With a net worth of $3 billion, Vagit Alekperov is among the wealthiest businessmen in Russia.
Vagit Alekperov, who was born in Baku, Azerbaijan, received a degree from the Azerbaijan Oil and Chemistry Institute in the mid-70s.
While he was still in school, he started working for Kaspmorneft, a drilling company, and eventually became a full-time engineer for them after graduating.
Over the next few years, he progressed from an engineer to managing his production unit.
Subsequently, he moved to Siberia to work for another oil company, Surgutneftegaz, where he quickly developed expertise and was appointed as the deputy director of several oil production companies.
He was appointed as the Deputy Prime Minister of the Oil and Gas Industry of the Soviet Union in the early 90s after the government made a call.
He played a key role in the establishment and administration of Langepas-Uray-Kogalymneft, which was Russia’s first vertically integrated state-owned oil/energy company.
The company has rebranded itself as LUKoil.
The company’s former President and largest shareholder are both him and the company.