Vagit Alekperov's Biography

Vagit Alekperov is a renowned Russian billionaire and influential figure in the global energy industry. Born on September 1, 1950, in Baku, Azerbaijan, Alekperov rose from humble beginnings to become the founder and former president of Lukoil, Russia’s largest independent oil company. With a strong academic background from the Azerbaijan State Oil Academy, he began his career as an oil engineer before swiftly climbing the ranks of the Soviet oil sector. His pivotal appointment as Deputy Minister of Oil and Gas Industry in 1990 marked his entry into high-level management, paving the way for the creation of Lukoil in 1991, which he led to international prominence. Over the decades, Alekperov has been recognized for his strategic vision and commitment to energy security, earning accolades such as the Order of Honour. Despite facing Western sanctions related to geopolitical events, he remains a respected figure in business circles. Known for his philanthropic efforts, passion for yachting, and interest in art, Alekperov’s estimated net worth stands at $20.5 billion as of 2024. He is married to Larisa Alekperova and has one child. Alekperov’s journey from an oil rig in the Caspian Sea to the pinnacles of global business leadership exemplifies resilience, innovation, and a deep commitment to the energy sector.