Suleiman Kerimov & family
Source of wealth: Gold
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Biography
Suleiman Kerimov, a native of Dagestan, has represented the republic in Russia's Federation Council since 2008. He was sanctioned by the U.S. in 2018. The EU and UK sanctioned him in March 2022.
A trained economist, Kerimov made a career investing in distressed assets in Russia. He also made money on Sberbank and Gazprom shares.
After cashing out in 2007 he invested in global banks such as Morgan Stanley, Goldman Sachs and Deutsche Bank right before the 2008 financial meltdown. He got margin calls and lost billions.
He recovered by betting on Polyus, Russia's biggest gold producer, purchased from billionaire Vladimir Potanin. He paid $1.3 billion for 37% of the shares, which have since increased more than 10-fold.
In 2015, to get around a law barring politicians from holding financial assets abroad, he gave shares in Polyus to his son Said. In the beginning of 2022, Kerimov's family owned 76% of Polyus.
Said Kerimov was sanctioned by EU and UK in April 2022, and transferred his stake in Polyus to Akhmet Palankoev , a former colleague of his father's and to the Islamic Organisations Support.
Perspective on their fortune
Gold
Everyday luxury
A Suleiman Kerimov & family's fortune is equivalent to 173 of gold, but this may be difficult to value, as we don't usually have a handful of gold bars in our piggy bank.
A standard gold ring typically weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18k gold.
Based on today's gold price (not taking into account the jeweler's fee, shipping, or anything else), that gold ring would be worth $556.3
Suleiman Kerimov & family could buy 46,130,158 gold rings. That's a lot of fingers and a lot of gifts!!
And if the number of rings is difficult to visualize, all these rings would need 8 trucks to transport them, But we can be almost certain that Suleiman Kerimov & family will have enough left over to pay for the gas for those trucks.
Health
The price of life
Let's compare Suleiman Kerimov & family's fortune with the healthcare spending of a huge country
Suleiman Kerimov & family could fund the entire healthcare system of DR Congo with a population of over 105,800,000 of inhabitants for approximately 11.5 years.
But even if we compare their fortune to that of a rich country
At the other extreme, Suleiman Kerimov & family could cover the health expenditure of Luxembourg, considered the world's most heavily invested health system, for 5.1 years
Education
Buying the future
Lowest education spending
Suleiman Kerimov & family could assume the entire cost of the education system of Nigeria, the most populous country in Africa, with more than 243,000,000 inhabitants for 7.5 years.
Highest education spending
But not only could he assume the cost of a poor country, Luxembourg is considered the country with the highest per capita investment in education in the world, Suleiman Kerimov & family could pay for it in full for 10.3 years.
Research
The monopoly of progress
Lowest research spending
Suleiman Kerimov & family could fully fund the state research budget of Pakistan, the fifth most populous country in the world with more than 260,000,000 of inhabitants, for 43.2 years.
Highest research spending
But even if we compare the total wealth of Suleiman Kerimov & family with Israel, the country that currently invests the most per capita in research in the world, it could assume the total cost of the system for 1.0 years.
Financial Assets
Monthly wealth history
Fortune comparison
Historical data not available for comparison