Timur Kulibayev

Timur Askaruly Kulibayev (Kazakh: Тимур Асқарұлы Құлыбаев, Tımýr Asqaruly Qulybaev, born 10 September 1966) is a Kazakhstani business oligarch and son-in-law of former Kazakh president Nursultan Nazarbayev. Kulibayev has held several positions in important state-owned enterprises that manage Kazakhstan's natural resources, and has immense influence over the country's hydrocarbon industry.[2][3][4]

Timur Kulibayev
Born
Timur Askaruly Kulibayev

(1966-09-10) 10 September 1966
Almaty, Kazakh SSR, USSR
NationalityKazakhstan
Alma materMoscow State University
Net worthUS$3.0 billion (June 2020)[1]
Spouse(s)Dinara Nazarbayeva
Children5

He is the former Chairman of the Management Board of Samruk-Kazyna National Welfare Fund and a member of the Board of Directors of the Gazprom company.[5] As of June 2020, he had an estimated new worth of $3.0 billion.[1] Kulibayev has been called "the most important business figure in the resource-rich" Republic of Kazakhstan by The Daily Telegraph.[6]

In 2020, a Financial Times investigative report revealed that Kulibayev was involved in schemes to skim profits from state contracts for pipeline construction.[7]

Early life and education

Kulibayev was born on 10 September 1966 in Alma-Ata (now Almaty), Kazakh SSR, USSR. In 1988, he graduated from Lomonosov Moscow State University, majoring in "National Economy Planning", making him an economist by profession. He has a Ph.D. in Economics, and defended a thesis on: "Improvement of Organizational and Economic Mechanism of Enterprise Management in Market Environment (based on the oil industry)" (1999).

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.[8]

In 1990, he was the director of the Research and Consultative Center under the Fund for Cultural, Social and Technological Development in Kazakhstan. He headed Altyn-Alma and was Chairman of the Supervisory Board of Almaty Trade and Industry Bank. In 1997 he was appointed as the head of the Directorate for Project Assessment and Negotiating under the Investment Committee of Kazakhstan (exercising rights of the Deputy Chairman).[9]

From May 1997 until March 1999, he was the Vice-President on Economy and Finance of CJSC National Oil and Gas Company Kazkhoil. In March 1999 he became the President of CJSC National Company for Oil Transportation KazTransOil. From May 2001 till February 2002 he was the General Director of CJSC National Company Oil and Gas Transportation (created on the basis of KazTransOil and KazTransGas). From February 2002 until October 2005 he was the First Vice-President of JSC NC KazMunayGas, a merger of CJSC NC KazakhOil and CJSC NC Oil and Gas Transportation.[10]

After his resignation from the post in KazMunaiGas, he has initiated foundation and headed the Association of Legal Entities Kazakhstan Association of Oil, Gas and Energy Sector Organizations KAZENERGY that united major national and foreign companies, operating in the energy sector of Kazakhstan. At the same time he became part-time Adviser to the President of the Republic of Kazakhstan. In 2005-06 and 2007-08 he combined a public activity with a direct management of his own private business.[11][12]

From April 2006 till August 2007, he was the Deputy Chairman of the Management Board of JSC Kazakhstan Holding Company for State Assets Management Samruk. Simultaneously he was the Chairman of Board of Directors of JSC KEGOC and NC KazMunaiGas. In October 2008 he became the Deputy Chairman of the Management Board of JSC National Welfare Fund Samruk-Kazyna. He is Chairman of the Boards of Directors of JSC Kazatomprom, JSC NC KazMunayGas, JSC NC Kazakhstan TemirZholy, JSC Kazakhstan Company on Power Grid Management (KEGOC), JSC Samruk-Energo.

