Timur Turlov is a Russian-born Kazakhstani billionaire entrepreneur and CEO of Freedom Holding Corp., a diversified financial and lifestyle services company. Timur Turlov founded Freedom Finance in 2008, revolutionizing retail investment access in post-Soviet countries, and led the company to a NASDAQ listing in 2019.
With a net worth of $7.6 billion as of May 2025, Turlov is Kazakhstan’s richest individual, known for his innovative fintech solutions and social initiatives like promoting chess and sustainability.
Early Life and Education
Timur Turlov, born on November 13, 1987, in Moscow, Russia. As of June 20, 2025, he is 37 years old. His fascination with stock market investments began during his school years, setting the foundation for his future career.
After graduating high school in 2003, Turlov pursued higher education at the Moscow Aviation Technology University (MATI), earning a Bachelor of Science degree in economics in 2009.
Career Start
Turlov’s career in finance began remarkably early. At the age of 16, while still in high school, he joined the Moscow branch of World Capital Investments (WCI), an American investment company, as a trader. This role provided him with hands-on experience in global stock markets.
In 2005, he moved to Yutreyd.ru, a subsidiary of Uniastrum Bank in Moscow, where he developed infrastructure to provide access to U.S. stock exchanges. His work there honed his expertise in financial systems and market access, laying the groundwork for his entrepreneurial ventures.
Challenges Faced
Turlov faced significant challenges early in his career, most notably the 2008 global financial crisis. The crisis led to the sale of Uniastrum Bank to the Bank of Cyprus, resulting in the closure of the trading unit where Turlov worked.
Despite this setback, Turlov and his colleagues leveraged their expertise to launch their own venture. Founding a company during a global economic downturn was a bold move, requiring resilience and strategic vision to navigate the uncertain financial landscape.
Success Story of Timur Turlov
In 2008, at the age of 21, Turlov founded Freedom Finance, a brokerage firm focused on providing retail investors in post-Soviet countries access to U.S. stock markets. This venture marked the beginning of his rise as a financial innovator.
By 2011, Turlov relocated to Kazakhstan, where he established Freedom Finance JSC in 2013, which became the most active trading participant at the Kazakhstan Stock Exchange by 2022. In 2015, he became the main shareholder of Freedom Holding Corp., consolidating various businesses under this umbrella.
The company’s landmark achievement came in 2019 when Freedom Holding Corp. became the first financial institution from the Commonwealth of Independent States (CIS) to list on NASDAQ under the ticker FRHC.
Initially priced under $15 per share, the stock soared to over $80 by July 2024, reflecting a market capitalization nearing $5 billion.
Turlov’s leadership has been recognized with numerous accolades:
2018 Financial Elite of Russia Award
In 2018, Timur Turlov received the Financial Elite of Russia Award, recognizing Freedom Finance as the fastest-growing broker in the region. This accolade highlighted his ability to rapidly expand the company’s reach, providing retail investors in post-Soviet countries with unprecedented access to global stock markets.
The award underscored Turlov’s innovative approach to brokerage services, leveraging technology to democratize investment opportunities.
2021 Forbes Global 2000 List
Turlov was featured on the 2021 Forbes Global 2000 List, ranking 1517th with an estimated net worth of $2.1 billion. This recognition marked a significant milestone, reflecting the success of Freedom Holding Corp.’s growth under his leadership, particularly its expansion into diverse financial services.
His inclusion on this prestigious list solidified his reputation as a rising global financier.
2023 Most Influential Business Leader in Kazakhstan
In 2023, Turlov was honored as the Most Influential Business Leader in Kazakhstan for his substantial contributions to the country’s economic development. His leadership in transforming Freedom Holding Corp. into a multifaceted financial and lifestyle ecosystem spurred job creation and digital innovation in Kazakhstan.
This award highlighted his role in positioning Kazakhstan as a hub for financial technology in Central Asia.
2024 Kazakhstan’s Richest Entrepreneur
Forbes Kazakhstan named Turlov the country’s richest entrepreneur in 2024, acknowledging his remarkable financial achievements. With Freedom Holding Corp.’s stock soaring and his net worth climbing to $3.3 billion that year, this recognition celebrated his strategic vision in scaling a global financial empire from Kazakhstan.
It also cemented his status as a trailblazer in the region’s business landscape.
Best President of an Accredited Sports Federation
Turlov was awarded the title of Best President of an Accredited Sports Federation for his leadership of the Kazakhstan Chess Federation since 2023. Under his guidance, chess was integrated into public school curricula, and Kazakhstan hosted international tournaments, elevating the sport’s prominence.
This accolade recognized his commitment to fostering intellectual and cultural development through sports.
Business Ideas and Products
Turlov’s vision extends beyond traditional brokerage services. He has built Freedom Holding Corp. into a diversified financial and lifestyle ecosystem, operating in 22 countries. Key offerings include:
Freedom Bank Kazakhstan
Freedom Bank Kazakhstan, a cornerstone of Timur Turlov’s financial ecosystem, provides comprehensive retail banking services to individuals and businesses across Kazakhstan. Launched to meet the growing demand for accessible banking, it offers digital banking solutions, including savings accounts, loans, and payment services, tailored to enhance financial inclusion.
The bank leverages advanced technology to streamline operations and improve customer experience, positioning it as a key player in Kazakhstan’s banking sector.
