Timur Kulibayev
Timur Kulibayev | |
|---|---|
| Born | Timur Askaruly Kulibayev September 10, 1966 Alma-Ata, Kazakh SSR, USSR |
| Occupation(s) | Entrepreneur, Businessman |
| Years active | 1988–present |
| Known for | Leading figure in Kazakhstan's oil and gas industry; former head of Samruk-Kazyna; member of Gazprom board (2011–2022) |
Timur Askaruly Kulibayev (, born 10 September 1966) is a leading Kazakh entrepreneur and the son-in-law of former Kazakh president Nursultan Nazarbayev. Often referred to as Kazakhstan's "Oil Prince," Kulibayev maintains close connections with the nation's political elite and state-controlled energy enterprises.
Throughout his father-in-law's tenure, Kulibayev occupied multiple high-ranking positions within government bodies and state-owned companies managing Kazakhstan’s natural resource sector, exerting considerable influence over the country’s hydrocarbon industry. He previously headed Samruk-Kazyna, the nation’s sovereign wealth fund, and was a member of the Board of Directors at Gazprom, Russia’s largest energy corporation, from 2011 until 2022. In 2020, the Financial Times revealed Kulibayev’s alleged involvement in schemes that diverted tens of millions of dollars from government pipeline contracts.
The combined fortune of Kulibayev and his spouse surpasses $10 billion. The Daily Telegraph has characterized him as "the most significant business figure" in Kazakhstan.
Early life and education
Born on 10 September 1966 in Alma-Ata (present-day Almaty), Kazakh SSR, USSR, Kulibayev is the son of a Communist Party official. He graduated in 1988 from Lomonosov Moscow State University with a specialization in "National Economy Planning." In 1999, he earned a PhD focusing on enhancing enterprise management mechanisms under market conditions, with an emphasis on the oil sector.
Business career
Between 1988 and 1992, Kulibayev served as a junior research assistant at the Scientific-Research Economics Institute affiliated with the State Plan of Kazakh SSR and directed the Scientific-Consulting Center for Kazakhstan’s Fund for Cultural, Social, Scientific and Technological Development. From 1992 to 1995, he was at the helm of the Altyn-Alma concern, which later evolved into Almex holding.
In 1995, Kulibayev co-established Almaty Trade and Financial Bank, where he assumed the role of Chairman of the Supervisory Board and participated in its Credit Committee. He held the position of Vice President for Economics and Finance at Kazakhoil from 1997 to 1999. In 1999, he took charge of KazTransOil CJSC, overseeing Kazakhstan’s principal oil pipeline network. Subsequently, he led CJSC National Oil and Gas Transport Company (2001–2002) and acted as First Vice President of JSC National Company KazMunayGas from 2002 to 2005. His tenure included serving on KazMunayGas’s board (2006–2007) and chairing it (2009–2012), during which he was instrumental in acquiring an 8.33% stake in the North Caspian project from British Gas, securing KazMunayGas’s participation in developing the Kashagan field. Under his guidance, oil reserves grew, hydrocarbon transportation routes expanded, and refining capabilities improved.
From 2005 until 2013, Kulibayev provided advisory services to President Nursultan Nazarbayev. His executive roles within National Welfare Fund Samruk-Kazyna JSC included Deputy Chairman (2006–2007), Chairman of the Board (2008–2011), and leadership positions on subsidiary boards such as Kazatomprom (2008–2012), Kazakhstan Temir Zholy (2009–2011), and Samruk-Energo (2009–2011). Additionally, he served on KEGOC’s board from 2006 to 2011, chairing it starting in 2008.
Kulibayev joined Gazprom’s board in 2011 but stepped down in March 2022. Since June 2008, he has been Chair of the Kazakhstan National Committee of the World Petroleum Council.
In 2020, allegations surfaced via the Financial Times concerning schemes by Kulibayev’s associates to siphon tens of millions from state pipeline contracts; these accusations were denied by Kulibayev.
Following the 2022 Kazakh unrest, both Kulibayev and his wife Dinara experienced losses amounting to $200 million due to a 16% decline in Halyk Bank shares on the London Stock Exchange.
His appointment to Gazprom’s board highlighted not only Kazakhstan-Russia strategic economic relations but also recognized his professional standing as head of Samruk-Kazyna Fund.
