Early Life
Igor Makarov was born on April 5, 1962, in Ashkhabad, Turkmen SSR, Soviet Union. From 1979 to 1986, Makarov was a competitive cyclist, representing the Soviet Union and earning medals and awards. He graduated from Turkmen State University in 1983 and later served in the Soviet Army.
Rise to Success
Makarov's business career began in 1992 when he founded ITERA Oil and Gas Company in Jacksonville, Florida. Itera quickly became a major player in the natural gas industry, eventually becoming the fourth-largest natural gas company in the world. In 2013, Rosneft acquired Itera for $2.9 billion. Following the sale of his Russian assets, Makarov established ARETI International Group in 2015, focusing on global investments.
Key Business Strategies
Makarov's business strategies involved identifying and capitalizing on opportunities in the energy sector, particularly in the natural gas market. He developed efficient distribution networks, making Itera a key supplier of gas. A significant aspect of his success was recognizing the need for commodities in the post-Soviet era and establishing ITERA to fill that gap.
Philanthropy
Igor Makarov is deeply involved in philanthropy. He established the charitable Makarov Foundation to support children's welfare and individuals with autism and other developmental disabilities. The Foundation has supported the Mount Sinai Adult Autism Clinic, the Best Buddies International, and the Joe DiMaggio Children's Hospital. In recognition of his charitable work, he has received UNESCO gold certificates and a gold medal.