RussiaFounded it
Vagit Alekperov
Vagit Alekperov, a former Soviet deputy oil minister, set up Lukoil in 1991 from three state-controlled oil fields and ran it until 2022; his fortune is his Lukoil shares and the dividends they paid.
- Forbes estimate
- $29.5B
- Forbes, 9 Oct 2026
- Forbes rank
- No. 78
- 9 Oct 2026
- Stake in Lukoil
- 8.6%
- Net worth, Bloomberg
- $25.5B
- Bloomberg, 8 Oct 2025
- Born
- 1950
- Baku, Azerbaijan
- Education
- Graduate degree
- Master of science in engineering, Azerbaijan Institute of Oil and Chemistry (1974)
- Giving Pledge
- Not a signer
Where the fortune sits
Lukoil stock and dividends
Lukoil
oil and gas, founded 1991
3.12% of the votes
Lukoil's April 2022 statement, as reported by Bloomberg: he owns 8.6% directly or indirectly. Bloomberg still credits him with 28.3% and Forbes with about 30%
LUKOIL information statement, 31 Mar 2022
Founder; no executive or board role
Where Vagit stands among 73
Everyone on the site, grouped by their answer. Vagit Alekperov is outlined.
How the fortune started
Founded it
Founded it 42
Inherited and grew it 12
Built it up 8
Inherited it 6
Through marriage 5
Industry
Oil, gas and chemicals
Oil, gas and chemicals 2
Technology 24
Finance 10
Several industries 9
Metals and mining 6
Retail 4
Fashion and beauty 4
Media 3
Food and drink 3
Shipping 3
Crypto 2
Healthcare 1
Casinos and resorts 1
Property and sports 1
Giving Pledge
Not a signer
Not a signer 61
Signed 11
Not stated 1
Education
Graduate degree
Graduate degree 24
Bachelor's degree 27
Left university without a degree 6
No university 5
Not stated 11
Role today
Founder, no executive role
Founder, no executive role 8
Runs the company 32
Chair, board or owner 25
No role 4
Retired 4
The person
- Born
- 1950Baku, Azerbaijan
- Citizenship
- Russia
- Lives in
- Moscow, Russia
- Education
- Graduate degreeMaster of science in engineering, Azerbaijan Institute of Oil and Chemistry (1974)
- Parents
- Youngest of five children; his father, an oil worker, died when he was 3
What they give
- Giving Pledge
- Not a signer
- Foundation
- Our Future FoundationSet up and financed by him; makes interest-free loans to social enterprises
- Lifetime giving
- Not stated
Role and record
- Role now
- Founder, no executive roleLukoil shareholder; left the presidency and board in April 2022
- Successor
- Vadim Vorobyev, first executive vice president, was named temporary president of Lukoil in April 2022
- Public office
- Soviet deputy minister overseeing the oil industry, before 1991
- Legal record
- 2022, UK governmentSanctioned by the UK in April 2022; he stepped down as Lukoil president days later.
- 2025, UK Companies HouseDisqualified from acting as a company director from 9 April 2025 as a person designated under UK sanctions (UK sanctions list reference RUS1334).
