What is Vagit Alekperov Net Worth 2024: Sources of Wealth, Income/Salary & More

What is Vagit Alekperov Net Worth 2024: Sources of Wealth, Income/Salary & More

Curious about Vagit Alekperov net worth? As the founder of LUKOIL, his wealth is a topic of interest. Let’s dive into his financial journey and current status. Insights by World of CEOs.

Quick Facts

Real NameVagit Yusufovich Alekperov
Popular NameVagit Alekperov
Birth Date1 September 1950
ParentsYusuf Alekperov, Tatyana Bocharova
BirthplaceBaku, Azerbaijan SSR
EthnicityAzerbaijani, Russian
EducationAzerbaijan Oil and Chemistry Institute
Marital StatusMarried
Sexual OrientationStraight
Wife/SpouseLarisa Victorovna Alekperova
ChildrenSon: Yusuf Alekperov
Net Worth$28.6 billion
Source of WealthOil industry, Lukoil

What is the Net Worth Of Vagit Alekperov in 2024?

What is the Net Worth Of Vagit Alekperov in 2024

As of 2024, Vagit Alekperov’s net worth is estimated at $28.6 billion. This places him among the wealthiest individuals globally.

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In comparison, Leonid Fedun, a close associate and former Spartak Moscow owner, has a net worth significantly lower than Alekperov’s, at around $10.5 billion.

Alekperov’s wealth is primarily derived from his significant stake in Lukoil, Russia’s largest independent oil company.

Vagit Alekperov Finance Overview

Vagit Alekperov Finance Overview

The Foundation and Growth of Lukoil

Vagit Alekperov founded Lukoil in 1991 by consolidating three large oil fields previously controlled by the Soviet Ministry of Oil Industry.

Lukoil has since grown to become Russia’s largest independent oil company, significantly contributing to Alekperov’s wealth.

Owning about 30% of Lukoil, Alekperov has seen the company expand its operations globally. This strategic move not only solidified Lukoil’s presence in the oil and gas industry but also enhanced Alekperov’s financial standing.

Major Assets and Investments

Alekperov’s wealth is diversified across various assets and investments.

Apart from his substantial stake in Lukoil, he previously owned Heesen Yachts, a Dutch shipyard known for building luxury yachts like his 230-foot yacht, Galactica Super Nova.

In 2022, he transferred ownership of Heesen Yachts to a Dutch foundation. This move was part of his strategy to manage his assets amid increasing global scrutiny and sanctions.

Impact of Sanctions on Alekperov’s Wealth

In recent years, Alekperov has faced several sanctions from countries like the UK, the US, and the EU, primarily due to geopolitical tensions involving Russia.

These sanctions have had a notable impact on his wealth and business operations. For instance, the sanctions have restricted his ability to conduct certain financial transactions and travel freely.

Despite these challenges, Alekperov has managed to maintain his financial stability, largely due to the resilience and strategic positioning of Lukoil in the global oil market.

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Philanthropy and Social Contributions

Beyond his business ventures, Alekperov is known for his philanthropic efforts. He founded the Our Future foundation, which promotes social entrepreneurship in Russia.

Through this foundation, he has invested millions in various social initiatives, aiming to improve the socio-economic conditions in Russia.

His philanthropic activities are a testament to his commitment to giving back to the community and supporting sustainable development.

Personal Life and Other Ventures

Alekperov’s personal life is relatively private, but it’s known that he is married to Larisa Victorovna Alekperova and has a son named Yusuf.

Apart from his business activities, Alekperov has a keen interest in numismatics, the study and collection of currency, particularly coins.

His private collection is considered one of the largest in Russia, showcasing his passion for this unique hobby.

In 2023, he also founded the WellTech company, which focuses on repairing Lukoil wells, further diversifying his business interests.

Future Prospects and Succession Plans

Looking ahead, Alekperov has been planning for the future of his businesses. He has been actively involved in succession planning to ensure the continuity of Lukoil’s operations.

In 2018, he mentioned the potential for a staff reshuffle and the appointment of a successor by 2023. This forward-thinking approach highlights his dedication to the long-term success and stability of Lukoil.

FAQs about Vagit Alekperov

FAQs about Vagit Alekperov

How did Vagit Alekperov start his career in the oil industry?

He began as an oil rig worker in the Caspian Sea. He joined Kaspmorneft, a state-run oil company, after graduating from the Azerbaijan Oil and Chemistry Institute in 1974.

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This hands-on experience was crucial. It helped him understand the oil industry deeply and climb the corporate ladder quickly.

What role did Vagit Alekperov play in the creation of Lukoil?

Alekperov was key in forming Lukoil in 1991. As a founder and first president, he transformed it from a state-owned enterprise into a leading private oil company.

His vision and leadership were critical in establishing Lukoil’s global success.

What is Vagit Alekperov’s educational background?

He has a degree in Mining Engineering from the Azerbaijan Oil and Chemistry Institute (1974). He also earned a PhD in Economics in 1998. His technical and economic expertise has been essential in his leadership roles.

What are some of Vagit Alekperov’s philanthropic efforts?

Alekperov is deeply involved in philanthropy, focusing on education, healthcare, and culture. He established the Alekperov Charitable Foundation, which supports projects improving life quality in various Russian regions.

His contributions significantly impact children’s welfare and community health.

How has Alekperov been recognized for his contributions to the industry?

Alekperov has received numerous accolades, including the Woodrow Wilson Award for Corporate Citizenship and the Order “For Merit to the Fatherland”. These awards recognize his exceptional contributions and commitment to corporate social responsibility.

What is Vagit Alekperov’s involvement in politics?

He has been active in Russian politics. He served as a State Duma member and advised presidents like Boris Yeltsin and Vladimir Putin. His political engagement has influenced national energy policies and strategic planning.

How has Alekperov contributed to environmental conservation?

Under Alekperov’s leadership, Lukoil has focused on environmental conservation. The company reduces its footprint through innovative technologies and sustainable practices.

He ensures Lukoil operates responsibly.

How has Vagit Alekperov influenced the global energy market?

Alekperov’s leadership has significantly influenced the global energy market. By expanding Lukoil’s operations and forming key partnerships, he has made it a major player globally.

His insights continue to shape the oil and gas industry’s future.


In summary, Vagit Alekperov’s net worth highlights his success and influence in the oil industry. For more details, visit worldofceos.com and stay updated on top richest CEOs.

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