Basic Information
- Full name: Vagit Yusufovich Alekperov
- Date of birth: September 1, 1950
- Place of birth: Baku, Azerbaijan SSR (now Azerbaijan)
- Nationality: Russian (of Azerbaijani origin)
- Profession: Businessman, investor, oil executive
- Known for: Founder and longtime president of LUKOIL, one of the world's largest private oil companies.
Early Life
Vagit Alekperov was born into a family closely connected to the oil industry. His father worked in the oil fields and died when Alekperov was young, inspiring him to pursue a career in petroleum engineering. He graduated from the Azerbaijan Oil and Chemistry Institute (now Azerbaijan State Oil and Industry University) with an engineering degree in 1974.
Career
Early Oil Industry Work
He began working as a drilling operator while still a student and steadily rose through engineering and management positions in the Caspian region and later in Western Siberia. By 1990, he had become the youngest Deputy Minister of the Soviet Union's Oil and Gas Industry.
Founding LUKOIL
In the early 1990s, Alekperov helped create LUKOIL, formed by merging three major oil-producing enterprises—Langepas, Urai, and Kogalym (giving the company its name).
He served as:
- President (1993–2022)
- Chief Executive Officer for nearly three decades
- Largest individual shareholder of the company during much of that period.
Wealth
According to Forbes, Alekperov has consistently ranked among Russia's wealthiest individuals. As of 2025, his estimated net worth was about $28.7 billion, making him Russia's richest person at that time.
Business Interests
Beyond LUKOIL, Alekperov has invested in several sectors, including:
- Energy
- Shipping
- Financial investments
- Industrial companies
He also previously owned:
- A major stake in Spartak Moscow football club
- Heesen Yachts, a Dutch luxury yacht builder (sold in 2022).
Philanthropy
Alekperov established the Our Future Foundation in 2007 to promote social entrepreneurship in Russia.
He has also stated that his substantial stake in LUKOIL is intended to be transferred to a charitable foundation under his estate plans. During the COVID-19 pandemic, he and LUKOIL donated significant funds and medical equipment to support healthcare efforts.
Awards & Recognition
He has received numerous honors, including:
- Order "For Merit to the Fatherland"
- Order of Friendship
- Order of the Badge of Honour
- International awards recognizing his contributions to the energy industry and corporate leadership.
Sanctions
Following Russia's invasion of Ukraine in 2022, Alekperov was sanctioned by several countries, including the United Kingdom, Canada, Australia, and New Zealand. Shortly afterward, he resigned as president and stepped down from the board of LUKOIL.
Personal Life
- Spouse: Larisa Victorovna Alekperova
- Children: One son, Yusuf
- Hobbies: Numismatics (coin collecting)
Alekperov founded a private Museum of Numismatics in Moscow, showcasing a large collection of historic gold, silver, and platinum coins.
Leadership Style
Alekperov is known for:
- Long-term strategic planning
- Technical expertise in petroleum engineering
- Building vertically integrated energy companies
- Maintaining a relatively low public profile compared with many other billionaires.
Quick Facts
| Category | Details |
|---|---|
| Full Name | Vagit Yusufovich Alekperov |
| Born | September 1, 1950 |
| Birthplace | Baku, Azerbaijan SSR (now Azerbaijan) |
| Nationality | Russian (Azerbaijani origin) |
| Industry | Oil and Gas |
| Famous For | Founder and former president of LUKOIL |
| Education | Azerbaijan State Oil and Industry University |
| Estimated Net Worth (2025) | About $28.7 billion |
| Philanthropy | Founder of the Our Future Foundation |
| Notable Hobby | Coin collecting (numismatics) |
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