Early Life and Education
Suleiman Abusaidovich Kerimov was born on March 12, 1966, in Derbent, Dagestan, then part of the Soviet Union. He is of Lezgin descent. His father was a lawyer, and his mother worked at a hospital. Kerimov graduated from high school in 1983 and enrolled in the Civil Engineering Department at Dagestan Polytechnic Institute in 1984, but his studies were interrupted by military service. After completing his service in 1986, he studied at Dagestan State University, graduating with a degree in financial accounting and economics in 1989.
Rise to Success
Kerimov began his career as an economist at the Eltav electrical plant in Makhachkala. He rose to Deputy Director General and started investing during the fall of the Soviet Union. In 1993, he managed relations between Eltav and Fedprombank. He later led the banking and trading company Soyuz-Finans in 1995. Kerimov acquired a 50% stake in Vnukovo Airlines. By late 1999, he bought a 55% stake in Nafta Moskva and restructured the company. He made investments in Gazprom and Sberbank. In 2005, Kerimov acquired JSC Polymetal, a major gold and silver mining company, and took it public in London in 2007. He invested in global banks, including Morgan Stanley, Goldman Sachs, and Deutsche Bank, before the 2008 financial crisis. Kerimov recovered financially by investing in Polyus Gold, Russia's largest gold producer.
Key Business Strategies
Kerimov's success is attributed to his ability to invest in assets with significant development potential. He acquired stakes in key Russian companies like Gazprom and Sberbank. A major achievement was his investment in Polyus Gold, which proved highly profitable. He used leveraged positions in systemic Russian assets and later in globally strategic resources. Kerimov's strategy included a rotation into commodities with global price leverage and the use of complex holding structures to preserve jurisdictional flexibility.
Philanthropy
Kerimov established the Suleyman Kerimov Foundation in 2007 to support initiatives that strengthen communities. The foundation has donated to mosque and church constructions and sent pilgrims to Mecca. Kerimov also supports educational initiatives and serves as the head of the supervisory board of the Russian Wrestling Federation. He has donated to several charity organizations.