Said Kerimov – A Promising Future in the Russian Business World
Russian businessman Said Kerimov (Саид Керимов) is a rising entrepreneur with vested interests in a variety of industries including mining, air transport, and until recently, entertainment. He is the son of Suleyman Kerimov – an acclaimed Russian politician, investor and businessman.
Said Kerimov’s Current Commercial Ventures
Said Kerimov did not wait to complete his studies before becoming active in various business ventures. He is the majority shareholder of several companies including a large mining company and an airport. Kerimov is also interested in the entertainment industry and previously owned a major network of cinemas.
Polyus Mining Company – In 2015 Said Kerimov received majority shares in Polyus. Known as the biggest gold mining concern in Russia, Polyus is responsible for a significant part of the country’s gold reserves. After procuring the Sukhoi Log gold deposits located in the Irkutsk region for close to 10 million rubles, Polyus also obtained the required licensing to develop and mine the area. The deposits are considered to have increased the percentage of gold reserves in the country owned by Polyus to nearly 30%. Due to his influential involvement in this industry, Said Kerimov is often referred to as the Golden Prince of Russia.
The Makhachkala Airport – Before Kerimov took ownership of it, this airport belonged to Dagestan Airlines. After the company fell into financial trouble it was declared as bankrupt towards the end of 2013 and the airport was auctioned off to a firm called Doxa Investments. Ownership was then transferred to Kerimov. Under the new ownership passenger statistics have improved by 23% and revenues have increased significantly.
Cinema Park Network of Cinemas – Said Kerimov became the owner of Cinema Park, which consists of 39 cinemas located across Russia, in 2014. The company was sold to Kerimov by Russian magnate and entrepreneur Vladimir Potanin for a speculated amount of between US$300 and US$400. Said sold Cinema Park in early 2017, and since then he has been looking into the option of buying yet another cinema network called Formula of Cinema – a chain of 35 movie houses spread out across Russia.
Other Potential Business Ventures
In 2017 Said Kerimov was granted permission by the FAS to acquire major shares in RNT, a privately-owned information technology company. However, he chose not to move ahead with the transaction. Reportedly, he was not convinced that the deal offered him adequate investment potential in the industry at that time. Kerimov continues to follow the IT sector closely with the intention of considering future investments in this rapidly developing field.
Said Kerimov was already deeply entrenched in business while he was studying at the prestigious International Institute of Energy Policy and Diplomacy at MGIMO University. He finished his studies in international business administration in 2016 and continued expanding his investment portfolio. Besides his business endeavors, not much information about Kerimov is available to the public. His social media presence is practically non-existent and he rarely attends any publicized events.