stake in Fedprombank, which he sold in 1994. In 1998, he bought a controlling stake in Nafta Moskva, a near-bankrupt and former state-run oil trader that was later named by the United Nations for unlawfully profiting from the oil-for-food program. Kerimov was elected to Russia's State Duma, the country's main legislative body, in 1999.

Kerimov began pursuing hostile takeovers, winning control of the businesses owned by Andrey Andreyev, a former Soviet police officer who controlled a collection of assets. Among the assets was an insurance company, Avtobank, Ingosstrah, and the Novotroyitsk steel plant, one of Russia's ten biggest steel facilities. He began selling the assets in 2008, offloading some to billionaire Oleg Deripaska, a founder and co-owner of United Co. Rusal, an aluminum producer. Kerimov later sold Deripaska his interests in Moscow-based property developer SPK Razvitie, which he acquired in a hostile takeover.

The billionaire's biggest strikes came in the Russian stock market. He began buying Gazprom in 2003 using loans from Russian state banks. The company's market capitalization quadrupled during the next three years. He also bought shares of Sberbank, Russia's largest state-run bank. That investment increased 12-fold. After repaying the original loans, he started a new round of financing that he used to increase his positions and by 2006 held almost 6 percent of Sberbank and more than 4 percent of Gazprom. He sold most of his interests in both before the 2008 global economic crisis, building a fortune said to be worth as much as $18 billion, according to local media reports, much of which he lost in the market crash that followed.

He was investing again by 2009, this time using loans from VTB bank, Russia's second-biggest bank, acquiring at that time a 17.2 percent stake in Uralkali, Russia's largest potash producer, and a 40 percent stake in Polyus Gold International, Russia’s biggest producer of the metal, as well as minority stakes in a number of other Russian companies.

The billionaire sold his stake in Uralkali for about $4 billion in 2013. He transferred stake in Polyus to son, Said Kerimov, who sold part of it and gave the remaining share to the Fund for support of Islamic foundations in May 2022.

Kerimov is married and lives in Moscow.

  • 1966 Suleiman Kerimov is born in Derbent, the Republic of Dagestan, Russia.
  • 1984 Begins a two-year stint in the Soviet Army.
  • 1989 Graduates from Dagestan State Technical University.
  • 2006 Gets in a near-fatal car crash in Nice, France.
  • 2008 Appointed to the Council of the Federation in the Russian Parliament.
  • 2008 Sells controlling stake in Polymetal for about $1.8 billion.
  • 2013 Belarus seeks Kerimov's arrest, alleging abuse of office.
  • 2017 Detained in Nice on suspicions of laundering money.