Public Engagements
From 2005 until 2023, Timur Kulibayev served as the head of the Kazakh Association of Organizations of the Oil and Gas and Energy Complex, known as Kazenergy. This organization promotes collaboration between private sector investors and government bodies, bringing together both domestic and international energy corporations operating within Kazakhstan.
He led the Kazakhstan Boxing Federation from 2009 to 2024, a period during which the national boxing team earned several Olympic medals, including gold medals at the 2012 and 2016 Olympic Games.
In 2010, Kulibayev was appointed Chairman of the Presidium for the National Economic Chamber of Kazakhstan, referred to as the "Atameken Union." Additionally, he was a member of the Executive Committee of Kazakhstan’s National Olympic Committee between 2010 and 2015.
His involvement expanded internationally in 2012 when he took on the role of Vice President and Executive Committee member of the International Amateur Boxing Association (AIBA). Between 2012 and 2016, he also chaired the Confederation of Combat and Power Sports, which supervises federations for boxing, wrestling, weightlifting, and judo.
In 2013, Kulibayev was elected Chairman of the Presidium of the National Chamber of Entrepreneurs, an entity established by the government to foster business growth. He maintained this position until January 2022, actively liaising with companies and government officials across the country.
From 2015 through 2024, he held the office of President and Chairman of the Executive Committee for Kazakhstan’s National Olympic Committee Public Association. Concurrently, from 2016 to 2019, he presided over the Swimming Sports Federation of Kazakhstan.
His leadership roles extended to continental sports organizations in 2016 when he became Vice President and Executive Committee member of the Olympic Council of Asia (OCA). Between 2017 and 2019, he contributed to the International Olympic Committee’s Public Affairs and Social Development Through Sport Commission (PASD), later joining its successor commission, IOC Olympism 365, in 2022.
Kulibayev was part of the Presidium for the Kazakhstan Golf Federation from 2018 to 2023. In addition, since 2018, he has been a member of the Executive Committee for the Association of National Olympic Committees (ANOC).
Personal Background
Timur Kulibayev is married to Dinara Nursultanovna Kulibaeva (née Nazarbayeva), who is the daughter of Kazakhstan’s long-serving president Nursultan Nazarbayev. The couple has three children. His real estate holdings are extensive and include properties located in countries such as the United Kingdom, Switzerland, Germany, and Spain. As of 2025, reports indicate that he owned eight separate properties within Spain.
In a notable real estate transaction in 2007, Kulibayev partnered with Kazakh investor Kenes Rakishev to purchase Sunninghill Park, a former residence of Prince Andrew, Duke of York. The acquisition price was $19.7 million—$4 million above its listed value despite no competing offers. The original structure was demolished in 2016 and replaced by a new mansion featuring fourteen bedrooms.
Kulibayev is an avid supporter of sports activities including golf, skiing, and football. He possesses fluency in Kazakh, Russian, and English.
Honors
- Order of Kurmet (Honor) (2001)
- Jubilee Medal commemorating "10th Anniversary of the Constitution of the Republic of Kazakhstan" (2005)
- Order of Friendship (Russia, 2007) — awarded for fostering cooperation between Russia and Kazakhstan in fuel and energy sectors
- Jubilee Medal marking "10th Anniversary of Astana" (2008)
- Order of Barys (Leopard), III Degree (2009)
- Order of Al-Fakhr (Honor) granted by the Council of Muftis in Russia (2010)
- Order of the Holy Prince Daniel of Moscow, II Degree (Russian Orthodox Church, 2010)
- Jubilee Medal celebrating "20th Anniversary of Independence of the Republic of Kazakhstan" (2011)
- Badge titled "Honorary Railwayman" awarded by CIS (2011)
- Order of Barys (Leopard), I Degree (2014)
- Jubilee Medal commemorating "25th Anniversary of Independence of the Republic of Kazakhstan" (2016)
- Badge recognizing "Honored Worker in Oil and Gas Industry" (2020)
- Order of Otan (Fatherland) (2021)
- Order of Enbek Ushin ("For Labors") bestowed by Head of Metropolitan District Russian Orthodox Church in Kazakhstan (2021)