⬅ # 255 Wang Xing|# 257 David Green

# 256 Suleiman Kerimov 

$9.39B

Real Time Net Worth
as of 4/23/2024
$23.9M (0.25%)

# 256 Suleiman Kerimov 

$9.39B

Real Time Net Worth
as of 4/23/2024
$23.9M (0.25%)
OccupationOwner, Polyus
Source of WealthGold
Age58
ResidenceMoscow, Russia
Marital StatusMarried
Children3
EducationMaster of Economics, Dagestan State University
Age-Adjusted Net Worth$10.8B
Suleiman Kerimov
Suleiman Kerimov
Russia
Net worth: $9.39B

Self-Made Score 

Wealth History

Hover or tap to reveal net worth by year
Loading Chart

Biography

Overview

Suleiman Kerimov is a billionaire hailing from Dagestan and has represented the republic in Russia's Federation Council since 2008.
A trained economist, Kerimov built his career by investing in distressed assets within Russia.
In 2018, he faced sanctions from the U.S., and in March 2022, the EU and UK also imposed sanctions on him.
Kerimov gained profits through strategic investments in Sberbank and Gazprom shares.
Before the 2008 financial meltdown, he cashed out and heavily invested in global banks such as Morgan Stanley, Goldman Sachs, and Deutsche Bank, resulting in significant losses due to margin calls.
To recover, Kerimov shifted his focus to Polyus, Russia's largest gold producer, acquiring a 37% stake for $1.3 billion from billionaire Vladimir Potanin.
In 2015, facing a law prohibiting politicians from holding financial assets abroad, he transferred shares in Polyus to his son, Said Kerimov.
As of the beginning of 2022, Kerimov's family owned 76% of Polyus.
In April 2022, Said Kerimov faced sanctions from the EU and UK, leading to the transfer of his stake in Polyus to a former colleague of his father's and the Islamic Organisations Support.

Financial Ventures

Suleiman Kerimov strategically invested in distressed assets within the Russian market, earning profits from Sberbank and Gazprom shares.
He suffered significant financial losses during the 2008 financial meltdown after cashing out and heavily investing in global banks like Morgan Stanley, Goldman Sachs, and Deutsche Bank.
Kerimov successfully recovered by focusing on Polyus, Russia's largest gold producer, acquiring a 37% stake for $1.3 billion from Vladimir Potanin.

Polyus Ownership and Transfers

Kerimov's family formerly held about three-quarters of Polyus, Russia's largest gold producer.
In 2015, to comply with a law preventing politicians from holding financial assets abroad, Kerimov transferred shares in Polyus to his son, Said Kerimov.
As of the beginning of 2022, Kerimov's family maintained ownership of 76% of Polyus.
In April 2022, Said Kerimov, facing sanctions from the EU and UK, transferred his stake in Polyus to Akhmet Palankoyev and the Fund for the support of Islamic foundations.

How long would it take you to become as rich as Suleiman Kerimov?

If you started with $10,000 and invested an additional $500 each month at a 43.95% CAGR, it would take you 5 years to reach Suleiman Kerimov's net worth of $9.39B.

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 34.07% compared to 5.08% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Suleiman Kerimov 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 Suleiman Kerimov, Gold 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