Aras Agalarov

Last updated on 4 May 2017

Aras Agalarov (Azerbaijani: Araz İsgəndər oğlu Ağalarov) (born 8 November 1955) is an Azerbaijani businessman, developer, public figure and author of Russia: Reflections on the Way to the Market (1998).

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Biography

Born in Baku, Agalarov was educated at the Azerbaijan Polytechnical Institute. He moved with his family to Moscow in 1998, where he co-founded Crocus International alongside his father-in-law, Iosif Yefgenevich, which specializes in trade fairs, where he still makes most of his money.

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.

Agalarov has served as a liaison between Donald Trump and Vladimir 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.

As of January 2017, he had an estimated net worth of US$1.32 billion, most of which is derived from his real estate ventures.

Personal life

Agalarov is married 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 two twin boy grandchildren from his son's marriage.

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