Timur Kulibayev Explained

Timur Kulibayev
Birth Name:Timur Askaruly Kulibayev
Birth Date:10 September 1966
Birth Place:Almaty, Kazakh SSR, USSR
Nationality:Kazakh
Alma Mater:Moscow State University
Children:3
Spouse:Dinara Nazarbayeva

Timur Askaruly Kulibayev (kk|Тимур Асқарұлы Құлыбаев, Kazakh: Timur Asqarūly Qūlybayev, in Kazakh pronounced as /tɘjˈmur ɑsˌqɑrʊˈɫɤ qʊɫɤˈbɑjɪf/; born 10 September 1966) is a Kazakh businessman. He is the son-in-law of former Kazakh dictator Nursultan Nazarbayev. He is known as Kazakhstan's "Oil Prince" due to his connections to Kazakh political elites and Kazakh state-owned energy companies.[1]

Kulibayev has held several positions in Kazakh state-owned enterprises that manage Kazakhstan's natural resources and has immense influence over the country's hydrocarbon industry.[2] [3] [4] He is the former head of Samruk-Kazyna (Kazakhstan's sovereign wealth fund). He was on the Board of Directors of the Gazprom, Russia's largest energy company from 2011 to 2022.[5] [6] [7] In 2020, the Financial Times reported that Kulibayev was involved in schemes to skim at least tens of millions of dollars from contracts that the Kazakhstani state made on pipeline construction.[8] [9]

, he had an estimated net worth of $3.7billion.[10] Kulibayev has been called "the most important business figure" in the Republic of Kazakhstan by The Daily Telegraph.[11]

Early life and education

Kulibayev was born on 10 September 1966 in Alma-Ata (now Almaty), Kazakh SSR, USSR. His father was a Communist Party boss in the Soviet Union.

In 1988, he graduated from Lomonosov Moscow State University after studying "National Economy Planning".[12]

He defended his PhD thesis on the topic "Improving the Organizational and Economic Mechanism of Enterprise Management in Market Conditions (Using the Example of the Oil Industry)" in 1999.[13]

Business career

From 1988 to 1992, he was a junior research assistant at the Scientific-Research Economics Institute of Planning and Normative Standards (SREIP&NS) under the State Plan of Kazakh Soviet Socialist Republic, and was a director of the Scientific-Consulting Center of the Fund of Cultural, Social, Scientific and Technological Development of Kazakhstan.[14] [15] [16] [17] [18] [19]

From 1992 to 1995, he headed the Altyn-Alma concern (it was transformed into the Almex holding).[20] [21]

In 1995, he founded the Almaty Trade and Financial Bank together with his partners. He took the position of Chairman of the Supervisory Board and joined the Credit Committee.[22]  

From 1997 to 1999, he was Vice President for Economics and Finance at Kazakhoil. In 1999, he became the head of the National Oil Transportation Company KazTransOil CJSC (a state-owned company for the management of the main oil pipelines). From 2001 to 2002, he headed CJSC National Oil and Gas Transport Company (formed on the basis of KazTransOil and KazTransGas). From 2002 to 2005, he held the position of First Vice President of JSC National Company KazMunayGas (which united Kazakhoil and the Oil and Gas Transport Company. From 2006 to 2007 he was a member of the company's Board of Directors, and from 2009 to 2012 he was Chairman of the Board. Timur Kulibayev participated in the deal to buy out 8.33% of the North Caspian project from British Gas, which ensured the participation of KazMunayGas in the development of the Kashagan field. Timur Kulibayev's activities in the company have led to an increase in recoverable oil reserves, the expansion and diversification of transport routes for hydrocarbons, and an increase in oil refining capacity.[23] [24]

From 2005 to 2013, he was a freelance advisor to his father-in-law, Nursultan Nazarbayev, the president of the Republic of Kazakhstan.

