Early Life and Career Beginnings
Timur Turlov, born in 1987, showed an early interest in finance, starting his career at just 16 years old as a trader with World Capital Investments (WCI), an American investment firm. His next role was with Uniastrum Bank, where he contributed to building the infrastructure for trading on U.S. stock exchanges, gaining valuable experience that laid the foundation for his future entrepreneurial success.
Establishing Freedom Finance
In 2008, Turlov launched Freedom Finance, a brokerage focused on providing access to U.S. markets. By 2012, he had expanded operations to Kazakhstan, transforming Freedom Finance into a full-service financial company. This success led to the establishment of a bank and a European brokerage, positioning Freedom Finance as a dynamic force in the financial sector.
The Birth of Freedom Holding Corp.
In 2019, Turlov consolidated his businesses under Freedom Holding Corp., which subsequently became the first CIS-based financial organization listed on Nasdaq (ticker: FRHC). The IPO, initially valued at under $15 per share, saw the stock surge above $80 by 2024. Turlov’s significant ownership in the company contributed to his rise in Forbes’ global rankings, with his net worth reaching $3.3 billion by mid-2024.
Creating a Comprehensive Financial Ecosystem
Freedom Holding Corp. has since evolved into a global financial powerhouse with offices in 22 countries and a diverse ecosystem centered in Kazakhstan. This ecosystem includes Freedom Bank, which offers digital lending and mortgage solutions; Tradernet, a multi-language trading platform; Freedom Pay for cross-border payment services; Freedom Life and Freedom Insurance for online insurance options; and Freedom Telecom, a telecom provider expanding broadband and 5G access. Today, around 5 million people use Freedom’s services globally.
International Expansion Across Europe and the U.S.
Freedom Holding’s expansion into the U.S. market began with the 2020 acquisition of Prime Executions Inc., granting direct access to American exchanges. In Europe, Freedom Finance Europe Ltd., established in Cyprus in 2021, operates in multiple countries, with over 200,000 client accounts. The acquisition of LD Micro in 2023 has further solidified Freedom’s foothold in the U.S., with the company now exploring new markets in Turkey, the UAE, and Azerbaijan.
Social Responsibility and Charitable Projects
In addition to his business endeavors, Turlov is deeply involved in social initiatives. He has led the Kazakhstan Chess Federation since 2023, supporting chess education and integrating it into school curricula. As chairman of the youth QJ League football program, he is dedicated to empowering young athletes. Freedom’s environmental efforts include collaboration with the Aral Sea International Fund and the launch of the AraldySaqta bank card, which facilitates donations for ecosystem restoration projects.
Freedom Holding is committed to sustainability, demonstrated by its first ESG report published in 2023 and the establishment of the Freedom Shapagat Corporate Foundation. This foundation centralizes the company’s philanthropic efforts, including a 2024 recycling project for plastic and aluminum waste collection in Almaty and Astana. Turlov’s recent appointment as Chairman of the UN Global Compact Advisory Committee in Central Asia reflects his dedication to addressing regional environmental and social issues.
Through his visionary leadership, Timur Turlov has not only transformed Freedom Holding Corp. into a leading financial organization but has also fostered meaningful impact through social and environmental initiatives, positioning the company as a model of responsible growth and innovation.
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