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Biography of Timur Turlov

Early Life and Education

Born in 1987, Timur Turlov holds a degree in economics. His career began at just16, working as a trader at the American investment company World Capital Investments (WCI). He later joined Uniastrum Bank, where he was instrumental in developing infrastructure for U.S. stock market access within the bank’s subsidiary.

The Foundation of Freedom Finance

In 2008, Turlov founded Freedom Finance, a brokerage firm providing access to U.S. stock exchanges. In 2012, he expanded into Kazakhstan, where he successfully built a brokerage company that later grew to include banking, online brokerage, and European stock trading services. By 2019, these ventures were consolidated into Freedom Holding Corp., a unified holding company.

In October 2019, Freedom Holding Corp. made history as the first financial institution from the CIS to list on NASDAQ under the ticker FRHC (FRHC:NASDAQ CM). Initially priced under $15 per share, the stock surpassed $80 by July 2024. As a NASDAQ-listed company, Freedom Holding Corp. adheres to U.S. Securities and Exchange Commission (SEC) regulations for financial reporting and operational oversight.

Wealth and Recognition

Turlov’s significant ownership stake in Freedom Holding Corp. earned him a spot on Forbes’ global list in 2021, ranking 1517th with a net worth of $2.1 billion. By May 2024, his fortune grew to $3.3 billion, placing him 991st among the world’s wealthiest individuals.

The Freedom Ecosystem

Today, Freedom Holding Corp. operates as a global financial services company with offices in 22 countries and a robust financial ecosystem in Kazakhstan.

  • Freedom Bank (Previous Kassa Nova Bank, was acquired in 2024): Offers innovative services like digital mortgages, online business loans, and the Freedom SuperApp, a one-stop platform for managing finances, purchasing insurance, applying for loans, and even booking airline tickets.
  • Tradernet: A proprietary trading platform supporting Freedom brokers across jurisdictions in 16 languages. It leverages AI for issuer analysis, competitor benchmarking, and news evaluation.
  • Freedom Pay: A cross-border payment solution operating in Uzbekistan, Kyrgyzstan, and Kazakhstan, designed to enhance business sales and customer experience.
  • Freedom Life & Freedom Insurance: Online insurance providers with a growing customer base. Freedom Life’s endowment insurance is a bestseller, while Freedom Finance Insurance is pioneering an online car insurance payment system using DTP.kz.
  • Freedom Telecom: A telecommunications leader offering broadband, 5G, and cutting-edge technologies like WiFi 6E/7 and air-to-ground internet for flights in Kazakhstan. By 2025, the company will lay over 300,000 kilometers of fiber optic cable and launch Freedom Media Platform, focusing on content creation and streaming services.
  • Lifestyle and Retail: Includes Arbuz.kz (online supermarket), Aviata (travel booking), Freedom Mobile (electronics retail), Freedom Drive (driver-focused goods and services), and Ticketon (event ticketing).

Over 5 million customers worldwide use Freedom’s products and services.

Global Expansion

With a market capitalization nearing $5 billion on NASDAQ, Freedom Holding Corp. operates in countries including the U.S., Kazakhstan, Germany, Cyprus, and the UK. Turlov retains a 71% stake of the fiscal year ending March 2024.

Freedom’s international reach includes membership in MSCI indices and credit ratings from S&P Global Ratings. In Europe, its subsidiary Freedom Finance Europe Ltd. has direct membership in Euroclear and offices in multiple EU countries, serving over 200,000 accounts. In the U.S., Freedom acquired Prime Executions Inc., securing a foothold on major stock exchanges and entering investment banking and underwriting.

Social Initiatives and Philanthropy

As President of the Kazakhstan Chess Federation since 2023, Timur Turlov has driven its growth, earning him the title of “Best President of an Accredited Sports Federation.” He also supports the QJ League, a youth football initiative, and collaborates with the International Fund for Saving the Aral Sea (IFAS) on environmental projects.

Freedom’s charitable arm, the Freedom Shapagat Corporate Foundation, focuses on sustainable development, launching initiatives like a plastic and aluminum recycling network in Kazakhstan. In May 2024, Turlov became Chairman of the UN Global Compact’s Advisory Committee for Central Asia, addressing regional issues like water and energy security.

Personal Life

Timur Turlov lives in Almaty with his wife and six children. In his leisure time, he enjoys playing chess, reading fiction, hiking, and cycling.