Timur Kulibayev

Timur Askaruly Kulibay (Kazakh: Тимур Асқарұлы Құлыбай, romanized: Timur Asqarūly Qūlybay, born 10 September 1966) is a Kazakh business oligarch and son-in-law of former Kazakh president Nursultan Nazarbayev.

Timur Kulibayev
Born
Timur Askaruly Kulibayev

(1966-09-10) 10 September 1966
Almaty, Kazakh SSR, USSR
NationalityKazakhstani
Alma materMoscow State University
Spouses
Amina Kulibaeva
​
​
(m. 1986; died 1990)​
    ​
    (m. 1990)​
    Children4

    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.[1][2][3] He is the former head of Samruk-Kazyna (Kazakstan's sovereign wealth fund) and a member of the Board of Directors of the Gazprom company from 2011 to 2022.[4][5][6] 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.[7][8]

    As of July 2022, he had an estimated net worth of $3.7 billion.[9] Kulibayev has been called "the most important business figure" in the Republic of Kazakhstan by The Daily Telegraph.[10]

    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 after studying "National Economy Planning".[11]

    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.[12][13][14][15][16][17]

    The appointment 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.[18][10]

    On 26 December 2011, Kulibayev resigned from the post of Chairman of the Board of Samruk-Kazyna.[19][20]

    Kulibayev joined the board of Gazprom in 2011.[7][8] In March 2022, he resigned from Gazprom's board with immediate effect.[5][6]

    Since June 2008, he has been Chairman of the Kazakhstan National Committee of the World Petroleum Council.[21]

    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.[7][8] Kulibayev has denied the allegations.[7][8]

    Due to the 2022 Kazakh unrest, Kulibayev and his wife Dinara lost $200 million after Halyk Bank fell 16% at the London Stock Exchange.[22]

    Personal life

    Kulibayev is married to Dinara Nursultanovna (née Nazarbayeva), daughter of Kazakhstan's long-time president Nursultan Nazarbayev who is extremely close to Vladimir Putin.[7][8] She and Kulibayev have three children.[23] Kulibayev also has two children with entrepreneur and socialite Goga Ashkenazi.[24]

    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 Fergie and their daughters left the property in 2006. Kulibayev paid $19.7 million for the house, $4 million over the asking price, even though there were no other bids.[25] In 2016 it was demolished and a 14-bedroom mansion was built in its place.[26]

    Kulibayev is an avid fan of sports, especially golf.[27] He is a president of Kazakhstani Boxing Federation.[28]

    References
    1. "The Kazakhs Want Control" Archived 2008-01-23 at the Wayback Machine, oilandglory.com; accessed 23 February 2015.
    2. "A Window Into a First Family's Oil Holdings", oilandglory.com; accessed 23 February 2015.
    3. Kashagan First Oil Now Seen In 2014 CNN Money
    4. "Samruk-Kazyna official website, Management Board Information". Samruk-kazyna.kz. Retrieved 23 February 2015.
    5. "Kazenergy". www.kazenergy.com. Retrieved 2022-07-06.
    6. "Глава Минсельхоза Патрушев вошел в совет директоров "Газпрома"". NEWS.ru (in Russian). Retrieved 2022-07-06.
    7. Burgis, Tom (2 December 2020). "The secret scheme to skim millions off central Asia's pipeline megaproject". www.ft.com. Retrieved 2020-12-03.
    8. Burgis, Tom (2 December 2020). "The document trail that pointed to a secret pipeline scheme". www.ft.com. Retrieved 2021-05-15.
    9. "Forbes profile: Timur Kulibaev". Forbes. Retrieved 19 June 2020.
    10. Orange, Richard (12 April 2011). "Timur Kulibayev to head $80bn Kazakh Sovereign wealth fund". The Daily Telegraph. Retrieved 3 October 2015.
    11. "Досье: Тимур Аскарович Кулибаев". inbusiness.kz (in Russian). Retrieved 2022-01-10.
    12. "Timur A. Kulibayev". Kegoc.kz. Retrieved 23 February 2015.
    13. "Самрук-Қазына". Samruk-kazyna.kz. Retrieved 23 February 2015.
    14. "The World's Billionaires #880: Timur Kulibaev". Forbes. 3 October 2010. Retrieved 3 October 2015.
    15. "Timur Kulibayev | АО "Казахстан Темiр Жолы"". Railways.kz. Retrieved 23 February 2015.
    16. "The Board of Directors Authority Corporate Governance Home NC KazMunayGas JSC". Kmg.kz. Retrieved 23 February 2015.
    17. "Кулибаев Тимур Аскарович (персональная справка)". Информационная система ПАРАГРАФ. Retrieved 2022-01-10.
    18. "Timur Kulibayev to head Samruk Kazyna". En.tengrinews.kz. 12 April 2011. Retrieved 23 February 2015.
    19. "Увольнение Кулибаева из фонда". ИА REGNUM (in Russian). Retrieved 2022-01-10.
    20. "Еще трех человек из Казахстана включили в список потенциальных мишеней программы Pegasus". Радио Азаттык (in Russian). Retrieved 2022-01-10.
    21. "Кулибаев, Тимур Председатель президиума Национальной экономической палаты Казахстана "Союз 'Атамекен'", председатель ассоциации KazEnergy". lenta.ru. Retrieved 2022-01-10.
    22. Dawkins, David. "Kazakhstan's Tycoons–Including Members Of Nazarbayev Family–Shed Billions As Stocks Plunge". Forbes. Retrieved 2022-01-10.
    23. "Samruk-Kazyna official web site". Samruk-kazyna.kz. Retrieved 23 February 2015.
    24. Kuper, Simon (21 June 2013). "Lunch with the FT: Goga Ashkenazi". Financial Times. Retrieved 3 October 2015.
    25. Grimston, Jack; Foggo, Daniel (14 February 2010). "Prince Andrew's secret Kazakh link". The Sunday Times. Retrieved 20 July 2022.
    26. 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.
    27. Тимур Кулибаев: Гольф - идеальная игра! Archived 2007-09-12 at the Wayback Machine, Golf.kz (in Russian)
    28. Президентом федерации избран Тимур Кулибаев - Вечерний Алматы (in Russian). Vecher.kz. Retrieved 23 February 2005.
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