Early Life and Education
Suleiman Abusaidovich Kerimov was born on March 12, 1966, in Derbent, Dagestan, then part of the Soviet Union. He graduated from Dagestan State University in 1989 with a degree in financial accounting and economics. During his studies, he was the Deputy Chairman of DSU's Trade Union Committee. After completing his service in the Soviet Army, Kerimov began his professional career.
Rise to Success
Kerimov's career began as an economist at the Eltav electrical plant in Makhachkala. He rose through the ranks, becoming Deputy Director General. In the early 1990s, he moved to Moscow and started buying companies. By 1999, he had acquired a 55% stake in Nafta Moskva, a former state-oil trader. Kerimov transformed Nafta Moskva into a major investment holding company. He made significant investments in Gazprom, Sberbank, and Polyus Gold.
Key Business Strategies
Kerimov’s success is attributed to his strategic investments and ability to secure loans on favorable terms. He focused on acquiring distressed assets and making high-leverage investments in undervalued Russian companies, particularly in commodities such as gold mining via Polyus. He also entered politics in the 1990s, which provided him with connections.
Philanthropy
Kerimov established the Suleyman Kerimov Foundation, which supports religious and educational causes. He has also made significant contributions to distressed communities.