Igor Vladimirovich Makarov is a Russian businessman, the self-made billionaire founder of Itera (former) and the ARETI International Group. Born in Ashgabat, Turkmen SSR, in 1962, his early life was marked by elite athletics: he was a member of the Soviet cycling team for six years (1981–1985), winning medals and awards.

Makarov graduated from Turkmen State University in 1983. His career began with high-stakes commodity trade in the post-Soviet era. He founded Itera in 1992, which rapidly became the largest private company in Russia for most of the 1990s, specializing in the production and sale of natural gas.

Igor Makarov's strategic genius was his ability to leverage his connections to arrange the sale of Turkmen gas to Ukraine via Russia in the 1990s and early 2000s, capitalizing on complex geopolitical and market arbitrage. Itera became the fourth largest natural gas company in the world by 2000.

The pinnacle of his financial career was the sale of his majority stake in Itera to state-owned Rosneft in 2013 for $2.9 billion, securing his multi-billion dollar fortune. Following the exit, he renamed the group ARETI (Itera spelled backward) in 2015 to signal a new direction, focusing on energy, finance, and real estate. His career is marked by controversy and sanctions: he was sanctioned by the U.K. in 2022, but the sanctions were removed by the U.K., Australia, and New Zealand in 2024–2025 after successful legal challenges, finding no legal basis to maintain restrictions.

• Itera (Founder & Former Owner): The former core private asset, a major company in the production and sale of natural gas (sold to Rosneft for $2.9 billion in 2013).
• ARETI International Group (Founder): His current private holding company focusing on energy, finance, and real estate (Itera spelled backward).
• Sports Career: He was a member of the Soviet cycling team (1981–1985).
• Sanctions Status: Removed from U.K., Australian, and New Zealand sanctions lists in 2024–2025 after legal challenges.

Igor Makarov's social impact is structural, stemming from Itera's role in managing and transporting Central Asian natural gas in the post-Soviet era. His company contributed significantly to regional energy trade. His personal philanthropy supports various sports and educational initiatives, reflecting his past as an Olympic-level athlete.

His career highlights the immense profits and high political risks associated with post-Soviet resource privatization, requiring him to continuously navigate a complex legal and geopolitical landscape.

Igor Makarov maintains the professional, composed style of a global financier and energy magnate. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic reflects stability and immense financial power, blending his athletic discipline with his corporate authority. He owns the large yacht Areti (delivered by Lürssen in 2017), named after his new group.

Residing in the U.K./Europe, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to strategic energy investment, real estate, and international finance.