Patokh Chodiev Net Worth 2020

Patokh Chodiev Net Worth 2020

18:58 03.03.2020

Although on the one hand, we see that there is an economic crisis in the world that was specially announced during and after the coronavirus, the world is also recording a new number of billionaires day by day. Being a millionaire has become a not so big thing because a lot of singers, entrepreneurs, actors, and others have reached that seven-digit number in a very short time. However, to become a billionaire requires a lot of effort and most likely time. According to a survey conducted by Forbes in March this year, there are 2.095 billionaires in the world. While some people saw wealth in IT technologies or stock and cryptocurrency trading, others opted to trade in natural minerals, oil, and other derivatives. Patokh Chodiev himself is no exception. But, let’s start from the beginning.

Who is Patokh Chodiev?

Patokh Chodiev

Patokh Chodiev is currently No 275 on the list of billionaires. He was born on April 15th, 1953 in Uzbekistan. He is married, father of one son and two daughters. His wealth is estimated at 3,3 billion dollars. His yacht alone costs a staggering 100,000,000 dollars, so there is no need to enumerate all that he possesses. At the Moscow State Institute of International Affairs (MGIMO), he studied international law and Japanese. When we talk about his education, we can say he is an international businessman, author, and philanthropist. He earned a Ph.D. in political science and speaks fluent Uzbek, Russian, Japanese, and English.

After graduating, he had an opportunity to work as a leading specialist in Soviet- Japanese economic relations in the Ministry of Trade of the USSSR in the period from 1979-1989. After it, he becomes a counselor for the Prime Minister in Kazakhstan (1995-1997).

After leaving diplomatic service he founded a global mining business that operates under the name Eurasian Resources Group (ERG) today. He established “Trio” together with Alexander Mashkevich and Alijan Ibragimov and made his fortune by trading minerals, oil, and gas in Kazakhstan. To read more about it visit Forbes.com. In addition to all, he is also credited with founding both Eurasian Bank and the Eurasia Insurance Company which happen to be the largest insurance company in Kazakhstan. He is also a member of the Academy of Natural Sciences of the Republic of Kazakhstan. Dr. Chodiev is a noted philanthropist who works hard to provide better education for young people.  He has received many awards, and we will emphasize the one he got in 2005 from the President of Kazakhstan for his contributions to social, economic, and cultural causes. In 2011 was awarded for special service to this country, but also industrial, scientific, and social activities. Recognitions continued to go on until 2019 when he received the “Patron of the Year” award for sponsoring the tour of the Kabuki Theatre in Russia.

Patokh Chodiev

Although he does don’t speak any of three official languages in Belgium (Dutch, French, or German), in 1997 Chodiev applied for citizenship. Belgian State Security Service expressed concerns due to this matter, but very soon he received the support of the Mayor of Waterloo, Serge Kubla, but also the State Security Service, the Waterloo Police Department, Service for Foreigners Affairs and Public Prosecutor’s Office. In the investigation launched in 2017, Serge Kubla denied that he helped Chodi’s process of naturalization in Belgium, and in 2018 it was officially confirmed by a parliamentary commission. His name was among the names of 700 other Belgians associated with the April 2916 Panama papers scandal about offshore companies, which you can read in more detail here on lachambre.be. Many Belgian and world media reported about his life and the mentioned scandal he was involved in. In an article published in April 2018, Patokh Chodiev demanded an apology from the Belgian state for damaging his reputation by telling untruths about him. More about this topic can be found here on lalibre.be  As early as 1999, the energy company Tractebel accused its two workers of embezzling 55 million dollars intended for consulting compensation to Chodiev and his two associates. Chodiev and his associates were suspected of money laundering, for which they were also under investigation, but the state court in Brussels suspended the procedure, and they were asked to pay a lump sum bill of over half a million euros.

Together with already mentioned Alexander Mashkevich and Alijan Ibragimov runs many ventures in the mineral sectors in Brazil, Kazakhstan and Africa. Their company was transferred to the London Stock Exchange by becoming the part of FTSE 100 in 2008. As a major shareholder of Eurasian Natural Resources Corporation (ENRC), he made a profit of 1,462 billion dollars by investing only 3,8 billion in 2009. This company whose seat was in London, exploited several mineral deposits in Kazahstan and Africa after I started with mining operations in Eastern Europe and Africa. In cooperation with the authorities of Kazakhstan, the company left London stock and is being renamed in Eurasian Resources Group (ERG) with the seat in Luxemburg.

Patokh Chodiev

His humanitarian organization carried out a series of activities, so they helped in the echo pandemic in March this year, both in Kazakhstan and around the world. However, this organization was founded back in 1996 under the name International Chodiev Foundation. It had a major role in the implementation of the Government program to provide social assistance to those endangered by the coronavirus. What is it really about? The first stage was to help by providing food and hygiene products to the elderly and poor people all over the country. Every package also contained direction on how to prevent spreading coronavirus. This is just another humanitarian action in a series carried out by the above-mentioned foundation. To ensure the implementation of these measures, an anti-crisis committee was formed and was guided by the Prime Minister of Uzbekistan. Ever since the mid of March, the committee is focused on preventing COVID-19 spreading among people, but also to ensure safe working in the industry, transport, and logistics.

Today, this foundation operates as a global center for art, science, and education developing, so as innovations in Eurasia.