Vagit Alekperov net worth
What is Vagit Alekperov’s net worth?
Vagit Alekperov. Photo: Elenamit1, CC BY-SA 4.0, via Wikimedia Commons
Net Worth: $3bn
Age: 71
Born: September 1, 1950
Gender: Male
Height: Unknown
Country of Origin: Azerbaijan
Source of Wealth: Entrepreneur
Last Updated: August 2, 2022
Introduction
Vagit Alekperov is an Azerbaijani and Russian businessman, the president of the leading Russian oil company LUKoil.
In 2019, he was rated by Forbes magazine as the third richest person in Russia with a net worth of $21.1bn and the 46th richest person in the world.
As of August 2022, Vagit Alekperov’s net worth is roughly $3bn.
Early Life
Vagit Yusufovich Alekperov was born on the 1st of September 1950, in Baku, Azerbaijan.
His father, who died when Vagit was a boy, worked in the oilfields all his life and inspired Alekperov to follow in his footsteps.
Alekperov is religious but does not define himself as either Muslim or Orthodox. He was eighteen when he landed his first job in the industry.
Vagit Alekperov’s Career
Alekperov graduated in 1974 from Azerbaijan Oil and Chemistry Institute. As a student, he also worked as a drilling operator in Kaspmorneft, a Caspian regional production company.
After graduation, he continued to work there, and by 1979 he had advanced from engineer to deputy head of a production unit. He had to work in extreme conditions on oil platforms. On one occasion, an explosion on his rig threw him into the stormy Caspian sea, and he had to swim for his life.
In 1990, Alekperov was appointed deputy minister of the Oil and Gas Industry of the Soviet Union and became the youngest deputy energy minister in Soviet history.
As deputy minister of the oil and gas industry of the Soviet Union, Alekperov was engaged in the formation of the first vertically integrated state-owned energy company, Langepas-Uray-Kogalymneft, which was established in late 1991 as a subsidiary of the Ministry of Fuel and Energy.
In April 1993, Langepas-Uray-Kogalymneft became LUKoil Oil Company, with Alekperov as its president.
Alekperov has remained president of LUKoil since that time. Employing more than 100,000 people, today LUKoil is among the world’s most powerful oil companies, with reserves second only to ExxonMobil.
As of August 2022, Vagit Alekperov’s net worth is $3bn.
Highlights
Here are a few highlights from Vagit Alekperov’s career:
Alekperov is the president of LUKOIL.
He was appointed deputy minister of the Oil and Gas Industry of the Soviet Union and became the youngest deputy energy minister in Soviet history.
Favourite Quotes from Vagit Alekperov
“We’re constantly on the lookout for new projects and monitoring the market. We’d like to bolster our core assets, including exploration, refining, processing, and retailing assets in the regions where we have a strong presence.”– Vagit Alekperov
“Today, crude oil is sold at the price of the Urals brand, and in terms of quality, we have been losing big money. Given the oil directly reaches the final buyer, all that money will stay in Russia.” – Vagit Alekperov
“In the Soviet Union, I was the head of all oil production. And you know in the Soviet Union, you didn’t get that job unless you were worth it.” – Vagit Alekperov
Three Leadership Lessons From Vagit Alekperov
Here are the top lessons to learn from the success Alekperov has achieved:
- Leadership Is Not A Dictatorship
Make your leadership worth following. Be an example, not just the king of the mountain in a kid’s game. Leadership means being very human and working for others.
- Leadership Is An Art
Being artful in leadership means seeing the beauty in people, in the diversity of their feelings and desires, and finding unique solutions for every demand.
- Inspire Trust
When people trust a leader, they trust each other easier and collaborate more effectively. If employees don’t trust leaders, then they only trust each other.
Summary
Vagit Alekperov is a businessman who quickly has established himself as an expert, and subsequently became the director, or deputy director, of many oil production companies.
In the early 90s, the government came calling, and he became the Deputy Prime Minister of the Oil and Gas Industry of the Soviet Union.
As of August 2022, Vagit Alekperov’s net worth is $3bn.
