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 Vagit Alekperov

Born:   1 September 1950

The head of Lukoil


Vagit Alekperov, a billioner and the head of Lukoil Company (the second largest private oil Company worldwide by proven hydrocarbon reserves), is considered to be one of the richest people in the world. He was the fifth child in a family of an oil worker.

Vagit Alekperov was born 1 September, 1950 in the city of Baku, Azerbaijani Soviet Socialistic Republic. Alekperov confessed that he spent his childhood in an “oil-soaked” atmosphere and his first serious job as well as all others was connected with the oil industry. At the age of 22 the future billionaire started to work as a driller-engineer and managed to combine his new occupation with studies at the Azerbaijani University of oil and gas.

The period of five years after his graduation in 1974 is a brilliant example of meteoric career: being an ordinary oil-well pumper in the beginning, Alekperov very soon went upward and got promoted to the deputy manager of the oil field. People call Alekperov a Quiet billionaire, since his reputation has always remained unsullied. His purposefulness and perspicacity served him well and helped him to meet right people, who later became members of his team.


1979-1985 – Alekperov occupied executive positions in Surgutneftegaz and Bashneft companies.

1985-1987 – first deputy director general in Bashneft, Western Siberia department

1987-1990 – chief executive officer of Kogalymneftegaz Production Enterprise

1990-1991 – first deputy minister of the oil and gas industry in the USSR

Since 1991 – president of oil concern Langepas-Urai-Kogalymneft. 5th April, 1993, the oil concern was turned into LUKoil, joint-stock company, by virtue of the decree signed by President Boris Yeltsin.

April 1996 – authorized representative of Boris Yeltsin in the Tyumen Region during the presidential election.

Since 7th June, 1999 – member of the RF Economic Council.

Since 2001 – chairman of the board of directors (Lukoil)

Alekperov’s team

Vagit Alekperov is very scrupulous in the choice of employees. Realizing that his projects should be promoted abroad, Alekperov purposefully assembled an international top-team. Almost all former Soviet republics are represented in his team. It is said that he prefers to recruit people personally and especially favors former military men.


$ 15 200 million, Forbes list: #5 (2021)

Private life

Alekperov’s idol is Enrico Mattei – the founder of Italian Oil Company Eni. Vagit believes, Mattei was a person, who reorganized a state-controlled enterprise into a company, which still provides whole Italy with hydrocarbons. Alekperov is married and has a son born in 1990. In his free time he prefers traveling the world or stays with his family and friends.


Founder of the Our Future Foundation for regional social programs, which is engaged in the development of social entrepreneurship.


Collects old coins. The main direction is Russian gold and platinum coins, but there is also a large collection of antique ones. In the Museum of the International Numismatic Club, opened by Alekperov, about 5,000 coins are presented. 

Vagit Alekperov today

He continues to manage Lukoil and is actively developing his business abroad.
The billionaire is the owner of a private network of gas stations, a manufacturer of motor additives and a private oil trader. Since 2010, the entrepreneur has been a member of the Skolkovo Foundation Board.




Olga Pletneva

Tags: Russian businessmen Lukoil    

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