Typically, you don’t read about non-Western success stories, but Timur Turlov is an exception. Turlov is an entrepreneur who founded Freedom Finance in 2008, a company that no one could have predicted would grow into a massive conglomerate. Today, Freedom Finance is known as Freedom Holding Corp, a gigantic multi-billion-dollar powerhouse that specializes in brokerage, banking, insurance, and more. From modest beginnings to one of the world’s most influential business leaders, continue reading to learn about Turlov’s growth and journey to financial success.
Early Life
Timur Turlov was born in 1987 and showed a promising interest in finance. Turlov started working in investment firms in his teenage years, acquiring a ton of experience. By applying this learned experience, he saw an opportunity to grow into a global market of investors willing to invest in the post-Soviet region. This opportunity manifested in the form of Freedom Finance.
Expansion
After only a few years, Freedom Finance spread beyond Russia, creating a significant presence in Kazakhstan. This expansion into Kazakhstan would quickly become one of the country’s leading brokerages, enabling further expansion into other regions worldwide. Following Kazakhstan, Freedom Finance expanded into Europe, which enabled access to the United States and other global stock markets.
During this time of expansion, a merger occurred in 2015 with BMB Munai, which subsequently formed the company we now know as Freedom Holding Corporation.
NASDAQ & Beyond
Four years after the merger, the company became known as Freedom Holding Corp In October 2019, the company was listed on NASDAQ under the ticker FRHC. This listing allowed Freedom Holding to gain immense credibility worldwide and access to international capital.
Since Freedom Holding’s listing on NASDAQ, the company has seen extremely rapid growth with billions invested from retail investors across the world.
Freedom Holding’s Offerings
Turlov’s goal was realized through Freedom Holding. Under his expert leadership, the company has achieved the following:
- Brokerage & Trading: Created platforms with access to the United States and International Markets.
- Banking & Insurance: Subsidiaries named Freedom Bank and Freedom Life.
- Consumer Servicing: Travel Booking, Grocery Delivery, and Ticketing.
- Telecommunications: Creation of datacenters and subsidiaries like Freedom Telecom.
Turmoil and Challenge
All success stories are full of challenges, which Turlov and Freedom Holding aren’t strangers to. From criticism from retail investors, regulations from the United States, and the difficulty of curating a worldwide market, Freedom Holding managed to break all the roadblocks. Turlov himself even renounced his natural-born Russian citizenship to reduce criticism and shift focus on the company’s footprint in Central Asian markets.
Despite all the trouble, Freedom Holding continues to grow and expand even today at a rapid rate.
What’s Next?
While Timur Turlov’s journey from a small-time investment firm worker to the head of a multinational company is nothing short of remarkable, the company must continue to grow. Currently, Freedom Holding is doubling down on the creation of telecom, infrastructure, and consumer services. The company is, without a doubt, looking to cement itself as both a financial bastion and providing consumer enrichment. While the future of the company isn’t set in stone, it’s something to keep an eye on for future investments and more.
