Bulat Utemuratov

Early Life and Education

Bulat Zhamituly Utemuratov was born on November 13, 1957, in the Kazakh SSR, USSR. His father was a prosecutor and his mother worked as an accountant. Utemuratov graduated from the Faculty of Economics of the Almaty Institute of National Economy in 1981.

Rise to Success

Utemuratov's career began in the 1980s. After Kazakhstan gained independence in 1991, he was selected by President Nursultan Nazarbayev to seek economic opportunities. He helped broker Kazakhstan's first line of credit with Bank Creditanstalt. In 1995, Utemuratov founded the Almaty Trade and Finance (ATF) Bank, becoming its controlling shareholder by 2007. He later sold ATF Bank to UniCredit Group for $2.2 billion in 2007. Utemuratov also served as the ambassador to Switzerland from 1996 to 1999 and held various government positions, including advising the President on economic affairs.

Key Business Strategies

Utemuratov is known for his strategic investments in diverse sectors. He acquired 88% of ForteBank in 2014 and owns the Burger King franchise in Kazakhstan. He is a key investor in projects managed by Verny Capital, including telecommunications operators Kar-Tel and Sky Mobile. He has also been involved in the sale of Kazzinc to Glencore for $1.4 billion.

Philanthropy

Utemuratov established the Bulat Utemuratov Foundation in 2014, allocating over $150 million to charitable projects. Key initiatives include the "Autism. One World for All" program, providing support for autistic children, and various projects in healthcare, education, and culture. His foundation has also provided significant aid, including $5 million in relief to Turkey after the devastating earthquake in 2023.