Early Life and Education
Bulat Zhamituly Utemuratov was born on November 13, 1957, in the Kazakh SSR. His father worked in the judiciary, and his mother was an accountant. He graduated from the Faculty of Economics of the Almaty Institute of National Economy in 1981.
Rise to Success
After Kazakhstan gained independence in 1991, Utemuratov was selected by President Nursultan Nazarbayev to seek economic opportunities for the new republic. He played a crucial role in brokering Kazakhstan's first line of credit with Bank Creditanstalt. In 1995, he co-founded Almaty Trade and Finance (ATF) Bank, becoming its controlling shareholder by 2007. The sale of ATF Bank to UniCredit Group in 2007 for $2.2 billion marked the largest transaction in the CIS banking sector at that time.
Key Business Strategies
Utemuratov's business interests include finance, telecommunications, mining, and the hotel sector. He is the key investor in projects managed by Verny Capital. Utemuratov has been involved in several transactions with Glencore, including the sale of Kazzinc shares and acquiring the Vasilkovskoye gold mine. He sold his Glencore shares in December 2021.
Philanthropy
Utemuratov is known for his philanthropic efforts through the Bulat Utemuratov Foundation, which supports healthcare, education, disaster relief, and cultural initiatives. The Foundation has allocated $15 million to its flagship project "Autism. One World for All". It has also initiated social infrastructure projects across Kazakhstan, worth over $100 million. Additionally, Utemuratov has invested over $150 million in the development of tennis in Kazakhstan.