Timur Turlov is a Kazakhstani entrepreneur and finance mogul who has transformed the investment landscape across multiple countries. As the founder of Timur Turlov Freedom Finance, he has built a financial empire that spans 22 countries and has become the first financial institution from the Commonwealth of Independent States to be listed on the Nasdaq Stock Market. With a current net worth estimated at $6.1 billion as of January 2025, Turlov's journey from a young stock market enthusiast to a billionaire businessman offers valuable insights into entrepreneurial perseverance and strategic vision.
Early Life and Education
Timur Turlov was born on November 13, 1987, and developed an interest in stock market investments while still in school. This early fascination with financial markets would later become the foundation for his professional career. His formal education includes:
- Graduated from Moscow Aviation Technology University (MATI) in 2009
- Earned a degree as an economist manager
- Began his professional career while still a student
His educational background provided him with the theoretical knowledge that, combined with his practical experience, would help him navigate the complex world of finance and investments.
Career Beginnings
Turlov's professional journey began remarkably early, demonstrating his drive and ambition from a young age:
First Steps in Finance
- 2003: After graduating from high school, began working at the Moscow branch of World Capital Investments (WCI)
- Role at WCI: Worked as a trader at the American investment company
- Age: Started his finance career at just 16 years old
Early Professional Development
In 2005, Turlov took a significant step in his career when he joined Yutreyd.ru, a subsidiary of Uniastrum Bank in Moscow. During this period, he:
- Specialized in American stock market operations
- Successfully built infrastructure giving the unit access to US stock exchanges
- Developed crucial experience and knowledge during the pre-crisis period
Impact of the 2008 Financial Crisis
The global financial crisis of 2008 proved to be a pivotal moment in Turlov's career trajectory:
| Event | Impact | Result |
|---|---|---|
| Sale of Uniastrum Bank | Trading unit closure | Career uncertainty |
| Loss of position | Professional challenge | Entrepreneurial opportunity |
| Market disruption | Industry transformation | Vision for new business model |
When Uniastrum Bank was sold to the Bank of Cyprus during the crisis, the trading unit where Turlov worked was closed. Rather than viewing this as a setback, Turlov and his colleagues decided to leverage their collective knowledge and experience to launch their own venture.
The Birth of Freedom Finance
In 2008, at just 21 years old, Timur Turlov founded Freedom Finance with a clear vision to provide access to US stock exchanges and comprehensive brokerage services to clients.
Growth Strategy
Turlov employed a distinctive approach to grow his business:
- Focused on attracting retail investors
- Actively promoted American securities
- Specialized in providing access to US markets for clients in emerging economies
- Expanded through strategic geographical growth
Recognition and Achievements
The company's rapid growth earned it significant recognition:
- 2018: Received the "Financial Elite of Russia" award
- 2018: Recognized as the most fast-growing broker
- Early 2022: Ranked 8th among the largest brokerage companies on the Moscow Exchange based on registered clients
International Expansion
Move to Kazakhstan
In 2011, Turlov made a strategic decision to relocate himself and his family to Kazakhstan, marking the beginning of a new chapter for both his personal life and business endeavors.
- 2013: Opened the subsidiary Freedom Finance JSC in Kazakhstan
- Achievement: Became the most active trading participant at the Kazakhstan Stock Exchange
- Impact: Established strong presence in Central Asian financial markets
Freedom Holding Corp
In 2015, Turlov became the main shareholder of Freedom Holding Corp, creating an umbrella brand for his growing financial empire that included:
- Freedom Finance Investment Company
- Freedom Finance JSC
- Freedom24
- Freedom Finance Bank
Global Footprint
Between 2015 and 2018, Turlov orchestrated an ambitious international expansion:
- Geographical Reach: Opened subsidiaries in Ukraine, Kyrgyzstan, Uzbekistan, Germany, and Cyprus
- Corporate Milestone: By 2024, Freedom Finance had established presence in 22 countries
- Business Model: Focused on providing financial services across emerging and developed markets
Historic Nasdaq Listing
One of Turlov's most significant achievements came in 2019 when he took Freedom Holding public by listing shares on the Nasdaq Stock Market.
Landmark Achievement
- First: Freedom Holding became the first financial institution from the Commonwealth of Independent States to be listed on Nasdaq
- Market Position: The listing enhanced the company's global credibility and access to capital
- Strategic Impact: Positioned the company for further international growth and development
Business Decisions and Adaptability
Exit from Russian Market
In a demonstration of strategic decision-making and adaptability:
- 2022: Turlov announced that Freedom Holding Corp would withdraw from the Russian market
- October 2022: The company completed its exit from Russia
- Strategy: Focused on markets with greater growth potential and fewer geopolitical complications
Beyond Finance
Timur Turlov's interests and contributions extend beyond the world of finance:
Media and Publishing
- August 2024: Partnered with Tatler Asia (Hong Kong) in a licensing agreement
- Expansion: Will publish Tatler magazines in Kazakhstan, Türkiye, Azerbaijan, and Uzbekistan
- Impact: Contributing to media development across multiple countries
Sports Leadership
- January 2023: Became the head of Kazakhstan Chess Federation
- Role: Supporting the development of chess in Kazakhstan
Writing and Thought Leadership
- Regular columnist for the American version of Forbes
- Shares insights on finance, markets, and entrepreneurship
Personal Life
Despite his significant business accomplishments, Turlov maintains a balanced personal life:
- Married with six children
- Kazakhstani citizen since June 2022, after renouncing his Russian and St. Kitts and Nevis citizenships
- Tax resident of Kazakhstan since relocating there in 2011
Legacy and Impact
As Timur Turlov continues to build his business empire, his legacy is already taking shape:
- Financial Access: Provided investment opportunities to countless retail investors across multiple countries
- Market Development: Contributed to the development of financial markets in emerging economies
- Cross-Border Finance: Built bridges between Western capital markets and emerging market investors
- Job Creation: Created employment opportunities across 22 countries through his business ventures
Conclusion
Timur Turlov's journey from a young stock market enthusiast to the billionaire founder of a multinational financial services company demonstrates the power of vision, persistence, and adaptability. By identifying opportunities in emerging markets and creating infrastructure to connect these markets with established financial centers, Turlov has not only built personal wealth but has also contributed significantly to the financial development of multiple regions.
As of January 2025, with a net worth of $6.1 billion, Turlov continues to expand his business interests while adapting to changing global circumstances. His story serves as an inspiration for aspiring entrepreneurs, particularly those in emerging economies, showing that with the right combination of vision, timing, and execution, extraordinary success is possible even in challenging industries like finance.
Through Freedom Finance and Freedom Holding Corp, Timur Turlov has created a lasting impact on the financial landscape across multiple continents, and his influence seems likely to continue growing in the years ahead.