Born on September 1, 1950 in Baku (Azerbaijan), Alekperov currently serves as the President of LUKoil, the leading Russian oil company. LUKoil was established by combining 3 large oilfields controlled by the ministry in the Soviet Union. Alekperov is the principal shareholder of this company.
ExxonMobil used to be the second-largest shareholder of LUKoil until it sold out in 2010. Alekperov bought some shares of the company on borrowed money and sold 3% of them when the share prices improved. With this maneuver, he found himself richer by $350 million.
Educated at the Azerbaijan Oil and Chemistry Institute, Vagit claims to be religious but does not identify himself as either Russian Orthodox or Muslim. He had the honor of serving as the youngest deputy energy minister of the Soviet Union in 1990. Like his peers, he has diversified into media and banking. In 2006, he was one of the major owners of IFD Kapital Group. He is also the author of a book titled Oil of Russia: Past, Present, and Future.
Currently, LUKoil is preparing the West Qurna-2 oilfield in Iraq. This is one of the biggest deposits of oil in the world today. LUKoil aimed to begin extracting oil from this oilfield latest by April 2014. Alekperov sold his financial assets to Financial Corporation Otkrytie, the ownership of which is held by Vadim Belyaev.
Alekperov Family Profile
Let us read more about the family tree of Vagit Alekperov’s family.
Vagit Alekperov Parents – Names Unknown
Alekperov was born in Baku to a Muslim father (Yusufovich) and a Russian Orthodox mother. His father was an oilman and died when Alekperov was very young. His mother struggled to raise him as a single parent. At the young age of 18, Alekperov stepped out of the house to start earning. He landed a job as a drilling operator at Kaspmorneft, a regional oil production company in the Caspian. He moved up through the ranks until he became known as an oil tycoon.
Vagit Alekperov Siblings – Unknown
Alekperov was the youngest of five siblings. There is not much information about them.
Vagit Alekperov Spouse – Larisa Victorovna Alekperova
Born – Unknown
Very little is known of Alekperov’s wife.
Children of Vagit Alekperov and Larisa Victorovna Alekperova
Name – Yusuf Alekperova
Born on – 1990
Alekperov’s only son is the heir to his stake in LUKoil, which is nearly 21%. However, Alekperov has added the warning that Yusuf does not have the right to sell the stake. Thus, Alekperov’s family will remain the majority shareholder of LUKoil.
Alekperov Family Networth
According to Forbes, Vagit Alekperov is worth US$12.1 billion (October 2014). He ranks #91 on the World’s Billionaires list, #76 on the Forbes’ Billionaires list, and is the 7th richest man in Russia. His company, LUKoil, is the 1st Russian company to acquire an American organization. In 2000, LUKoil took on Getty Petroleum Marketing and gained all of its 1,300 gas stations in America.