Many Russian oligarchs have made their fortunes in the post-Soviet era, but Farkhad Akhmedov is one of the most notorious. Born in Azerbaijan, Akhmedov made his fortune in the oil and gas industry after the fall of the Soviet Union.
He has been involved in several high-profile legal disputes, including a bitter divorce battle with his ex-wife Tatiana Akhmedova.
Russian Oligarchs
The Russian oligarchs are business moguls who earned their wealth after the fall of communism. A lot of them began as “entrepreneurs” in the black market, selling everything from cigarettes to oil.
They amassed enormous fortunes during the country’s transition to a market economy by purchasing state-owned assets at bargain rates. They then became some of the world’s wealthiest individuals.
Today, Russian oligarchs have enormous political and economic power. They are frequently depicted as ruthless capitalist tyrants who will stop at nothing to acquire what they desire. While they may be controversial, there’s no doubting that Russian oligarchs have had a significant influence on their nation’s progress.
All About Farkhad Akhmedov
Early Life & Education
Russian billionaire Farkhad Akhmedov was born in Baku, Azerbaijan Soviet Socialist Republic. His father worked in Goychay, which is located in the center of Azerbaijan, and he went to high school there until 1971. He received his education in 1971 from Goychay High School.
In 1971, the Russian oligarch fled Baku and arrived in Moscow. He attended Vocational Technical School in Moscow before being conscripted into the military. He served the Navy as a senior sergeant and platoon commander for two years.
His naval commanders recommended he study at the Moscow State Institute of International Relations (MGIMO) when his service ended, but Akhmedov was turned down because of his father’s conviction. He later got a Technology and Merchandising Process of Fur Products degree in 1983.
Career
From 1986 to 1994, Akhmedov lived in London and participated in the international fur market. Afterward, he became the founder and CEO of Tansley Trading- a company that provided essential equipment for the USSR’s oilfields and gas companies. He also traded oil products alongside this venture.
In 1995, Akhmedov turned his focus to business in Russia. He purchased stock in an American company. For three years, he was the chairman of the board of directors of an investment company.
In 2002 he again headed the Board of Directors for NorthGas, CJSC. Thanks to being the leading businessperson involved, the company soon became profitable.
Political Career
In 2004, Akhmedov became the first ethnic Azerbaijani to be appointed as a representative of the Administration of the Krasnodar Territory in the Federation Council of the Russian Federation (serving until 2007). Russian President Vladimir Putin appointed him to this position.
Later he was a member of the Commission for Fuel and Energy Complex, Transport, and Communication of the Federation Council. From 2005-2007 he was also a member of the Board of Trustees for Kuban State University. During his time as a senator, Akhmedov became known as an expert in energy and economic sectors providing guidance to others.
Then from 2007 to 2009, he was a representative of the Nenets Autonomous Assembly of Deputies in the federation. Between 2007-2010, Akhmedov also served in Parliamentary Assembly for Europeans.
Personal Life
Akhmedov has been married three times and has six children from those marriages. His children were born in North America.
The Akhmedov family has been embroiled in a long-running legal battle over Farkhad Akhmedov’s estimated $600 million fortune. The legal proceedings are ongoing, and Tatiana Akhmedova has so far been unsuccessful in her attempts for cash and art settlement from her ex-husband.
In 2017, a London high court ordered Akhmedov to pay his ex-wife £453 million, but the billionaire refused to do so. Akhmedov claimed the divorce settlement was unfair and that he had already given his ex-wife what she was entitled to.
Luxury Possessions
Akhmedov’s net worth is estimated to be $1.4 billion. Farkhad Akhmedov’s $300 million yacht, the Luna, is one of the world’s largest and most expensive yachts. The vessel was originally commissioned by Roman Abramovich but was never delivered.
Akhmedov also owns a private jet, which is reportedly worth $50 million. He has used this jet to transport his family and friends around the world. He has also used it to gain access to difficult-to-reach oil and gas fields in Russia.
The oligarch owns several homes, including a $40 million penthouse in London, a $60 million mansion in Moscow, and a $100 million estate in France. He also has properties in Switzerland, Italy, and the United Arab Emirates.
Philanthropy
Akhmedov is a philanthropist and has donated to many causes over the years. He has given money to universities, schools, hospitals, and charities.
In 2012, he donated $30 million to Moscow State University to fund a new campus for the university’s faculty of physics. He also gave $15 million to the British Museum in 2013 to help fund the purchase of several rare artifacts.
Akhmedov has also given money to charities that help children in need. In 2013, he donated $100,000 to the Make-A-Wish Foundation. He has also given money to UNICEF and Save the Children.
EU Sanctions
In March 2014, the European Union imposed sanctions on Akhmedov and several other Russian oligarchs in response to Russia’s annexation of Crimea. The sanctions froze his assets within the EU and prevented him from traveling to Europe.
Despite these sanctions, Akhmedov has continued to live a lavish lifestyle. The sanctions have not been able to stop Akhmedov from living an opulent lifestyle or from doing business within Russia.
Conclusion
Farkhad Akhmedov is one of the most notorious Russian oligarchs. He made his fortune in the oil and gas industry after the fall of the Soviet Union and has been involved in several high-profile legal disputes.
Akhmedov is also known for his lavish lifestyle and has amassed a large collection of luxury possessions. Despite his controversial reputation, Akhmedov is also a philanthropist and has donated to various causes.
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