Born in 1955 in Baku, Azerbaijan, Farkhad Termurovich Akhmedov (Фархад Тимурович Ахмедов) is a self-made businessman with a net worth estimated at over US$1.4 billion. He launched his career by selling Russian sable skins in London at the commodity exchange. He then entered the gas and oil industry, and has since diverted into the fruit juice industry.
Early Life and Career
Known as a private person who likes to keep a low profile, Farkhad Akhmedov came from a challenging background. While he was still a young schoolboy, his father received a death sentence from the KGB. Akhmedov subsequently fled to Moscow at the age of 15, with a nominal sum of 48 rubles in his pocket. He started studying to be a mechanic, served in the Russian navy for several years and eventually became a fur specialist after graduating from the Moscow Veterinary Academy. After moving to London in the early 1980s, Akhmedov started trading sable skins sourced from Russia.
Entering the Gas Industry
In 1987 Akhmedov branched out into the gas sector by founding Tansley Trading Ltd. – a company through which he sourced and supplied equipment to gas production companies. He went on to buy a 5% stake in Northgas, one of the companies he was supplying equipment to. Northgas was founded by the Russian gas company Gazprom and the American engineering firm Bechtel. Akhmedov bought Bechtel’s 44% stake in Northgas and after court battles around these shares he sold his stake in the company to Novatek for an undisclosed amount which has since been rumoured to be between US$1.8 and US$5 billion. During the time that Akhmedov was in charge of Northgas it was known as the most efficient natural gas company in Russia.
Natural Beverages
In 2007 Akhmedov launched AzNar, a beverage manufacturing company. Located in Azerbaijan, AzNar mainly produces pomegranate juice, known as Nar juice in the area. It is exported to the United States, Europe, Japan and New Zealand. Despite pouring over US$125 million into the business, Akhmedov maintains that it is a hobby he started as a tribute to his late father, rather than a serious business.
Philanthropy
Known for his generosity in the fields of wildlife, children’s charities and art, Akhmedov has donated more than US$150 to various charitable causes in Russia and Azerbaijan. Because he made his way in the world alone at a very young age, Akhmedov strongly supports orphanages and schools. He also believes that animals should be looked after as humans are taking over their natural habitats.
Private Life and Friendships
Farkhad Akhmedov was married to Tatyana in 1993. The couple lived in Surrey in the United Kingdom where they had their two children. The couple was divorced and a financial settlement was reached in 2017. In the early 1980’s Akhmedov became friends with other Russian billionaires, including Pyotr Aven, Eugene Shvidler, Boris Berezovsky and Roman Abramovich. Throughout the 1990’s and 2000’s they were regularly seen taking holidays together in the French Riviera. It was also reported that Akhmedov bought one of Roman Abramovich’s yachts, the Luna, in 2014 for US$360 million.