From 2006 to 2007, he was Deputy Chairman of the National Welfare Fund Samruk-Kazyna JSC. In 2008, he became the Chairman of the Board. He also held the position of Chairman of the Board of Directors in subsidiaries of the holding: Kazatomprom (2008-2012), Kazakhstan Temir Zholy (2009-2011), Samruk-Energo (2009-2011). On 26 December 2011, Kulibayev resigned from the post of chairman of the Board of Samruk-Kazyna. On 26 December 2011, Kulibayev resigned from the post of chairman of the Board of Samruk-Kazyna.[25] From 2006 to 2007, he was a member of the Board of Directors of KEGOC, and from 2008 to 2011, he headed the Board. On 26 December 2011, Kulibayev resigned from the post of chairman of the Board of Samruk-Kazyna.[26] [27]

Kulibayev joined the board of Gazprom in 2011.[28] [29] In March 2022, he resigned from Gazprom's board with immediate effect. Since June 2008, he has been Chairman of the Kazakhstan National Committee of the World Petroleum Council.[30]

In 2020, the Financial Times reported on emails and whistleblower information which showed that staff for Kulibayev was involved in schemes that would allow Kulibayev to skim at least tens of millions of dollars from contracts that the Kazakhstani state made on pipeline construction. Kulibayev has denied the allegations.

Due to the 2022 Kazakh unrest, Kulibayev and his wife Dinara lost $200million after Halyk Bank fell 16% at the London Stock Exchange.[31]

Kulibayev was appointed to the Board of Directors of the Russian largest energy company shows the particular importance of economic cooperation between Kazakhstan and the Russian Federation, as well as a recognition of high professional qualities of the Chief Executive of Samruk-Kazyna Fund.[32]

Public Activities

From 2005 to 2023, he headed the Kazakh Association of Organizations of the Oil and Gas and Energy Complex Kazenergy, a structure that deals with establishing relations between private investors and government agencies and unites national and foreign companies operating in the energy sector of Kazakhstan.[33] [34] [35] [36] [37]  

From 2009 to 2024, he headed the Kazakhstan Boxing Federation. During this period, the Kazakh boxing team won one gold, one silver, and two bronze medals at the 2012 Olympic Games and one gold, two silver, and two bronze medals at the 2016 Olympics.[38] [39]

In 2010, he took the position of Chairman of the Presidium of the National Economic Chamber of Kazakhstan "Atameken Union". 

From 2010 to 2015, he was a member of the Executive Committee of the National Olympic Committee of the Republic of Kazakhstan.

In 2012, he took the positions of Vice President and member of the Executive Committee of the International Amateur Boxing Association (AIBA).[40]

From 2012 to 2016, he held the position of Chairman of the Association of Legal Entities in the Confederation of Combat and Power Sports, which included the republic's federations of boxing, wrestling, weightlifting, and judo.[41]

In 2013, the National Chamber of Entrepreneurs of the Republic of Kazakhstan was established by decision of the government of Kazakhstan and Atameken Union. Timur Kulibayev was elected Chairman of the Presidium of the Chamber. He held this position until January 17, 2022.[42] [43] During this period, he supervised the implementation of the Chamber's projects, regularly traveled around the country, visited enterprises, and communicated with entrepreneurs and representatives of various government bodies.[44]  

From 2015 to 2024, he was the President of the National Olympic Committee of the Republic of Kazakhstan and Chairman of the Executive Committee of the National Olympic Committee of the Republic of Kazakhstan Public Association.[45]

From 2016 to 2019, he headed the Swimming Sports Federation of Kazakhstan.

In 2016, he assumed the position of Vice President and member of the Executive Committee of the Olympic Council of Asia (OCA, Olympic Council of Asia).[46]

From 2017 to 2019, he was a member of the Public Affairs and Social Development Through Sport Commission (PASD) of the International Olympic Committee. It was transformed into the IOC Olympism 365 Commission,[47] which Kulibayev joined in September 2022.

From 2018 to 2023, he was a member of the Presidium of the Kazakhstan Golf Federation.

In 2018, he joined the Executive Committee of the Association of National Olympic Committees (ANOC).

Personal life

Kulibayev is married to Dinara Nursultanovna (née Nazarbayeva), daughter of Kazakhstan's long-time president Nursultan Nazarbayev.[48] She and Kulibayev have three children.[49] He owns a vast real estate portfolio, including a mansion in the United Kingdom, castles in Switzerland and Germany, and a Spanish estate.

