Assets
Biography
Born November 13, 1987 in Moscow.
Education
2009: Tsiolkovsky Russian State Technological University
In 2009 he graduated from the Russian State Technological University named after K.E. Tsiolkovsky, economics and management at the enterprise, ekonomist‐menedzher.
Additional vocational education
By the decision of the certification commission, the qualification of a financial market specialist in brokerage, dealer and securities management activities was assigned (certificate 1.0 - 09.04.2009).
Career
2003: World Capital Investments
After graduating from school in 2003, he got a job in the Moscow branch of the American investment company World Capital Investments (WCI) as a trader to gain experience in investing at a professional level.
2005: Uniastrum Bank
In 2005, he moved to work at OOO KB Uniastrum Bank"," (d.) Moscow To the division engaged in operations in the American stock market, where he built an infrastructure for accessing trading on exchanges. USA
2008: Founder of Freedom Finance Investment Company
In 2008, he founded Freedom Finance Investment Company LLC. The key specialization is access to trading on the largest stock exchanges USA: NYSE, NASDAQ, CBOE, CME, AMEX, as well as brokerage and securities management.
2010: Zam. General Director of Nattrader
From 09.07.2010 to 10.08.2011 - Deputy General Director for International Markets, Nattrader LLC.
2011: CEO of Freedom Finance Investment Company
Since 11.08.2011 - General Director of Freedom Finance Investment Company LLC.
2012: Purchase of Seven Rivers Capital
In 2012, he bought Seven Rivers Capital, which he renamed Freedom Finance JSC. The company provides brokerage services, trust management of securities, and also opens access to the stock markets of Kazakhstan, Russia, and the USA.
2015: Chairman of the Supervisory Board of FFIN Bank
Since 26.03.2015, Chairman of the Supervisory Board of FFIN Bank LLC (re-elected: 13.04.2020).
2018: Moscow Exchange
In February 2018, he joined the Committee on the Stock Market of the Moscow Exchange.
2019: NAUFOR
In June 2019, he joined the Board of Directors of the National Association of Stock Market Participants (NAUFOR).
2020: The fortune of the head of Freedom Holding Timur Turlov exceeded $1 billion
In September 2020, 32-year-old Timur Turlov became a dollar billionaire thanks to the rise in quotations of his investment company. Freedom Holding The agency drew attention to this. Bloomberg
From the beginning of 2020 to September 23, Freedom shares rose 64%. Turlov's share in the company is 73%, which allowed the entrepreneur to borrow a fortune of more than $1 billion.
According to the publication, six years ago, at least 80% of Freedom's revenue came from a small group of traders in intraday operations. In the context of the coronavirus pandemic COVID-19 , their number has grown significantly in many countries, including in,, and USA China. India South Korea
Due to this, Freedom's share price rose significantly, and the brokerage entered the top ten in Russia and became the largest in Kazakhstan. The number of its clients by June 2020 reached 152 thousand against 46 thousand in March 2018.
In an interview with Bloomberg, Timur Turlov said that his personal fortune is just a "formal figure," and he is glad that the company's revenue is growing. According to the results of the financial year, closed at the end of March 2020 calendar, Freedom revenue amounted to $122 million, an increase of 64% compared to the previous reporting year. Net profit during this time has more than tripled to $22 million.
Turlov's company is registered in Nevada, but its main office is located in Kazakhstan. Bloomberg writes that its clients are Kazakhstanis and Russians who want to buy shares in companies that have held an IPO in Silicon Valley.
Freedom has subsidiaries in Russia, Ukraine, Uzbekistan, Kyrgyzstan, Germany and Cyprus. The company's presentation released in February 2020 states that Freedom customers took part in 87 IPOs, including Facebook, Alibaba, Tesla.[1]
2021
Investing $1 million in Cerebra stroke diagnostic AI system developer
In early August 2012, it became known that the head of Freedom Holding Timur Turlov invested $1 million in Cerebra. The parameters of the transaction, including the investor's share and the estimated value of the startup, were not disclosed. Read more here.
Investing in Kazakhstan IT company Relog
At the end of December 2021, it became known about the investment of $700 thousand in Relog. The head of Freedom Holding and the founder of the investment company Freedom Finance Timur Turlov have invested in a Kazakhstani startup. Read more here.
2022
Freedom Finance Purchase
In early June 2022, it became known about the departure of the American company Freedom Holding from the Russian market. She sells her assets in the Russian Federation to the founder of Freedom Finance Timur Turlov. Read more here.
