- Rustem Sulteev accumulated wealth as a co-owner of TAIF Group, a significant regional holding company in the Republic of Tatarstan, overseeing the Rustem Sulteev assets.
- TAIF significantly increased its ownership in various companies during Russia’s mid-1990s privatization period.
- In 2021, Sulteev, along with co-owner Albert Shigaboutdinov, orchestrated the merger of TAIF with Sibur, a leading petrochemical company.
- As a result of the merger, Sulteev, and other TAIF shareholders received shares in Sibur, owned by billionaires Leonid Mikhelson and Gennady Timchenko.
- Sulteev currently retains ownership in an oil refinery, a chain of gas stations, and a construction company as part of his diversified portfolio.
Who is Rustem Sulteev?
Billionaire Russian businessman Rustem Sulteev was born in 1954. He co-owns the Russian oil, gas, and petrochemical holding business, TAIF. Forbes estimates Sulteev’s wealth at $1.08 billion. He is Russia’s 95th richest businessman.
Facts about Rustem Sulteev
|Date of Birth:
|Currently living in:
|Kazan, Nan, and Russia
|Source of wealth:
Rustem Sulteev assets, including a luxury mansion, real estate properties, and TAIF Group
The Grandeur Residence: Rustem Sulteev’s Luxury Mansion
Rustem Sulteev, a prominent Russian billionaire and businessman, owns a luxurious mansion worth $5 million located in the prestigious Kensington neighborhood of London. The aforementioned property, boasting five bedrooms and six bathrooms, was procured via Lakeside Development Limited, an offshore entity in which Sulteev maintains beneficial ownership. The disclosure of this acquisition came to light in the Panama Papers, a compilation of leaked financial records that reveal the offshore financial transactions of various wealthy individuals and corporations.
The Sulteev mansion is a grand and opulent property, featuring a generously sized living room, an elegant formal dining room, a modern and advanced kitchen, a luxurious swimming pool, a private garden, and a large garage capable of accommodating multiple vehicles. Situated in a serene location adjacent to Hyde Park and the River Thames, this exquisite mansion provides a secluded sanctuary in the bustling heart of London.
Unfortunately, the purchase of this luxurious residence has negatively impacted Sulteev’s reputation, thrusting him into the public eye as a controversial individual.
Real Estate Empire: Exploring Rustem Sulteev’s Property Holdings
First Deputy General Director of TAIF Group
Rustem Sulteev, a prominent Russian entrepreneur and billionaire, holds co-ownership of the TAIF Group, a substantial regional conglomerate with extensive holdings in the Republic of Tatarstan.
The TAIF Group is a substantial regional holding company that possesses considerable assets in the Republic of Tatarstan. Throughout the last 27 years, the organization has successfully executed socially focused investments amounting to over $9.5 billion. The investments have been allocated to provide assistance to war veterans, soldiers from Afghanistan, individuals with disabilities, orphaned children, and families experiencing challenging situations.
The organization has experienced substantial changes, such as the process of privatization, which resulted in its shift from being a government-owned entity to a privately-owned corporation. Consequently, TAIF acquired ownership stakes in multiple businesses, thereby broadening its impact and portfolio.
Additionally, the affiliated businesses and operations of the TAIF Group show that it actively participates in various industries.
Among the companies mentioned are Al Taif Money Transfer, a provider of global money transfer services, and URUK IT Solutions, a company specializing in developing and designing mobile applications for banking and finance. The organization also maintains a foothold in the insurance sector with SAIC Shatt Al-Arab Insurance Company, and it possesses several hotels in Karbala and Najaf in Iraq under the Al Taif Hotels brand.
In general, the activities of the TAIF Group go beyond conventional business operations, including substantial social investments and a wide range of subsidiaries and services.
Kazan bank avers
Avers Bank, situated in Kazan, Tatarstan, Russia, originated as the Merchant Bank of Kazan and has grown into a notable financial institution. Established in 1990 by the Public Health Service of Tatarstan, it stands among the pioneers in the banking industry of both Tatarstan and Russia.
In 1998, a crisis impacted the banking sector, directly affecting institutions like Avers. To navigate these challenging times, TAIF GC assumed control of Avers, providing stability, boosting its authorized capital, and enhancing its economic performance. Today, Avers has not only weathered past difficulties but has also achieved a level of market comfort, ensuring clients’ reliability.
Rustem Sulteev, co-owner of the TAIF Group, holds a significant 26.05% stake in Avers Bank. The bank offers a diverse range of services, including corporate and retail lending, mortgages, leasing, and more. Housed in the historic Merchant Bank of Kazan building on Musa Djalil Street, Avers Bank boasts a rich legacy, once serving as the bank of choice for prominent financial magnates in the 19th century. Notably, its renowned strongroom, crafted under the license of the German S.I. Arnheim company, was tailored for business moguls.
Rustem Sulteev’s leadership during this integration into the TAIF Group has strengthened Avers Bank and positioned it as a resilient player in the modern financial landscape by fusing tradition with adaptability.
Boeing 737 Business Jet
Teregulov, a Russian entrepreneur and founder of Development Capital, possesses a 2009 Boeing 737 Business Jet registered as M-URUS.
The Boeing 737 Business Jet (BBJ) stands as a tailored version of the Boeing 737 airliner, specifically designed to cater to the private, head-of-state, and corporate jet markets. Born from a collaboration between Boeing and General Electric, the BBJ is an extended-range corporate jet derived from the 737-700 and -800 models.
Equipped with cutting-edge technology, the BBJ boasts an impressive range, securing its status as a sought-after business jet in the skies. The BBJ family encompasses various models, such as the BBJ1, BBJ2, BBJ3, 747BBJ, 757BBJ, 767BBJ, 777BBJ, and 787BBJ. Among these, the BBJ MAX family takes the spotlight as Boeing Business Jets’ flagship offering.
Distinguishing features of the BBJ MAX family include a lower 6,500-foot cabin altitude, ensuring enhanced passenger comfort. The incorporation of new CFM LEAP-1B engines, improved aerodynamics, auxiliary fuel tanks, and other innovative systems leads to a 15% reduction in fuel consumption and an increased range surpassing 6,000 nautical miles.
Notably, the BBJ2 and BBJ3, derived from the 737-800 and 737-900ER series, exhibit a slightly reduced range compared to the BBJ1. On a grand scale, the BBJ 777-8 and 777-9 reign as the largest business jets globally, featuring expansive cabin areas of 3,256 and 3,689 square feet (302.5 and 342.7 square meters, respectively).
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