In 2007, Kulibayev (with the help of Kazakhstani investor Kenes Rakishev) became the owner of Sunninghill Park, a country house formerly belonging to Prince Andrew, after Sarah, Duchess of York and their daughters left the property in 2006. Kulibayev paid $19.7million for the house, $4million over the asking price, even though there were no other bids.[50] In 2016 it was demolished and a 14-bedroom mansion was built in its place.[51]

Kulibayev is an avid fan of sports, especially golf, skiing, and soccer.[52] [53]

He speaks Kazakh, Russian, and English.

Awards

Notes and References

  1. Web site: 2024-11-22 . Uncovering Timur Kulibayev’s European property empire . ICIJ . en-US.
  2. http://oilandglory.com/2007_08_01_archive.html "The Kazakhs Want Control"
  3. http://labels/Aliyev.html "A Window Into a First Family's Oil Holdings"
  4. https://money.cnn.com/news/newsfeeds/articles/djf500/200809041004DOWJONESDJONLINE000634_FORTUNE5.htm Kashagan First Oil Now Seen In 2014
  5. Web site: Samruk-Kazyna official website, Management Board Information. Samruk-kazyna.kz. 23 February 2015.
  6. Web site: Kazenergy . 2022-07-06 . www.kazenergy.com.
  7. Web site: Глава Минсельхоза Патрушев вошел в совет директоров "Газпрома" . 2022-07-06 . NEWS.ru . ru.
  8. Web site: Burgis . Tom . 2 December 2020 . The secret scheme to skim millions off central Asia's pipeline megaproject . 2020-12-03 . www.ft.com.
  9. News: Burgis . Tom . 2 December 2020 . The document trail that pointed to a secret pipeline scheme . 2021-05-15 . www.ft.com.
  10. Web site: Forbes profile: Timur Kulibaev . Forbes . 19 June 2020.
  11. News: Orange. Richard. Timur Kulibayev to head $80bn Kazakh Sovereign wealth fund. 3 October 2015. The Daily Telegraph. 12 April 2011.
  12. Web site: Досье: Тимур Аскарович Кулибаев. 2022-01-10. inbusiness.kz. ru.
  13. Web site: Досье: Тимур Аскарович Кулибаев . 2024-08-13 . inbusiness.kz . ru.
  14. Web site: Timur A. Kulibayev. Kegoc.kz. 23 February 2015.
  15. Web site: Самрук-Қазына. Samruk-kazyna.kz. 23 February 2015.
  16. News: The World's Billionaires #880: Timur Kulibaev. 3 October 2015. Forbes. 3 October 2010.
  17. Web site: Timur Kulibayev | АО "Казахстан Темiр Жолы". Railways.kz. 23 February 2015.
  18. Web site: The Board of Directors Authority Corporate Governance Home NC KazMunayGas JSC. Kmg.kz. 23 February 2015.
  19. Web site: Кулибаев Тимур Аскарович (персональная справка). 2022-01-10. Информационная система ПАРАГРАФ.
  20. Web site: Кулибаев Тимур Аскарович (персональная справка) . 2024-08-13 . Информационная система ПАРАГРАФ . ru.
  21. Web site: 2013-09-09 . Тимур Кулибаев возглавил Нацпалату предпринимателей . 2024-08-13 . Деловой портал Капитал.кз . ru.
  22. Web site: 2023-09-29 . Тимур Кулибаев: Биография, образование, семья Lenta.ru . 2024-08-13 . https://web.archive.org/web/20230929123432/https://lenta.ru/lib/14215753/#2 . 2023-09-29 .
  23. Web site: 2024-05-17 . Кулибаев Тимур Аскарович: биография и карьера . 2024-08-13 . https://web.archive.org/web/20240517104340/https://lenta.ru/tags/persons/kulibaev-timur/ . 2024-05-17 .
