Early Life and Education
Suleiman Abusaidovich Kerimov was born on March 12, 1966, in Derbent, Dagestan, USSR. He graduated from high school in 1983 and enrolled in the Civil Engineering Department at Dagestan Polytechnic Institute in 1984. However, his studies were interrupted by mandatory military service in the Soviet Army. After completing his service in 1986, he continued his education at Dagestan State University, earning a degree in financial accounting and economics in 1989. During his university years, he served as the Deputy Chairman of DSU's Trade Union Committee and met his wife, Firuza.
Rise to Success
Kerimov's career began in 1989 as an economist at the Eltav electrical plant in Makhachkala. He rose through the ranks to become Deputy Director General at Eltav. He started investing during the fall of the Soviet Union. In 1993, he was put in charge of handling relations between Eltav and Fedprombank. He became head of the banking and trading company Soyuz-Finans in 1995. In 1997, he took over Fedprombank and in late 1999, he bought a 55% stake in Nafta Moskva, a former state-oil trader, and restructured the company. He made significant investments in Gazprom and Sberbank. Kerimov's shrewd investments span across sectors, including substantial stakes in Gazprom, Sberbank, and Polyus Gold.
Key Business Strategies
Kerimov's business acumen is marked by strategic investments in distressed assets and commodities. He acquired stakes in Gazprom and Sberbank, and made a significant impact in the gold mining industry through his involvement with Polyus Gold. He also invested in Western banks to protect them from short-sellers during the 2008 financial crisis. He focused on buying shares in Russian companies, particularly in the gold sector, like Polyus Gold, which proved highly profitable.
Philanthropy
Kerimov is known for his philanthropic efforts through the Suleyman Kerimov Foundation, established in 2007. The foundation supports initiatives that strengthen communities and aid young people in Russia and worldwide. Notably, the foundation donated $100 million for the construction of the Moscow Cathedral Mosque. Kerimov has also supported the construction of mosques and churches and sent thousands of pilgrims to Mecca annually.
