S uleiman Kerimov is a controversial Russian oligarch who has built a vast and often opaque fortune through a series of high-stakes, leveraged investments in major Russian companies. An economist by training, he made his initial wealth during the tumultuous post-Soviet era by acquiring stakes in a variety of businesses. He became known for his aggressive use of debt to finance his deals. His career-defining success came from his large stake in Polyus, which has grown to become Russia's largest gold producer.
Kerimov's career has been marked by significant controversy, including a near-fatal car crash in France, and investigations into tax fraud, though he was never convicted. He has also been a politician, serving as a member of the Federation Council, the upper house of the Russian parliament, representing his home region of Dagestan. Following the 2022 invasion of Ukraine, he has been heavily sanctioned by the United States, the European Union, and the United Kingdom. He has since formally transferred his stake in Polyus to his family.
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