Aras Agalarov

Early life

Born in Baku, Agalarov was educated at the Azerbaijan Polytechnical Institute. There, he studied computer engineering and was a member of the Communist Party of Azerbaijan and Baku City Committee.

Scientific and Creative Activity

Candidate of Economic Sciences; in 1998 defended a dissertation entitled “Formation and Use of the Wage Fund Using a Communications Enterprise as an Example”.

Honorary Member of the Russian Academy of Arts since 2015.

Author of the books “My View of Russia in the Era of Reforms” (1998), “Russia: Reflections on the Path to the Market”, and “Another Attempt?… Articles on the Russian Economy Published in 1996–1999.”

In January 2020, Araz Agalarov criticized the economy of the Russian Federation: “GDP cannot grow in Russia with such low wages and pensions and such high taxes” .

Career

Agalarov then opened the first Crocus Inter store, which became a retail business that includes malls offering housewares. This moved him into property development, where he built the Crocus City Mall, the largest shopping centre in Moscow. Adjacent to this he then built the largest trade center in Russia on the outskirts of Moscow, Crocus Expo, and has since developed a luxury housing development. He has partnered with Robert De Niro in Nobu Matsuhisa's two Moscow restaurants.

In 2012, the built a new campus for the Far Eastern Federal University outside Vladivostok. Agalarov says he had to buy a larger Gulfstream jet to visit the site, where he spent $100 million of his own money on cost overruns on the $1.2 billion campus of 70 new buildings on Russky Island overlooking the Pacific Ocean. He then won projects for a Moscow superhighway and two stadiums for the 2018 FIFA World Cup.

In January 2013, Agalarov and his son visited Las Vegas, Nevada, after Donald Trump, the beauty pageant's owner, announced at Miss Universe 2012 that the next competition would be hosted by Agalarov in Moscow. He paid Trump $20 million to host the pageant.

Herman Gref, who runs Sberbank of Russia, Agalarov and his son hosted a dinner for Trump on the night of the pageant. While in Moscow, Phil Ruffin, who is a partner in Trump International Hotel Las Vegas, and Trump met with the Agalarov and his son at the Ritz-Carlton. Trump then appeared in a music video with Agalarov's son alongside many of the contestants. Trump and Agalarov planned on a $3 billion project, with state-owned Sberbank agreeing to provide 70% of the financing.

Agalarov has served as a liaison between Trump and Putin. According to an interview, they once discussed the construction of a Trump Tower in Russia. Agalarov had also reportedly tried to set up a meeting between the two, but this was canceled due to Putin having to meet the Dutch royal couple at the time. Putin instead sent Trump a fedoskino miniature.

In 2014, Kyrgyzstan signed a treaty with Russia that named Crocus Group as the single supplier of services to integrate into the Eurasian Economic Union, avoiding competitive bidding on the $127 million deal.

Agalarov's son, Emin, helped arrange Russian lawyer Natalia Veselnitskaya's meeting with Donald Trump Jr., Jared Kushner and Paul Manafort in Trump Tower on 9 June 2016. Following the meeting, Agalarov wired $1.2 million to a bank in New Jersey controlled by Emin, a transfer which is being investigated by American law enforcement.

Emin said that after Trump won the United States presidential election in 2016, Trump sent them a handwritten note, saying he does not forget his friends.

As of June 2017, he had an estimated net worth of US$1.91 billion, most of which is derived from his real estate ventures. In January 2017, Forbes listed him as the 51st richest Russian.

Personal life

Agalarov is married to Irina Agalarova and has two children. His son Emin Agalarov is a businessman and singer-songwriter. Emin was married to Leyla Aliyeva, the daughter of the current President of Azerbaijan, Ilham Aliyev, until they divorced in May 2015. Agalarov has twin grandsons from his son's marriage. In July 2017, Agalarov put his mansion in Alpine, New Jersey up for sale for $7 million. The mansion eventually sold in November 2017 for $5.8 million.

References

References

1. (2011-04-15). "Агаларов Араз Искендер оглы".
2. (12 July 2017). "The would-be president and the oligarch".
3. (12 July 2017). "The would-be president and the oligarch".
4. (27 June 2018). "Manafort had $10 million loan from Russian oligarch: court filing".
5. (17 July 2017). "A Developer and Kremlin Fixer With a Web of Trump Contacts". [[The New York Times]].
6. "Агаларов Арас - биография, личная жизнь, карьера".
7. (2020-01-02). "Миллиардер раскритиковал низкие пенсии и зарплаты россиян". РИА Новости.
8. "Forbes profile: Aras Agalarov". [[Forbes]].
9. (11 July 2017). "How a Pageant Led to a Trump Son's Meeting With a Russian Lawyer". [[The New York Times]].
10. (2018). "The Road to Unfreedom: Russia, Europe, America". The Bodley Head.
11. (17 June 2016). "Inside Trump's financial ties to Russia and his unusual flattery of Vladimir Putin". [[The Washington Post]].
12. (21 December 2016). "The Day Trump Came to Moscow: Oligarchs, Miss Universe and Nobu".
13. (21 March 2017). "Interactief: zo lopen de lijnen van Trump naar Poetin".
14. (10 July 2017). "Trump Jr. Was Told in Email of Russian Effort to Aid Campaign". [[The New York Times]].
15. Erickson, Amanda. "Natalia Veselnitskaya, the lawyer who met with Donald Trump Jr., defends herself".
16. (September 12, 2018). "A Series Of Suspicious Money Transfers Followed The Trump Tower Meeting". [[BuzzFeed News]].
17. "Араз Агаларов". [[Forbes]].
18. Harding, Luke. (2018-12-21). "Azerbaijan leader's daughters tried to buy £60m London home with offshore funds".
19. (12 July 2017). "Russian Oligarch With Ties to Trump Meeting Is Selling New Jersey Mansion".