Vagit Yusufovich Alekperov is an Azerbaijani and Russian businessman, the president of the leading Russian oil company LUKOIL.
Vagit Yusufovich Alekperov (Azerbaijani: Vahid Yusuf oğlu Ələkbərov, Russian: Вагит Юсуфович Алекперов; is an Azerbaijani and Russian businessman, the president of the leading Russian oil company LUKOIL
As of 16 April 2021, according to Bloomberg Billionaires Index by Bloomberg L.PAlekperov has an estimated net worth of USD $19.6 billion ranking him the 94th richest person in the world and the 5th wealthiest person in Russia.
Alekperov was born in Baku, Azerbaijan SSR, one of the earliest centers of the international petroleum industry. 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’s father was an Azerbaijani Muslim and his mother, Russian Orthodox. 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.
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.
Alekperov moved to Western Siberia in 1979 and worked at Surgutneftegaz between 1979 and 1985, earning his reputation as an industry expert. He held ascending positions and by 1985 became first deputy general director of Bashneft production company. In 1987, he became general director of the newly created production company Kogalymneftegaz.
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. At that time, Alekperov promoted the establishment of vertically integrated state-owned energy companies, which would bring together the wide range of organizations in the energy sector that were, at the time, reporting to different Soviet bureaucratic institutions.
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[clarification needed] oil companies, with reserves second only to ExxonMobil.
LUKoil was the first Russian company to acquire an American company. In November 2000, LUKoil acquired Getty Petroleum Marketing and its 1,300 gas stations in the United States Like many other Russian oligarchs, Alekperov has also moved into banking and media. In May 2006 Alekperov was one of the two main owners of IFD Kapital Group.
In 2018, Alekperov first said in an interview that he was looking for a successor to his position, a staff reshuffle, he said, could take place at the company in 2023.

Alekperov was the first Russian citizen who received the Woodrow Wilson Award. He was honored in 2005 for achievements in corporate leadership.
On 31 August 2020, ahead of Vagit Alekperov’s 70th jubilee, Azerbaijani President Ilham Aliyev awarded him with the “Dostlug” order for his special services rendered to the development of mutual relations between Azerbaijan and the Russian Federation.
In 2007 Vagit Alekperov founded The Foundation “Our Future” to promote social entrepreneurship in Russia.
Alekperov has repeatedly stated publicly and has confirmed that, according to his will, his stake in Lukoil (over 20% of the company) will be transferred to a specially created charitable foundation.[13]
In 2020 coronavirus pandemic, Lukoil has donated more than RUB 652 million in 22 Russian regions and almost $900 000 dollars in its operation countries abroad.[14] Vagit Alekperov also donated RUB 50 million of personal finances to fight coronavirus in the Republic of Komi.[15]