What is Igor Makarov's Net Worth?
Igor Makarov is a businessman and philanthropist who has a net worth of $2.1 billion. Igor Makarov was born in Turkmenistan, lived for a period in Russia but has been a resident of Cyprus since 2011. In the summer of 2023 he fully renounced his Russian citizenship.
Makarov is the founder and owner of ITERA (International Group of Companies). In the 1990s, the company was Russia's main exporter of gas from Turkmenistan. In 2013, Igor sold ITERA and all other Russian-based oil and gas assets.
Igor Viktorovich Makarov was born in Ashgabat, Turkmenistan on April 5, 1962. After earning a Bachelor's degree from Turkmen State University in 1983, he went to serve in the Soviet Army. Next, he spent some time working as a professor at the Kazan State University (1986-1989), after which he switched to the private sector (1989-1992).
(Photo by Tim de Waele/Corbis via Getty Images)
In 1992, he founded ITERA, which would soon become a major producer or and explorer of natural gas. The group eventually expanded its operations in other fields of energy industry including oil extraction, pipeline transportation and coal mining, civil and industrial engineering, as well as finance and insurance. In 2012, ITERA started a joint venture with the oil company Rosneft, which estimated that ITERA's business was net worth of around $3 billion at the time. As we stated previously, Igor sold ITERA and his other Russian-based oil/gas assets in 2013.
An avid cyclist and once a member of the Russian cycling team, Igor Makarov was the President of the Russian Cycling Federation from 2010 to 2016.