  24. Web site: 2024-05-17 . "КазМунайГаз" завершил сделку по приобретению доли "Бритиш Газ" в Северо-Каспийском проекте — Новости о нефти и газе в России и мире - Нефть и капитал . 2024-08-13 . https://web.archive.org/web/20240517104357/https://oilcapital.ru/news/2005-05-04/kazmunaygaz-zavershil-sdelku-po-priobreteniyu-doli-british-gaz-v-severo-kaspiyskom-proekte-984790 . 2024-05-17 .
  25. Web site: 2018-02-01 . ФНБ "Самрук-Казына" возглавил Тимур Кулибаев - новости Казахстана Tengrinews . 2024-08-13 . https://web.archive.org/web/20180201075809/https://tengrinews.kz/kazakhstan_news/fnb-samruk-kazyina-vozglavil-timur-kulibaev-184206/ . 2018-02-01.
  26. Web site: Увольнение Кулибаева из фонда. 2022-01-10. ИА REGNUM. ru.
  27. News: Еще трех человек из Казахстана включили в список потенциальных мишеней программы Pegasus. 2022-01-10. Радио Азаттык. 6 August 2021 . ru.
  28. Web site: Burgis . Tom . 2 December 2020 . The secret scheme to skim millions off central Asia's pipeline megaproject . 2020-12-03 . www.ft.com.
  29. News: Burgis . Tom . 2 December 2020 . The document trail that pointed to a secret pipeline scheme . www.ft.com . 2021-05-15.
  30. Web site: Кулибаев, Тимур Председатель президиума Национальной экономической палаты Казахстана "Союз 'Атамекен'", председатель ассоциации KazEnergy. 2022-01-10. lenta.ru.
  31. Web site: Dawkins . David . Kazakhstan's Tycoons–Including Members Of Nazarbayev Family–Shed Billions As Stocks Plunge . 2022-01-10 . Forbes . en.
  32. Web site: 12 April 2011 . Timur Kulibayev to head Samruk Kazyna . 23 February 2015 . En.tengrinews.kz.
  33. Web site: 2017-12-07 . Очередь у трона не занимать – Огонек № 31 (5189) от 08.08.2011 . 2024-08-13 . https://web.archive.org/web/20171207085517/https://www.kommersant.ru/doc/1689511 . 2017-12-07 .
  34. Web site: 2018-02-01 . Кулибаев Тимур Аскарович . 2024-08-13 . https://web.archive.org/web/20180201075513/https://www.kursiv.kz/persons/Kulibaev-Timur-Askarovich/ . 2018-02-01 .
  35. Web site: 2024-02-26 . Тимур Кулибаев покинул пост председателя Kazenergy — Forbes Kazakhstan . 2024-08-13 . https://web.archive.org/web/20240226133857/https://forbes.kz/actual/appointments/timur_kulibaev_pokinul_post_predsedatelya_kazenergy/ . 2024-02-26 .
  36. Web site: 2023-12-19 . Тимур Кулибаев покинул пост KazEnergy . 2024-08-13 . https://web.archive.org/web/20231219092303/https://kaztag.kz/ru/news/timur-kulibaev-pokinul-post-kazenergy . 2023-12-19 .
  37. Web site: 2024-01-01 . Тимур Кулибаев покинул пост председателя Ассоциации «KAZENERGY» — новости на сайте Ак Жайык . 2024-08-13 . https://web.archive.org/web/20240101112421/https://azh.kz/ru/news/view/96487 . 2024-01-01 .
  38. Web site: 2024-05-17 . Кулибаев Тимур Аскарович - фото, цитаты, биография . 2024-08-13 . https://web.archive.org/web/20240517071602/https://neftegaz.ru/persons/333252-kulibaev-timur/?clear_cache=Y . 2024-05-17 .
  39. Web site: 2024-05-17 . Кулибаев Тимур Аскарович ▷ биография, фото, должность . 2024-08-13 . https://web.archive.org/web/20240517071604/https://kapital.kz/dossier/kulibaev-timur . 2024-05-17 .
  40. Web site: 2018-02-01 . Тимур Кулибаев переизбран в должности вице-президента АИБА по APB . 2024-08-13 . https://web.archive.org/web/20180201133836/https://www.zakon.kz/4667873-timur-kulibaev-pereizbran-v-dolzhnosti.html . 2018-02-01 .