In 2007, Kulibayev became the owner through Kazakhstani investor Kenes Rakishev of Prince Andrew's former Sunninghill Park or the Dallas Palace for $19.7 million or $4 million over the asking price after Fergie and their daughters left the property in 2006. In 2016, after demolition of Sunninghill Park, a 14-bedroom mansion was built in its place.[13]

By decree of the Government of the Republic of Kazakhstan #409, on 12 April 2011, he was appointed to the post of the Chairman of the Management Board of JSC NWF Samruk-Kazyna. Based on the voting results by Decree of the Government of the Republic of Kazakhstan #410 of 12 April 2011, he was elected to the membership of the Board of Directors. The election of T.A. Kulibayev 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.[14][15]

On 26 December 2011, Kulibayev resigned from the post of Chairman of the Board of Samruk-Kazyna.

Kulibayev has been on the board of Gazprom since 2011.[7]

Since June 2008, he has been Chairman of the Kazakhstan National Committee of the World Petroleum Council.

In 2020, the Financial Times reported on emails and whistleblower information which showed that staff for Kulibayev was involved in schemes that would allow Kuilibayev to skim at least tens of millions of dollars from contracts that the Kazakhstani state made on pipeline construction.[7]

Personal life

He is married to Dinara Nursultanovna (née Nazarbayeva), daughter of Kazakhstan's long-time president Nursultan Nazarbayev. They have three children: a son Altay, and daughters Deniza and Alishya.[16] He has an additional two children with entrepreneur and socialite Goga Ashkenazi, both sons: Adam, born in 2007, and Alan, born in 2012.[17]

Kulibayev is an avid fan of sports, especially golf.[18] He is president of Kazakhstani Boxing Federation.[19]

See also

References
  1. "Forbes profile: Timur Kulibaev". Forbes. Retrieved 19 June 2020.
  2. "The Kazakhs Want Control" Archived 2008-01-23 at the Wayback Machine, oilandglory.com; accessed 23 February 2015.
  3. "A Window Into a First Family's Oil Holdings", oilandglory.com; accessed 23 February 2015.
  4. Kashagan First Oil Now Seen In 2014 CNN Money
  5. "Samruk-Kazyna official website, Management Board Information". Samruk-kazyna.kz. Retrieved 23 February 2015.
  6. Orange, Richard (12 April 2011). "Timur Kulibayev to head $80bn Kazakh Sovereign wealth fund". The Daily Telegraph. Retrieved 3 October 2015.
  7. "The secret scheme to skim millions off central Asia's pipeline megaproject". www.ft.com. 2020. Retrieved 2020-12-03.
  8. "Timur A. Kulibayev". Kegoc.kz. Retrieved 23 February 2015.
  9. "Самрук-Қазына". Samruk-kazyna.kz. Retrieved 23 February 2015.
  10. "The World's Billionaires #880: Timur Kulibaev". Forbes. 3 October 2010. Retrieved 3 October 2015.
  11. "Timur Kulibayev | АО "Казахстан Темiр Жолы"". Railways.kz. Retrieved 23 February 2015.
  12. "The Board of Directors Authority Corporate Governance Home NC KazMunayGas JSC". Kmg.kz. Retrieved 23 February 2015.
  13. 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.
  14. "Timur Kulibayev to head Samruk Kazyna". En.tengrinews.kz. Retrieved 23 February 2015.
  15. Richard Orange. "to head $80bn Kazakh Sovereign wealth fund". Uk.finance.yahoo.com. Retrieved 23 February 2015.
  16. "Samruk-Kazyna official web site". Samruk-kazyna.kz. Retrieved 23 February 2015.
  17. Kuper, Simon (21 June 2013). "Lunch with the FT: Goga Ashkenazi". Financial Times. Retrieved 3 October 2015.
  18. Тимур Кулибаев: Гольф - идеальная игра! Archived 2007-09-12 at the Wayback Machine, Golf.kz (in Russian)
  19. Президентом федерации избран Тимур Кулибаев - Вечерний Алматы (in Russian). Vecher.kz. Retrieved 23 February 2005.
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