Biography in self-made style

Before getting on the Bloomberg Market and Forbes lists, Bulat Utemuratov took a difficult path. His began his work activity as a lecturer of Economics at the Institute of National Economy. Then there were posts in the sphere of trade and positions in the department of the middle level. The first great chance from fate Bulat Utemuratov got, when he was chosen to work at the Trading House of Kazakhstan in Vienna in the early 1990s. Cooperation with the European business elite allowed Kazakhstan to establish strong links with Western partners and to assert itself on the world stage.

The first million

As Bulat Utemuratov told to the journalist from Bloomberg, his first million dollars he earned reselling nickel and copper from Kazakhstani Ore Mining and Processing Enterprise to major European corporations. The businessman emphasizes that he acted openly and lawfully, so he can report for every cent. Over time, the mining industry does not come out of Utemuratov’s sphere of interest. Yuzhnyi and Severny Raigorodok gold deposits, as well as Vasilkovsky Ore Mining and Processing Enterprise belong to the group of companies Verny Capital, which manages the assets of the billionaire.

In the high offices

Bulat Utemuratov worked a lot in the diplomatic service and in the office of the President. In 1996, he served as Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan in Switzerland. And after returning home he became a trusted confidant of Nursultan Nazarbayev and assistant on foreign policy and foreign economic issues. After a while, Bulat Utemuratov headed the Security Council of Kazakhstan and took office as manager of the affairs of the President and adviser to the President. At the same time, he entered the political council of the party “Nur Otan”.

Capital investments

Bulat Utemuratov is a key shareholder of Verny Capital. With the help of this company, the businessman invests in telecommunications, media and real estate. He owns a luxury hotel Rixos Borovoe on Lake Shchuchye and a multifunctional complex Talan Towers. Verny Capital controls the activity of the chain of fast food restaurants Burger King, which entered the Kazakhstan market in 2012.


The charity foundation Asyl Miras, established by Bulat Utemuratov, implements several large projects aimed at helping children with cerebral palsy and autism spectrum disorders. In addition, the businessman finances a variety of socially significant initiatives. Under his patronage, the BURABIKE bike ride is conducted and the endowment foundation at the Narkhoz University functions.

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