Vagit Alekperov Net Worth (Updated 2024)

What is Vagit Alekperov’s Net Worth?

Vagit Alekperov is a Russian-Azerbaijani billionaire businessman who was the former president of the Russian oil company Lukoil from 1993 to 2022. As of 2024, his net worth is estimated to be around $28.6 billion.

The majority of Alekperov’s fortune is derived from his 28.3% stake in Lukoil, one of the largest publicly traded oil and gas companies in the world. Lukoil reported revenue of around $86.3 billion in 2023. Alekperov has been a regular buyer of Lukoil stock since the 1990s and is estimated to have collected over $5 billion in dividends from the company over the years.

In addition to his stake in Lukoil, Alekperov previously owned the Dutch superyacht builder Heesen Yachts, which he purchased in 2008 for around $150 million before reportedly selling it in 2022 due to sanctions imposed on him by several countries over Russia’s invasion of Ukraine.

Despite the sanctions, Alekperov’s net worth has continued to grow in recent years, largely due to high energy prices benefiting Lukoil’s business. He topped the list of Russia’s richest billionaires in 2024, surpassing fertilizer tycoon Andrei Melnichenko.

Here’s the breakdown of Vagit Alekperov’s net worth:

Name:

Vagit Alekperov

Net Worth:

$28.6 Billion

Date of Birth:

Sep 1, 1950

Profession:

Businessperson

If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.

Vagit Alekperov

Early Life

Vagit Yusufovich Alekperov was born on September 1, 1950, in Baku, Azerbaijan SSR, USSR. Baku, known as one of the earliest centers of the international petroleum industry, played a significant role in shaping Alekperov’s future career. His father, an Azerbaijani Muslim, worked in the oilfields and inspired Alekperov to follow in his footsteps. His mother was Russian Orthodox, and Alekperov himself is religious but does not define himself strictly as either Muslim or Orthodox.

Alekperov graduated from the Azerbaijan Oil and Chemistry Institute in 1974 with a degree in engineering. His early career began in the oil fields of the Caspian Sea, where he worked as a drill operator and later as a team leader and deputy chief in various oil production companies in Western Siberia.

Career

Alekperov’s career in the oil industry is marked by significant achievements and rapid ascension through the ranks. After working at Surgutneftegaz between 1979 and 1985, he became the first deputy general director of Bashneft production company. In 1987, he was appointed general director of the newly created production company Kogalymneftegaz.

In 1990, Alekperov was appointed deputy minister of the Oil and Gas Industry of the Soviet Union, becoming the youngest deputy energy minister in Soviet history. During this time, he promoted the establishment of vertically integrated state-owned energy companies, which laid the groundwork for his future endeavors.

In 1991, Alekperov founded Lukoil, one of the first attempts by the Russian government to privatize state enterprises. Under his leadership, Lukoil grew into one of the largest oil companies in Russia and the world.

Alekperov served as the president of Lukoil from 1993 until his resignation in 2022. His strategic vision and management skills were instrumental in Lukoil’s expansion, including significant acquisitions such as Getty Petroleum Marketing in 2000.

Personal Life

Vagit Alekperov is married to Larisa Victorovna Alekperova, and they have a son named Yusuf, born in 1990. Alekperov’s personal interests include numismatics, and he is known to have a significant collection of coins, although the exact composition of his collection is not publicly known.

Alekperov has also been involved in various philanthropic efforts. In 2007, he founded The Foundation “Our Future” to promote social entrepreneurship in Russia. He has publicly stated that, according to his will, his stake in Lukoil will be transferred to a specially created charitable foundation.

During the 2020 coronavirus pandemic, Lukoil donated significant funds to various regions, and Alekperov personally donated RUB 50 million to fight the pandemic in the Republic of Komi.

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