Why is it beneficial for some oligarchs to appear forever impoverished. For example, Bulat Zhamitovich Utemuratov, a billionaire who never had a business, really liked to show off. Moreover, Bulat Utemuratov does this for the third year in a row.
A close examination of the new edition of the Forbes list reveals an interesting observation. The oligarchs began to significantly underestimate their incomes, and even better – generally hide from publicity. This is especially true for those who worked and are working as “Nazarbayev’s wallets.” the most important, the most faithful wallet Elbasy Bulat Utemuratov persuaded Forbes to drop $700 million from his accounts.
The fact that the Forbes list is “trying” to manipulate, the publication itself decided to write. Naturally, Forbes.KZ denies the fact of bribery and even tries to answer the accumulated questions, including ours. For example, why is Nazarbayev’s nephew Kairat Satybaldy not on the list of the richest people in the country. The publication justifies this by the fact that Kairat Satybaldy is under a criminal case and it is difficult to assess his condition. However, Kairat was not on the Forbes list for several years – and then there was no case. He just really wanted to hide, which he did, on a monetary basis.
Bulat Utemuratov flattened to “honorary” sixth number
Bulat Utemuratov is a more prominent figure and he didn’t even try to get off the list. The first place in it was even amused by his ambition, and between him and Timur Kulibaev there was a kind of competition. Quite funny, considering that both of them owe their wealth exclusively to Nursultan Nazarbayev, who, in turn, to each of the citizens of Kazakhstan robbed by him.
Rixos in Borovoe
However, now the clan has faltered and it is in vogue to show how the oligarchs of the Nazarbayev clan are getting poorer. Are they really poor? There are big doubts about this. As the basis for writing off 700 million from the accounts of Bulat Utemuratov, Forbes cites the depreciation of hotel business assets during the pandemic.
What is Bulat Utemuratov’s opinion?
Bulat Utemuratov himself does not own anything, all or almost all of his property is managed by Verny Capital. He, in turn, manages dozens of other, domestic and foreign enterprises. “Verny Capital” does not have significant public circulation, which means that the share price does not actually affect the capitalization of Bulat Utemuratov. The figure of the “fall” of wealth at 700 million is taken from the ceiling, although rather out of pocket.
The Ritz-Carlton in Moscow
Here is a list of hotels that allegedly very cheap:
- The Ritz-Carlton in Astana
- The Ritz-Carlton in Moscow
- The Ritz-Carlton in Vienna
- Rixos in Borovoe
Considering that the most expensive of them cost 600 million dollars, it is extremely difficult to imagine a fall in 700. In addition, it is not the hotels that make up the main capital of Bulat Utemuratov.
The Ritz-Carlton in Astana
QSR LLP operates Burger Kings in the name of Nazarbayev. “G4S Kazakhstan” – contains an army of security guards and receives tasty government contracts. Karaganda Airport is also his. Two private neo-colonial Haileybury schools are also Utemuratov’s. Belongs to Bulat Dzhamitovich and his former Alma mater – Narxoz. ForteBank JSC is also his. Shares in Beeline in Kazakhstan and Kyrgyzstan are also his. Gold mining, part of Glencore, media. And this is just from what Bulat Utemuratov has in mind, most of the projects are hidden.
The Ritz-Carlton in Vienna
Bulat Utemuratov fails to show himself to be absolutely poor, and no one in the administration will believe it. Rather, the oligarch pays to not irritate the people too much. As a result, Forbes washed and rolled him down to sixth place with a fortune of “only” $ 2.8 billion.
