Aras Agalarov: Architect of Influence
An in-depth exploration of the Azerbaijani-Russian billionaire, real estate magnate, and his global connections.
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Profile Overview
Financial Standing
Aras Agalarov is a prominent Azerbaijani-Russian billionaire, recognized for his extensive real estate development ventures. In 2015, Forbes ranked him as the 51st wealthiest Russian, and he has been described by various sources as a Russian oligarch.
Origins and Citizenship
Born on November 8, 1955, in Baku, Azerbaijani SSR, Soviet Union, Agalarov holds both Azerbaijani and Russian citizenship. His early education was at the Azerbaijan Polytechnical Institute.
Professional Focus
Primarily known as a businessman and developer, Agalarov's career is deeply rooted in property development, significantly shaping Moscow's commercial and residential landscape.
Family Ties
He is married to Irina Agalarova and is the father of two children, including Emin Agalarov, who is also a notable businessman and musician.
Early Life and Education
Academic Foundation
Agalarov pursued his higher education at the Azerbaijan Polytechnical Institute, where he specialized in computer engineering. During his time there, he was an active member of the Communist Party of Azerbaijan and the Baku City Committee, reflecting the political landscape of the Soviet Union at the time.
Real Estate and Business Ventures
Retail Beginnings
Agalarov's entrepreneurial journey began with the establishment of the first Crocus Inter store, which evolved into a significant retail business featuring malls that offered a wide array of housewares. This initial success laid the groundwork for his expansion into larger-scale property development.
Moscow's Landmarks
He is credited with developing some of Moscow's most recognizable commercial structures. This includes the Crocus City Mall, recognized as the largest shopping center in Moscow, and the adjacent Crocus Expo, which stands as Russia's largest trade center. His portfolio also extends to luxury housing developments.
Strategic Partnerships
Demonstrating a capacity for high-profile collaborations, Agalarov partnered with renowned figures such as Robert De Niro to bring Nobu Matsuhisa's acclaimed restaurants to Moscow, further enhancing the city's luxury hospitality scene.
Major Infrastructure Projects
In 2012, Agalarov's Crocus Group undertook the ambitious project of constructing a new campus for the Far Eastern Federal University near Vladivostok. This massive undertaking involved the development of 70 new buildings on Russky Island, representing a significant investment and contribution to educational infrastructure.
Sporting Venues
Further diversifying his development portfolio, Agalarov secured projects for a Moscow superhighway and was involved in the construction of two stadiums designated for the 2018 FIFA World Cup, underscoring his role in major national infrastructure initiatives.
Personal Life and Family
Marital and Familial Connections
Aras Agalarov is married to Irina Agalarova. They have two children. His son, Emin Agalarov, is a prominent figure in his own right, known as both a businessman and a singer-songwriter. Emin was previously married to Leyla Aliyeva, the daughter of Ilham Aliyev, the current President of Azerbaijan. This union resulted in twin grandsons for Aras Agalarov.
Real Estate Holdings
In July 2017, Agalarov listed his mansion in Alpine, New Jersey, for sale, initially seeking $7 million. The property was eventually sold in November 2017 for $5.8 million, reflecting his significant international property investments.
Global Connections and Influence
Hosting Miss Universe
Agalarov gained international attention when he hosted the Miss Universe 2013 pageant at his Crocus City Hall. This event involved significant financial arrangements, including paying Donald Trump $20 million to host the competition. His son, Emin, performed during the event, and his wife served as a judge.
Ties with Donald Trump
Agalarov has been described as a liaison between Donald Trump and Vladimir Putin. Reports indicate discussions about potential Trump Tower projects in Russia, and Agalarov reportedly attempted to arrange a meeting between Trump and Putin. Following Trump's election victory, a note from Trump was received by Agalarov expressing gratitude for their friendship.
The Trump Tower Meeting
In a significant event related to the 2016 US presidential election, Agalarov's son, Emin, helped facilitate a meeting between Donald Trump Jr., Jared Kushner, Paul Manafort, and Russian lawyer Natalia Veselnitskaya at Trump Tower on June 9, 2016. Following this meeting, $1.2 million was wired to a New Jersey bank controlled by Emin, a transaction that has drawn scrutiny from law enforcement.
Eurasian Economic Union Integration
In 2014, Agalarov's Crocus Group was designated as the sole service supplier for integrating Kyrgyzstan into the Eurasian Economic Union. This $127 million deal was awarded without competitive bidding, highlighting his influential position in regional economic integration efforts.
Accolades and Recognition
State Honors
Agalarov's contributions have been recognized with prestigious state honors. In November 2013, Russian President Vladimir Putin awarded him the Order of Honour. He also received the Order of Merit of the Italian Republic, being appointed a Commander of the order.
Forbes Recognition
His significant wealth and business acumen have consistently placed him on international financial lists. Forbes has recognized him multiple times, including ranking him as the 51st richest Russian in 2015, underscoring his substantial economic influence.
Voice of Influence
Recorded Interview
Listen to a segment of Aras Agalarov's voice from his appearance on the Echo of Moscow program, recorded on November 4, 2013. This provides a direct auditory connection to his public presence.
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