Vagit Alekperov

$29.48 B

Ranked #77 in World

About Vagit Alekperov

Vagit Yusufovich Alekperov, a prominent Russian-Azerbaijani oil tycoon and ex-President of Lukoil, was born on September 1, 1950, in Baku. At his peak in April 2021, he was worth $19.6 billion—Russia's fifth richest person. An esteemed figure in the energy sector, Alekperov has been under international sanctions since Russia's 2022 Ukraine incursion. A philanthropist, he's also known for his passion for numismatics and founding the social entrepreneurship-supporting Our Future Foundation in 2007.

Born

September 01, 1950

Age

75 years

Source Of Wealth

Oil

Industries

Energy

Citizenship

Russia

Residence

Moscow

Education

Master of Science in Engineering, Azerbaijan Institute of Oil and Chemistry

Vagit Yusufovich Alekperov was born on September 1, 1950, in Baku, Azerbaijan SSR. He is a Russian-Azerbaijani businessman who rose to prominence as the former President of the oil company Lukoil, serving from 1993 to 2022.

Vagit Alekperov: Family

Alekperov is married to Larisa Victorovna Alekperova, and they have a son named Yusuf, born in 1990.

Vagit Alekperov: Career Highlights

Alekperov's career in the oil industry began after graduating from the Azerbaijan Oil and Chemistry Institute in 1974. He worked at Surgutneftegaz between 1979 and 1985, where he rose to the position of first deputy general director of Bashneft production company. In 1987, he became the general director of the newly created production company Kogalymneftegaz.

Alekperov's rise continued when he was appointed deputy minister of the Oil and Gas Industry of the Soviet Union in 1990, making him the youngest deputy energy minister in Soviet history. During this time, he played a crucial role in promoting the establishment of vertically integrated state-owned energy companies.

Vagit Alekperov: Companies

Alekperov's most notable achievement is his association with LUKoil, where he became president and chairman of the board in April 1993. Under his leadership, LUKoil grew into one of the largest oil companies in Russia. By 2002, Alekperov owned 10.4% of the company's shares. Although he resigned as head of the board of directors in 2000, he retained his position as president.

Alekperov's business ventures extended beyond LUKoil. He increased his stake in the company to 20.4% in 2008, becoming its largest shareholder. Additionally, LUKoil, under Alekperov's guidance, made significant acquisitions, including the American company Getty Petroleum Marketing in 2000, marking a milestone as the first Russian company to acquire an American company.

Alekperov also ventured into banking and media, co-owning IFD Kapital Group in 2006.

Vagit Alekperov: Major Achievements

Alekperov's leadership and strategic vision contributed to LUKoil's success and growth. He played a pivotal role in transforming LUKoil into a global energy giant, expanding its operations internationally and establishing partnerships with major oil companies worldwide.

Vagit Alekperov: Awards & Achievements

Alekperov's contributions to the oil industry and corporate citizenship have been widely recognized.

He was the first Russian citizen to receive the prestigious Woodrow Wilson Award in 2005 for his achievements in corporate citizenship. In 2020, he was honored with the "Dostlug" Order by Azerbaijani President Ilham Aliyev for his services to Azerbaijan-Russia relations.

Alekperov's dedication to the fuel and energy complex was further acknowledged when he received the Order "For Merit to the Fatherland" of the first degree in 2022. He is also a full member of the Russian Academy of Natural Sciences.

Vagit Alekperov: Personal Life & Legacy

Alekperov is known for his passion for numismatics, the study and collection of coins. He has established a private Museum of Numismatics, showcasing over 700 coins from various historical periods.

In 2023, Alekperov founded the WellTech company, which specializes in repairing LUKOIL wells.

Vagit Alekperov: Trivia

Alekperov's estimated net worth as of April 2021 was $19.6 billion, ranking him as the 94th wealthiest person in the world and the 5th in Russia. Previously, he owned a 36.8% stake in the football club Spartak Moscow and currently owns the superyacht builder Heesen Yachts.

Alekperov faced international sanctions due to Russia's invasion of Ukraine. In April 2022, he was sanctioned by Australia and the United Kingdom, leading to his resignation from the board of directors of Lukoil after 29 years. Canada imposed sanctions on Alekperov in May 2022, followed by New Zealand in October 2022.

Wealth History

Timeline

September 1, 1950

Vagit Yusufovich Alekperov is born in Baku, Azerbaijan SSR.

1974

Graduates from the Azerbaijan Oil and Chemistry Institute.

1979-1985

Works at Surgutneftegaz, rising to the position of first deputy general director of Bashneft production company.

1987

Becomes general director of the newly created production company Kogalymneftegaz.

1990

Appointed deputy minister of the Oil and Gas Industry of the Soviet Union, becoming the youngest deputy energy minister in Soviet history.

1990

Promotes the establishment of vertically integrated state-owned energy companies.

1990

Leads the Russian delegation during negotiations with British Petroleum.

April 1993

Becomes president and chairman of the board of LUKoil.

2000

LUKoil becomes the first Russian company to acquire an American company, Getty Petroleum Marketing.

2000

Resigns as head of the board of directors of LUKoil but retains his position as president.

2002

Owns 10.4% of LUKoil.

2006

Co-owns IFD Kapital Group.

2008

Increases his stake in LUKoil to 20.4%, becoming the company's largest shareholder.

April 2022

Sanctioned by Australia and the United Kingdom following Russia's invasion of Ukraine.

April 2022

Resigns from the board of directors of Lukoil after 29 years.

May 2022

Canada imposes sanctions on Alekperov.

October 2022

New Zealand sanctions Alekperov.

2023

Founds the WellTech company, which repairs LUKOIL wells.

Vagit Alekperov : FAQs

What is Vagit Alekperov's current net worth?

Vagit Alekperov's current net worth is $29.48 billion.

What is Vagit Alekperov's current global rank among billionaires?

Vagit Alekperov holds the 77th position globally among billionaires.

What is Vagit Alekperov's current ranking within the Russia?

Vagit Alekperov holds the 3rd position in Russia.

What was the change in Vagit Alekperov's net worth compared to the previous year?

Vagit Alekperov's net worth increased by 757.6 million dollars compared to the previous year 2025, when his net worth was 28.72 billion dollars.

What are Vagit Alekperov's main sources of wealth?

Vagit Alekperov's main source of income comes from Oil.

In which industry does Vagit Alekperov primarily operate?

Vagit Alekperov is primarily involved in the Energy industry.

What is Vagit Alekperov educational background?

Vagit Alekperov holds a Master of Science in Engineering from Azerbaijan Institute of Oil and Chemistry.

How old is Vagit Alekperov?

Vagit Alekperov is 75 years old.

How many children does Vagit Alekperov have?

Vagit Alekperov has 1 children.

How did Vagit Alekperov contribute to the Russian oil industry?

Vagit Alekperov worked at Surgutneftegaz, became the general director of Kogalymneftegaz, was the deputy minister of the Oil and Gas Industry of the Soviet Union, and played a pivotal role in establishing vertically integrated state-owned energy companies.

What are some of the impacts of international sanctions on Vagit Alekperov?

Due to international sanctions from the UK, Canada, Australia, and New Zealand following Russia's invasion of Ukraine, Vagit Alekperov resigned from the board of directors of Lukoil after 29 years.

What philanthropic efforts has Vagit Alekperov been involved in?

Vagit Alekperov founded The Foundation 'Our Future' to support social entrepreneurship in Russia, plans to transfer his stake in Lukoil to a charitable foundation, and donated significantly during the 2020 coronavirus pandemic.