Early Life
Igor Viktorovich Makarov was born on April 5, 1962, in Ashgabat, Turkmen SSR, Soviet Union. He was the only child in his family. From 1979 to 1986, Makarov was a competitive cyclist, winning medals and awards as a member of the Soviet team. In 1983, he graduated from Turkmen State University.
Rise to Success
After his cycling career, Makarov entered the business world, founding the Itera International Group in 1992, which was based in the U.S. and Cyprus. The company initially focused on food supply to Turkmenistan but later entered the energy sector. Under Makarov's leadership, Itera became a significant supplier of natural gas to the former Soviet republics and Eastern Europe. Itera entered a joint venture with Rosneft in 2012. In 2013, Makarov sold his shares in Itera to Rosneft for $2.9 billion. Subsequently, he founded ARETI International Group in 2015, which has operations in Europe, North America, and the Middle East.
Key Business Strategies
Makarov's business strategies included recognizing opportunities in the post-Soviet economic landscape, particularly the demand for essential commodities. He built Itera into a major gas supplier, and later, he focused on global investments through ARETI. His ability to establish efficient distribution networks and diversify his business interests reflects his strategic approach.
Philanthropy
Makarov is deeply involved in charitable work. He established the Makarov Foundation to support children's welfare and individuals with autism and other developmental disabilities. Through his foundation, he has funded the Mount Sinai Adult Autism Clinic and supported various charitable initiatives, including the Joe DiMaggio Children's Hospital and the Best Buddies International.