Freedom Finance Global and Tradernet
Freedom Finance Global, paired with its proprietary TraderNet platform, is a cutting-edge stock trading service that uses artificial intelligence to deliver personalized investment solutions. Tradernet enables retail investors to access global markets, including U.S. stock exchanges, with real-time data and AI-driven analytics to optimize trading strategies.
This platform has revolutionized investment access in post-Soviet countries, empowering users with tools typically reserved for institutional investors.
Freedom Pay
Freedom Pay is an international e-payment service designed to facilitate seamless, secure, and efficient digital transactions across borders. It supports a wide range of payment methods, including mobile payments and online transfers, catering to both individual and business clients.
By integrating with Freedom Holding Corp.’s broader ecosystem, Freedom Pay enhances the convenience of financial transactions in the regions where it operates.
Freedom Life and Freedom Insurance
Freedom Life and Freedom Insurance offer innovative insurance services, incorporating artificial intelligence to enhance risk assessment and policy customization. These services provide a range of products, from life and health insurance to property and casualty coverage, designed to meet diverse client needs.
The use of AI allows for more accurate pricing and faster claims processing, setting a new standard in the insurance industry within Kazakhstan and beyond.
Freedom Telecom
Freedom Telecom operates as a telecommunications provider, delivering high-speed internet, mobile, and voice services to customers in Kazakhstan and select international markets.
Launched to support Turlov’s vision of a connected digital ecosystem, it focuses on affordability and reliability to bridge connectivity gaps in underserved regions. The company is expanding its infrastructure to support the growing demand for digital services in emerging markets.
Lifestyle Services
Turlov’s lifestyle services include Arbuz.kz, an online grocery delivery platform; Freedom Travel (formerly Aviata), a streamlined airline ticket booking service; and Freedom Ticketon, an event ticketing platform.
Arbuz.kz simplifies grocery shopping with fast delivery, while Freedom Travel offers user-friendly travel booking options, and Freedom Ticketon provides access to cultural and entertainment events. These services integrate seamlessly into Freedom Holding Corp.’s ecosystem, creating a holistic digital experience for users.
Turlov’s philosophy emphasizes creating a unified digital environment where users can invest, shop, and live seamlessly. His strategic acquisitions, such as Freedom Ticketon during the 2021 pandemic, demonstrate his ability to seize opportunities in crises.
Current Activities
As of 2025, Turlov continues to lead Freedom Holding Corp. as CEO, focusing on expanding its global presence and integrating advanced technologies like AI for investment analysis, risk management, and fintech solutions. He is also deeply engaged in social initiatives, including:
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Kazakhstan Chess Federation: As president since 2023, Turlov has promoted chess in public school curricula and supported international competitions.
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QJ League: A youth football league fostering sports talent in Kazakhstan.
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Environmental Initiatives: Supporting the International Fund for Saving the Aral Sea and launching recycling projects through the Freedom Shapagat Corporate Foundation.
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UN Global Compact Central Asia: Serving as Chairman of the Advisory Committee to address sustainability challenges like water conservation and climate resilience.
Turlov is also investing in technology startups and digital transformation projects, positioning himself as a key player in Kazakhstan’s digital economy.
Timur Turlov’s Net Worth
As of May 2025, Turlov’s net worth is estimated at $7.6 billion, making him the richest person in Kazakhstan and ranking him 433rd globally on the Forbes billionaires list. His wealth primarily stems from his 71-72.56% ownership stake in Freedom Holding Corp.
Previous estimates include $2.1 billion in 2021, $3.3 billion in 2024, and $6.2 billion earlier in 2025, reflecting significant growth.
Future Plans
Turlov aims to further expand Freedom Holding Corp.’s ecosystem into new markets, particularly in under-digitized regions like Uzbekistan, Turkey, and Eastern Europe. He is focused on leveraging AI and digital tools to enhance financial services and create a super app that integrates finance, telecom, and lifestyle services.
Additionally, he plans to continue supporting social and environmental initiatives, such as education, youth sports, and sustainability projects, to drive positive change in Kazakhstan and beyond.
Timur Turlov’s Wife and Kids
Turlov resides in Almaty, Kazakhstan, with his wife, Elena, and their six children. Married for 16 years, he emphasizes the importance of family as a source of balance and energy, often stating that it strengthens his business endeavors.
Hobbies and Personal Life
His hobbies include playing chess, which aligns with his strategic thinking, reading fiction and philosophy to fuel creativity, and hiking and cycling for physical well-being.
In 2022, Turlov renounced his Russian and St. Kitts and Nevis citizenships to become a tax resident and citizen of Kazakhstan, reflecting his commitment to his adopted home.
Conclusion
Timur Turlov’s journey from a teenage trader to a billionaire financier is a testament to his resilience, innovation, and vision. Through Freedom Holding Corp., he has revolutionized financial access in emerging markets, while his commitment to social impact and sustainability underscores his broader influence.
As he continues to expand his business and community initiatives, Turlov remains a leading figure in global finance and a role model for aspiring entrepreneurs.
Myself Aditya and I am from Mumbai, India. As an intern, I joined the local news agency in Mumbai named “The Mumbai News”. Now I am working with various News Agencies and I provide them reports from Mumbai and other parts of India.
