Vagit Alekperov Net Worth 2024 – Oil Company Lukoil President

Biography of Vagit Alekperov

Currently, Vagit Alekperov is firmly among the richest people in Azerbaijan and Russia. His personal fortune is estimated at almost $ 15 billion. And looking at such numbers, it is difficult to believe that the future oil tycoon was born into an ordinary family that could not give him either a lot of money or a sonorous name. Vagit Alekperov is a man who made himself. And looking at the achievements of this person, it is difficult not to admire his steadfastness and determination.

The early years of Vagit Alekperov’s life

Vagit Alekperov spent his childhood and youth in sunny Azerbaijan. His father, a native of Baku, worked as a simple locksmith in the oil fields (which in Soviet times did not imply an exorbitant salary at all), and his mother, a native of Russia, was an ordinary housewife. From the earliest years, Vagit’s childhood was spent in poverty. His father died when the boy was only three years old (affected by the wounds received during the Second World War). After that, hard times fell in the Alekperov family. Vagit’s mother did not have a profession, and a pension of 34 rubles was barely enough to support five children (among whom the future businessman was the youngest).

As Alekperov himself recalls, neighbors and friends advised his mother to send the children to an orphanage, but she did not even want to think about such a scenario. In order to feed the children, she changed jobs one after another, and therefore at some point the life of a large family began to improve. The elder sister Vagit Zuleikha began working at a local oil well. Some time later, another sister, Nelya, began to earn money. After graduating from a music school, she began to give private violin lessons. And therefore, very soon, things in the Alekperovs’ house went smoothly.

At an early age, at the insistence of the same sister, Vagit also began to try to master the violin. However, the soul of the future businessman was drawn to completely different heights. As the family of the businessman recall, from an early age he tried to be useful to his family in some way. Having learned to swim, he began to swim far into the Caspian Sea in order to set up a stream there, in which a lot of fish could fill in the evening.

He did not forget his education either. But the usual boyish games usually did not like, answering that he had already outgrown them.

Vagit Alekperov’s career in business

In 1969, Vagit Alekperov entered the Azerbaijan Institute of Oil and Chemistry. Here he began to comprehend all the subtleties associated with the search and development of oil and gas fields. And I soon got the opportunity to apply my knowledge in practice.

Vagit Alekperov: Lukoil is not for sale

Following in the footsteps of his father, Alekperov began working as an oil worker for the large Azerbaijani company Kasmorneft. At first he combined work with study, but already in 1974 he got a full-time job.

The next five years turned into one endless way up for Vagit. Starting from the position of an ordinary process engineer, the guy “rose” first to the shift supervisor, and then to the foreman and senior engineer. Ultimately, in a short period of time, several years long, Vagit Alekperov made an excellent career in the company and reached the position of deputy chief of the oil field.

However, one should not think that the way up for a famous businessman and manager was easy and simple. In 1974, he almost died in an explosion in one of the wells. Due to the imperfection of Soviet technology, life-threatening episodes occurred later. In particular, once, due to a storm, Vagit was locked on an oil platform for several days. However, he survived and became even stronger.

In 1979, Vagit went to Western Siberia, where he began to search for and produce oil. Here, according to the party order, he worked for five years in high positions in the companies Bashneft and Surgutneftegaz. In 1984 Alekperov was nominated by his superiors to the post of general director of the Kogalymneftegaz association.

There was practically nothing in the city of Kogalym at that time. All hydrocarbon deposits had to be developed almost from scratch. However, this fact did not bother the businessman at all, and very soon the business of the new enterprise went uphill.

Alekperov at Putin

In the early nineties, Vagit Alekperov began working in senior positions in the USSR Ministry of Oil and Gas Industry. However, he soon returned to his usual business and began to engage in hydrocarbon production as president of the newly created company Lukoil. In this organization, he works to this day.

Vagit Alekperov today

At the moment, Alekperov’s company is the second in the Russian Federation in terms of total revenue (second only to OAO Gazprom). Representative offices of the company operate in Russia, Belarus, Ukraine, Azerbaijan, as well as in Bulgaria, the USA and many other countries of the world. In addition, Vagit Yusufovich is actively working with Belarusian oil refining companies. Together with the Novopolotsk company Naftan, the entrepreneur is engaged in the production of motor additives.

Today, Vagit Alekperov’s personal financial assets are estimated at $ 14.8 billion. In the “Russian” Forbes rating, the entrepreneur takes a high fifth place. It is quite remarkable that Vagit Yusufovich’s assets tend to only grow. Therefore, it will not come as a surprise to anyone if in the coming years he gets to higher positions in this prestigious ranking of billionaires.

For his work in the field of mining, the well-known Azerbaijani entrepreneur was repeatedly nominated for various government awards in Russia, Azerbaijan and Bulgaria.

Personal life of Vagit Alekperov

With his wife Larisa Viktorovna Vagit have been together for many years. In 1990, their firstborn son Yusuf was born. Having decided to continue the family dynasty, the entrepreneur’s son graduated from the Russian State University of Oil and Gas in 2012 and is currently trying to realize himself in this area.

According to Vagit Alekperov, he always strives to spend all his free time with his family. Together they travel frequently. A favorite vacation spot for their family is the Crimea peninsula.