⬅ # 506 Ruan Liping|# 508 Dan Friedkin

# 507 Mikhail Lomtadze 

$5.85B

Real Time Net Worth
as of 7/12/2024

# 507 Mikhail Lomtadze 

$5.85B

Real Time Net Worth
as of 7/12/2024
OccupationCEO, Kaspi.kz
Source of WealthFintech
Age48
ResidenceAlmaty, Kazakhstan
Marital StatusSingle
EducationMBA, Harvard Business School
Age-Adjusted Net Worth$13.2B
Mikhail Lomtadze
Mikhail Lomtadze
Georgia
Net worth: $5.85B

Self-Made Score 

Wealth History

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Biography

Overview

Mikhail Lomtadze, a former private equity investor at Baring Vostock, ascended to become CEO of Kaspi after Baring Vostock's investment in the company in 2006.
Kaspi, the leading digital payments and banking service in Kazakhstan, achieved a $6.5 billion valuation upon its listing on the London Stock Exchange in October 2020.
Lomtadze spearheads Kaspi.kz, the biggest fintech and payments group in Kazakhstan, offering online payment, shopping, and personal finance services in Kazakhstan and Azerbaijan.
Kaspi.kz boasts around $15 billion in assets as of 2023 and operates a two-sided super app business model, akin to Tencent's WeChat, providing a wide range of integrated services to consumers and merchants.
Lomtadze compares Kaspi.kz to Tencent and WeChat, emphasizing its mobile-centric approach and comprehensive service offerings, including digital wallets, marketplace, e-commerce, and financial services.
Kaspi.kz aims to capitalize on Kazakhstan's fast-growing population and robust economy, positioning itself as a central player in the country's fintech landscape.

Early Life and Education

Mikhail Lomtadze's early life and education details are not available in the provided sources.

Career

Lomtadze transitioned from private equity to the helm of Kaspi after Baring Vostock's investment in the company in 2006.
Under Lomtadze's leadership, Kaspi evolved into the largest payments, marketplace, and fintech firm in Kazakhstan, with a significant portion of the population engaging with its super app.
Kaspi's January IPO raised $1.04 billion, with shares experiencing a notable surge post-IPO, reflecting investor confidence in the company's prospects.

Achievements and Impact

Kaspi's success under Lomtadze's leadership is evidenced by its $6.5 billion valuation upon listing on the London Stock Exchange and its subsequent growth trajectory.
Kaspi.kz's super app model, likened to Tencent's WeChat, has reshaped the fintech landscape in Kazakhstan, offering consumers and merchants a comprehensive suite of digital services.
Lomtadze's vision for Kaspi.kz aligns with the evolution of fintech globally, with a focus on mobile-centric solutions, e-commerce integration, and financial inclusion.
Kaspi.kz's IPO marked a significant milestone, raising over $1 billion and positioning the company for further expansion and innovation in the fintech sector.

Personal Life and Philanthropy

Details about Mikhail Lomtadze's personal life and philanthropic activities are not available in the provided sources.

How long would it take you to become as rich as Mikhail Lomtadze?

If you started with $10,000 and invested an additional $500 each month at a 44.15% CAGR, it would take you 5 years to reach Mikhail Lomtadze's net worth of $5.85B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 51.86% compared to 19.03% for the S&P 500 benchmark.

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Mikhail Lomtadze is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Mikhail Lomtadze, Fintech is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey