Vagit Alekperov

Template:Short description Template:Use dmy dates Template:Family name hatnote Template:Infobox person Vagit Yusufovich Alekperov (Template:Langx, Template:Langx; born 1 September 1950) is a Russian businessman of Azerbaijani origin and an oligarch. He was the president of the oil company Lukoil from 1993 until 2022.<ref>Template:Cite web</ref><ref name="resigns">Template:Cite web</ref>

As of March 2025, according to the Forbes magazine, Alekperov has an estimated net worth of Template:US$, making him the wealthiest person in Russia and the sixty-third in the world.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> Alekperov previously owned a 36.8% stake in football club Spartak Moscow.<ref>Template:Cite web</ref> Fellow former Spartak owner Leonid Fedun is Alekperov's close associate. Alekperov also owned superyacht builder Heesen Yachts until 2022.<ref>Template:Cite web</ref>

As part of the international governmental responses to the Russian invasion of Ukraine, the United Kingdom, Canada, Australia and New Zealand have imposed sanctions against Alekperov.<ref name=":0">Template:Cite web</ref><ref name=":1">Template:Cite news</ref><ref name=":2">Template:Cite news</ref><ref>Template:Cite web</ref>

Biography

Alekperov was born on 1 September 1950, in Baku, Azerbaijan SSR, one of the earliest centers of the international petroleum industry. His father, who died when Vagit was a boy, worked in the oilfields all his life and inspired Alekperov to follow in his footsteps. Alekperov's father was an Azerbaijani Muslim, and his mother was Russian Orthodox. Alekperov is religious, but does not define himself as either Muslim or Orthodox.<ref name=petermaass.com>Template:Cite news</ref>

In 1974, Alekperov graduated from the Azerbaijan Oil and Chemistry Institute with a Master of Science in Engineering.<ref name=":3">Template:Cite book</ref>

Western Siberia

Alekperov moved to Western Siberia in 1979 and worked at Surgutneftegaz between 1979 and 1985, earning his reputation as an industry expert. He was ascending positions and by 1985 became the first deputy general director of Bashneft production company. In 1987, he became general director of the newly created production company Kogalymneftegaz.<ref name=":3" />

Moscow

In 1990, Alekperov was appointed deputy minister of the Oil and Gas Industry of the Soviet Union and became the youngest deputy energy minister in Soviet history.<ref name=":3" /> At that time, Alekperov promoted the establishment of vertically integrated state-owned energy companies, which would bring together the wide range of organizations in the energy sector that were, at the time, reporting to different Soviet bureaucratic institutions.<ref>Template:Cite web</ref>

At this time, Western oil companies began actively seeking partners in Russia. During a visit to British Petroleum facilities in the United Kingdom in 1990, Alekperov personally headed the Russian delegation at the negotiations. Rondo Fehlberg, an executive at BP, told NY Times that Alekperov took control of the agenda during that 1990 trip, sternly asking the BP executives to explain how a modern oil company should be set up.<ref name="Maass">Template:Cite news</ref>

LUKoil

In April 1993, Langepas-Uray-Kogalymneft became the joint-stock company LUKOIL, and Alekperov became its president and chairman of the board. By 2002, Alekperov owned 10.4% of the company.<ref name="Maass"/>

In 2000, Alekperov resigned as head of the board of directors of Lukoil, but retained his position as president of the company. In May 2008, Alekperov bought 11.13 million shares (1.3%) in Lukoil, thereby increasing his stake to 20.4% and becoming the company's largest shareholder.<ref>Template:Cite web</ref>Template:Efn

LUKoil was the first Russian company to acquire an American company. In November 2000, LUKoil acquired Getty Petroleum Marketing and its 1,300 gas stations in the United States<ref>Template:Cite web</ref> Like many other Russian oligarchs, Alekperov has also moved into banking and media. In May 2006 Alekperov was one of the two main owners of IFD Kapital Group.<ref>Template:Cite news</ref>

During at least three meetings in Turkey and London in 2014 and 2015, executives associated with Alekperov's firm Lukoil allegedly questioned persons at the Alexander Nix associated firms SCL Group, which is closely associated with Aleksandr Kogan, and Cambridge Analytica, which is closely associated with Steve Bannon, who supported Donald Trump's 2016 campaign for President of the United States, and Robert Mercer, who supported Ted Cruz's campaign for President of the United States, about how United States election data about American voters could be used to target them according to Christopher Wylie.<ref>Template:Cite news</ref><ref>Template:Cite news archive Template:Webarchive</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref>

In 2018, Alekperov first mentioned in an interview that he was looking for a successor to his position, stating that a staff reshuffle could take place at the company in 2023.<ref>Template:Cite web</ref>

Alekperov is on the 2017 list of Russian "oligarchs" named in the CAATSA unclassified report to the U.S. Congress.<ref>Template:Cite web</ref>

International sanctions

In April 2022, following Russia's invasion of Ukraine, Alekperov was sanctioned by Australia and the United Kingdom.<ref name=":0" /><ref name=":1" /> On 21 April, Lukoil issued a statement saying that Alekperov had stepped down and resigned from the board of directors after 29 years.<ref name="resigns"/>

In May 2022, Canada also imposed sanctions on Alekperov.<ref name=":2" /> In October 2022, New Zealand sanctioned Alekperov.<ref>Template:Cite web</ref>

Personal life

Alekperov is married to Larisa Victorovna Alekperova and has a son, Yusuf, born in 1990.<ref>Template:Cite news</ref> In 2023 he founded the WellTech company, which is engaged in the repair of LUKOIL wells.<ref>Template:Cite web</ref>

Alekperov's hobby is numismatics. The exact composition of his collection is unknown, but according to some reports, it is one of the three largest private collections in Russia. In 2015, Alperov established a private Museum of Numismatics in the Zinoviev-Yusupov chambers in Moscow. It has more than 700 coins on display, about a quarter of the entire collection. The exposition consists of gold, silver, and platinum coins minted in Classical antiquity, the Byzantine Empire, the European Middle Ages, the Russian Empire, and the USSR.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Philanthropy

In 2007, Alekperov founded The Foundation "Our Future" to promote social entrepreneurship in Russia.<ref>Template:Cite web</ref>

Alekperov has repeatedly stated publicly and has confirmed that, according to his will, his stake in Lukoil (over 20% of the company) will be transferred to a specially created charitable foundation.<ref>Template:Cite web</ref>

In 2020 coronavirus pandemic, Lukoil has donated more than RUB 652 million in 22 Russian regions and almost $900 000 dollars in its operation countries abroad.<ref>Template:Cite web</ref> Alekperov also donated RUB 50 million of personal finances to fight coronavirus in the Republic of Komi.<ref>Template:Cite web</ref>

Awards and honorary titles

Alekperov was the first Russian citizen to receive the Woodrow Wilson Award. He was honored in 2005 for achievements in corporate citizenship.<ref>Template:Cite web</ref>

On 31 August 2020, ahead of Vagit Alekperov's 70th jubilee, Azerbaijani President Ilham Aliyev awarded him with the "Dostlug" Order for his special services rendered to the development of mutual relations between Azerbaijan and the Russian Federation.<ref>President Ilham Aliyev awards Lukoil CEO, AzerNews, 31 August 2020, Retrieved 4 September 2020</ref>

On 4 May 2022, Alekperov received the Order "For Merit to the Fatherland" of the first degree for "great contribution to the development of the fuel and energy complex and many years of diligent work".<ref>Template:Cite web </ref>

Vagit Alekperov is also a full member of the Russian Academy of Natural Sciences.<ref>Template:Cite web</ref>

See also

• List of Azerbaijanis
• List of Russian billionaires

External links

• Biography of Vagit Alekperov Template:In lang
• (WSJ) Lukoil Executive's Death Exposes Network of Inside Deals, by Glenn R. Simpson, December 6th, 2006
• Business Russia