  41. Web site: 2018-02-01 . В Казахстане создана «Конфедерация спортивных единоборств и силовых видов спорта» во главе с Т.Кулибаевым . 2024-08-13 . https://web.archive.org/web/20180201135250/http://www.inform.kz/ru/v-kazahstane-sozdana-konfederaciya-sportivnyh-edinoborstv-i-silovyh-vidov-sporta-vo-glave-s-t-kulibaevym_a2511768 . 2018-02-01 .
  42. Web site: 2018-02-01 . Председателем президиума НПП избран Тимур Кулибаев — Forbes Kazakhstan . 2024-08-13 . https://web.archive.org/web/20180201075436/https://forbes.kz/process/appointments/predsedatel_prezidiuma_npp_izbran_timur_kulibaev/ . 2018-02-01 .
  43. Web site: 2018-02-01 . Кулибаев возглавил президиум Национальной палаты предпринимателей - новости Казахстана Tengrinews . 2024-08-13 . https://web.archive.org/web/20180201075821/https://tengrinews.kz/kazakhstan_news/kulibaev-vozglavil-prezidium-natsionalnoy-palatyi-241353/ . 2018-02-01 .
  44. Web site: Кулибаев Тимур — биография и карьера казахстанского бизнесмена и мецената - Свободная Пресса . 2024-08-13 . svpressa.ru . ru.
  45. Web site: 2024-05-17 . НОК РК будет получать госзадание на подготовку сборных . 2024-08-13 . https://web.archive.org/web/20240517071602/https://www.inform.kz/amp/nok-rk-budet-poluchat-goszadanie-na-podgotovku-sbornyh_a3021271 . 2024-05-17 .
  46. Web site: 2024-05-17 . Кулибаев Тимур Аскарович . 2024-08-13 . https://web.archive.org/web/20240517071603/https://olympic.kz/ru/page/44-kulibaev-timur-askarovich . 2024-05-17 .
  47. Web site: 2019-05-31 . Тимур Кулибаев вошел в Комиссию Международного олимпийского комитета — Новости Казахстана и Мира на деловом портале Kapital.kz . 2024-08-13 . https://web.archive.org/web/20190531090658/https://kapital.kz/naznacheniya/78300/timur-kulibaev-voshel-v-komissiyu-mezhdunarodnogo-olimpijskogo-komiteta.html . 2019-05-31 .
  48. Web site: The Rise of the East European Billionaires. Penz. Balazs. Fedorinova. Yuliya. Sazonov. Alexander. 2019-12-21. Bloomberg. 2024-01-25.
  49. Web site: Samruk-Kazyna official web site. Samruk-kazyna.kz. 23 February 2015.
  50. Web site: Grimston . Jack . Foggo . Daniel . Prince Andrew's secret Kazakh link . The Sunday Times . 20 July 2022 . 14 February 2010.
  51. Coughlin, Daniel (January 30, 2020). The Crumbling Abandoned Mansions of the Rich and Famous: Prince Andrew and Fergie's Dallas Palace (slide #25). lovemoney.com website. Retrieved June 18, 2020.
  52. http://www.golfkz.kz/archive/iaugust2005 Тимур Кулибаев: Гольф - идеальная игра!
  53. Web site: Досье: Тимур Аскарович Кулибаев . 2024-08-13 . inbusiness.kz . ru.
  54. Указ Президента Российской Федерации от 20 декабря 2007 года № 1716 «О награждении орденом Дружбы Кулибаева Т. А.»
  55. Web site: 2018-02-22 . В Астане Патриарх Кирилл вручил награды ряду официальных лиц за содействие строительству Успенского кафедрального собора . https://web.archive.org/web/20180222170646/http://www.inform.kz/ru/v-astane-patriarh-kirill-vruchil-nagrady-ryadu-oficial-nyh-lic-za-sodeystvie-stroitel-stvu-uspenskogo-kafedral-nogo-sobora_a2228064 . 2018-02-22 . 2024-08-13.
  56. Web site: 2018-02-22 . Тимур Кулибаев и Касым-Жомарт Токаев удостоены госнаград ко Дню независимости РК - новости Казахстана Tengrinews . https://web.archive.org/web/20180222225500/https://tengrinews.kz/kazakhstan_news/timur-kulibaev-kasyim-jomart-tokaev-udostoenyi-gosnagrad-ko-266848/ . 2018-02-22 . 2024-08-13.

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