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Kenes RakishevKazakhstan businessman, president of the Fincraft Group holding
Date of Birth: 14.07.1979
Country:  Kazakhstan |
Content:
- Kenzhebek Rakishev: A Business Colossus
- Education and Early Career
- Leadership in the Corporate Sector
- Innovation and Technology
- Social Contribution and Recognition
Kenzhebek Rakishev: A Business Colossus
Kenzhebek Rakishev, a prominent Kazakh businessman, has made his mark as the President of Fincraft Group, formerly known as Sat & Company. His vast business empire encompasses pivotal roles in Net Element, Fastlane Ventures, and Singulariteam. Rakishev holds a coveted position among the elite, consistently ranked among the "Top 50 Wealthiest Businessmen in Kazakhstan" and "Top 50 Most Influential Businessmen in Kazakhstan" by Forbes magazine. In the 2021 Forbes list, he clinched 9th place with an impressive fortune of $950 million.
Education and Early Career
Born into a family with a strong business legacy, Rakishev earned his bachelor's degree in law from the Kazakh State Law Academy (KazGUA) in 2000. He further pursued a master's degree in economics from the Kazakh Economic University named after T. Ryskulov in 2002. Later, he honed his business acumen by completing Advanced Management from Oxford Saïd Business School and Developing Strategy for Value Creation from London Business School in 2007.
Rakishev's professional journey began in 1998 as an advisor to the Road Safety Fund under the Ministry of Internal Affairs of Kazakhstan. He made significant strides at various organizations, including KazTransGas, Intergas Central Asia, and sat as the General Director of Mercury LLP from 2004 to 2005.
Leadership in the Corporate Sector
In 2006, Rakishev's leadership abilities propelled him to the Chair of the Board of Directors of SAT & Company, later renamed Fincraft Resources. His astute investments in ferroalloy companies, spanning Kazakhstan, Turkey, and China, solidified his dominance in the industry. His involvement in SAT & Company earned him a stake of 75.61% in its shares.
Rakishev ventured into the world of high technology as the Chairman of the Board of Directors of Net Element, an American firm. This move earned him the moniker "first Kazakh on NASDAQ after Net Element's successful IPO in October 2012. He also made a strategic investment in Fastlane Ventures, a venture capital fund, in 2012.
According to Buzzsparks, Rakishev ranked 8th among the world's top private investors in 2012, with his investments reaching $72 million. His investment portfolio included notable companies such as Bank Astana-Finance and Genesis Angels, a venture capital fund focusing on robotics startups.
In 2013, he acquired a stake in Central Asian Metals PLC (CAML), a British mining company, and became its non-executive director. His tenure at CAML witnessed a significant increase in its valuation, rising from $100 million to $500 million.
Innovation and Technology
Rakishev has been instrumental in fostering innovation and advancing cutting-edge technologies. His involvement in Sirin Labs, a company he co-founded with Mosche Hogeg, culminated in the launch of the groundbreaking Finney smartphone. Equipped with blockchain technology, the Finney garnered immense attention and funding through an ICO in 2017.
Through his company Fincraft Holdings Ltd., Rakishev acquired a substantial stake in the Russian gold mining company Petropavlovsk. He consolidated his holdings in 2018, focusing on core sectors like gold mining and base metals.
Social Contribution and Recognition
Beyond his business achievements, Rakishev is dedicated to social causes through the Sabi Charitable Foundation founded by his wife, Asel Tasmagambetova. The foundation supports education, healthcare, and infrastructure projects, particularly for the underprivileged.
His contributions to the community have garnered recognition, including the Order of Kurmet in 2015 and the Order of Akhmat Kadyrov from Chechnya. Forbes has consistently listed him among the top influential business leaders and wealthiest individuals in Kazakhstan.
