⬅ # 57 Germán Larrea Mota Velasco|# 59 William Ding

# 58 Vagit Alekperov 


Real Time Net Worth
as of 7/12/2024
$143 (0.00%)

# 58 Vagit Alekperov 


Real Time Net Worth
as of 7/12/2024
$143 (0.00%)
OccupationChair, Basic Element Company
Source of WealthOil
ResidenceMoscow, Russia
Marital StatusMarried
EducationMS in Engineering, Azerbaijan Institute of Oil and Chemistry
Age-Adjusted Net Worth$12.1B
Vagit Alekperov
Vagit Alekperov
Net worth: $29.1B

Self-Made Score 

Wealth History

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Vagit Yusufovich Alekperov was born on 1 September 1950, in Baku, Azerbaijan SSR.
His father, who worked in the oilfields, inspired Alekperov to follow in his footsteps.
Alekperov's father was an Azerbaijani Muslim, and his mother was Russian Orthodox.
In 1974, Alekperov graduated from the Azerbaijan Oil and Chemistry Institute.
He moved to Western Siberia in 1979, working at Surgutneftegaz and earning a reputation as an industry expert.
By 1985, he became the first deputy general director of Bashneft production company.
In 1987, Alekperov became the general director of the newly created production company Kogalymneftegaz.
In 1990, he was appointed deputy minister of the Oil and Gas Industry of the Soviet Union, becoming the youngest deputy energy minister in Soviet history.
During a 1990 visit to British Petroleum facilities, Alekperov headed the Russian delegation, actively participating in negotiations.
In April 1993, Langepas-Uray-Kogalymneft became LUKOIL, and Alekperov became its president and chairman of the board.
By 2002, Alekperov owned 10.4% of LUKOIL.
In 2000, he resigned as head of the board of directors of Lukoil but retained his position as president of the company.
In May 2008, Alekperov increased his stake in Lukoil to 20.4%, becoming the company's largest shareholder.
LUKoil, under Alekperov, was the first Russian company to acquire an American company, Getty Petroleum Marketing, in November 2000.
In May 2006, Alekperov became one of the two main owners of IFD Kapital Group, expanding into banking and media.
In 2018, Alekperov expressed the intention to find a successor for his position, with a possible reshuffle in 2023.
Alekperov is on the 2017 list of Russian 'oligarchs' named in the CAATSA unclassified report to the U.S. Congress.

International Sanctions

In April 2022, Alekperov was sanctioned by Australia and the United Kingdom following Russia's invasion of Ukraine.
On 21 April, Lukoil issued a statement saying Alekperov had stepped down and resigned from the board of directors after 29 years.
In May 2022, Canada imposed sanctions on Alekperov.
In October 2022, New Zealand also sanctioned Alekperov.

Personal Life

Alekperov is married to Larisa Victorovna Alekperova and has a son, Yusuf, born in 1990.
In 2023, he founded the WellTech company, engaged in the repair of LUKOIL wells.
Alekperov's hobby is numismatics, and his private Museum of Numismatics has over 700 coins on display, about a quarter of his entire collection.
The collection mainly consists of gold coins from antiquity to modern Russia, some silver coins, and a few platinum coins of the Russian Empire.

How long would it take you to become as rich as Vagit Alekperov?

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 Vagit Alekperov's net worth of $29.1B.

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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Vagit Alekperov 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 Vagit Alekperov, Oil 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