Fortune - $2.4 billion
In April 2022, Timur Turlov first entered the Russian part of the global ranking of billionaires, which runs Forbes magazine. Analysts estimated the fortune of the founder and largest shareholder of the investment holding Freedom Holding at $2.4 billion against $2.1 billion in 2021.
Turlov's assets, in addition to Freedom holding shares (it includes the Freedom Finance investment company, the Freedom24 online stock store and the Freedom Finance Kazakhstan bank), include Freedom Mobile World, a network of retail stores for smartphones and accessories.
Forbes writes that by April 2022, Timur Turlov permanently lives in Kazakhstan, so he was first included in the list of Kazakh billionaires. Later it turned out that he does not have citizenship of Kazakhstan, but he has citizenship of Russia and the islands of St. Kitts and Nevis, and by April 2022 he belongs to the Russian part of the Forbes billionaire rating. The capitalization of Freedom Holding is about $3.6 billion, according to the publication. Forbes in April 2022 reported that the total fortune of Russian dollar billionaires for the year decreased by 42% and amounted to $353 billion. The number of such rich people decreased from 123 to 88 people.
In addition to Timur Turlov, co-owner of Pharmstandard Yegor Kulkov was included in the Russian part of the global list of billionaires in 2022. He also has stakes in other Russian pharmaceutical companies - Otisipharm, Biocad and Generium. Generium is one of the manufacturers of the Sputnik V coronavirus vaccine. But the most valuable thing in Kulkov's assets is a stake in the British company CMR Surgical, which is developing a robot surgeon. By April 2022, this package is estimated at almost $1.1 billion, according to the publication of the publication.[2]
Obtaining citizenship of Kazakhstan
2023: $1bn fortune boost after Hindenburg Research shortseller attack
In October 2023, Timur Turlov is trying to understand how Hindenburg Research's bet against his Kazakh brokerage was so "unsuccessful" that at one point it brought him income in the amount of more than $1 billion.
In August, the American short seller targeted Freedom Holding, a Kazakhstani billionaire, with accusations ranging from fraud and market manipulation to circumvention of sanctions. Within days, the company's stock soared to a record high.
Turlov claims that the short seller underestimated the level of customer confidence.
2024
Seizure of property by a Russian court
On March 14, 2024, the Arbitration Court of the Nizhny Novgorod Region, at the request of the state corporation Deposit Insurance Agency (DIA), seized the funds and other property of a number of persons against whom claims for recovery of losses were made in connection with the withdrawal of assets from the Association Bank. In particular, the property of the shareholder and executive director of Freedom Holding Timur Turlov for €19 million and $2 million was arrested.
Among the co-defendants in the DIA lawsuit are also Stanislav Mashagin, Marina Kosyreva and Olga Artemyeva, whose property and funds were arrested within the same amounts. In addition, a criminal case has been initiated into the theft of funds from a credit institution.
The Bank of Russia revoked the license from JSC KB Association in 2019 due to the fact that there was no foreign currency balance reflected in the reporting for a nostro account in a foreign bank in the amount of over 3.8 billion rubles, which more than doubled its own funds. The Arbitration Court of the Nizhny Novgorod Region in September 2019 declared the bank bankrupt and introduced bankruptcy proceedings against it.
At the same time, Turlov denies his participation in any transactions with the Association Bank. According to him, he personally was never involved in any transactions with Association Bank and was never a person authorized to make any transactions on his behalf.
 | I have never been affiliated with Association Bank and am not personally familiar with any of the employees of this organization. I can assume that we are talking about routine market transactions made by the Treasury of one of our companies. Lawyers will start working after they have the opportunity to familiarize themselves with the lawsuit, "said Turlov, quoted by Interfax[3] |  |
Speaking at the LD Micro Conference in New York
More than 5 million users use the services of different companies in the ecosystem of Freedom Holding Corp. This was announced by the head of the company Timur Turlov at the LD Micro investment conference in New York, at which he spoke as a key speaker. Read more here.
How financier Timur Turlov turns Kazakhstan into a country of grandmasters
The other day, the Aktobe Open 2024 international chess tournament, dedicated to the memory of referee and chess player Vladimir Dvorkovich, ended. More than 100 athletes from 12 countries took part in the competition, and 23-year-old grandmaster Parham Magsudlu from Iran won. The prize fund of the championship held for the fourth time amounted to $100 thousand. The main sponsor of the Aktobe Open 2024 was the Kazakhstan investment company Freedom Holding Corp. Its founder and president is Timur Turlov. Learn more here.
Notes
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