Kenes (Kenges) Rakishev, born in 1979, is a prominent figure from Kazakhstan known for his extensive entrepreneurial and business endeavors. He is closely linked to Kazakhstan’s political elite as the son-in-law of Imangali Tasmagambetov, a former Prime Minister of Kazakhstan.

Rakishev has carved a notable career in both domestic and international business arenas, holding the position of a special envoy to the United States. His business accomplishments include assuming a significant share in Qazkom and leading its rebranding initiatives. His engagements span various sectors, including finance and investments. Beyond his commercial activities, Rakishev is known for his philanthropic efforts and has held the position of president within the Kazakh boxing federation.

Factbox

Kenes Rakishev business activities

1. Banking and Finance: Rakishev obtained a significant stake in BTA Bank (website) from the Kazakh government after it was temporarily nationalized. He then became the new chairman of the bank’s board of directors. Rakishev was also involved in a major acquisition and merger process, significantly increasing his stake in Kazkommertsbank (Qazkommertsbank) JSC or Qazkom, eventually becoming its largest shareholder and chairman of the board of directors.
2. Mining and Metals: He acquired a 22% stake in the London-listed gold miner Petropavlovsk PLC from Viktor Vekselberg and sold it a year later to Roman Trotsenko after turning around the company’s performance.

3. Retail: Rakishev has invested in the Magnum Cash & Carry retail network in Kazakhstan, obtaining a non-controlling, yet strategic stake which has been used for further development and debt repayment.
4. Industrial Holding and Investments: He serves as the Chairman of the Board of Directors of Sat & Co Managing Company, a diversified industrial holding, and has made investments through Sat & Co Managing Company and Singulariteam Ltd. His investments span technology, oil and gas, finance, shipbuilding, metals, and mining sectors.
5. Media: Rakishev has full ownership of Sedmoy Kanal, a national TV Channel in Kazakhstan.
6. Technology: Rakishev invested $32 million in Net Element, Inc. a technology services provider and Internet publisher based in South Florida. His role expanded to serving on the company’s board of directors following his investment, highlighting his active involvement in fostering technological innovation.
7. Fincraft Group: This addition signifies Rakishev’s broader interests and investment in financial services and other sectors, expanding his influence and operational scope further into the economy.

In addition to his business activities, Rakishev holds positions in various organizations and has been recognized for his contributions to the business world with several awards and honors. He is known for his strategic thinking and innovative approach to business, which has helped him build his wealth and influence in Kazakhstan and internationally.

Rakishev’s awards and honors

Kenes Rakishev has been involved in various notable activities and philanthropic efforts which have significantly impacted his reputation and societal contribution:

1. Business and Philanthropy: Rakishev is known for his business acumen and diverse investments, ranging from high-tech startups to mining and finance. Apart from his business endeavors, he and his wife are active in philanthropy, supporting various causes and organizations in Kazakhstan and internationally. They have significantly contributed to education, healthcare, and environmental conservation through their foundation Saby, established in 2002​​​​.
2. Sports and Community Engagement: Rakishev has been a fervent supporter of sports development in Kazakhstan, particularly boxing. As the president of the Kazakhstan Boxing Federation, he has been instrumental in promoting boxing and supporting athletes. Under his leadership, the Kazakhstan women’s boxing team achieved remarkable success at the Asian Women’s Boxing Championship, securing eight out of ten gold medals. In recognition of their triumph, he established an additional prize fund to enhance the rewards for the champions and top performers​​.
3. Education and Youth Initiatives: Kenes Rakishev has also invested in education and youth initiatives. He has played a significant role in supporting young entrepreneurs through the development council for youth entrepreneurship at the National Chamber of Entrepreneurs of Kazakhstan. His involvement has been crucial in fostering the growth of young entrepreneurs in the country. Furthermore, the “Saby” foundation has organized competitions like “Build Your Business” to provide financial assistance and business development grants to young entrepreneurs​​.
4. Environmental Initiatives: Rakishev’s commitment extends to environmental sustainability as well. He has been involved in initiatives aimed at saving endangered species and supporting green projects, demonstrating his dedication to ecological causes and the well-being of the planet​​.
5. Culinary Ventures: Recently, Rakishev ventured into the food industry by orchestrating the public offering of Borealis Foods, and engaging in a partnership with renowned chef Gordon Ramsay to change the international food market. This partnership aims to blend culinary expertise with sustainability and innovation, potentially redefining the food industry landscape​​.

Kenges Rakishev Net Worth

Kenes Rakishev’s estimated net worth is approximately $960 million according to Forbes magazine.