Forbes Kazakhstan names Nurlan Smagulov ‘Businessman of the Year’

Photo: Astana-motors.kz, photo editor: Serikzhan Kovlanbayev

Forbes Kazakhstan named millionaire Nurlan Smagulov «Businessman of the Year.» According to the outlet, he does not plan to leave his entire inheritance to his children.

«Our family does not want to leave large sums of money to the children — that is not always a blessing. It is more important for us to leave institutions, something that will continue to function after we are gone,» Forbes Kazakhstan cited the businessman as saying. 

Smagulov ranks eighth among the richest people in Kazakhstan, with an estimated net worth of $990 million. He owns Astana Group — a dealership network and vehicle manufacturer, Astana Motors; the MEGA shopping mall chain, including MEGA Alma-Ata, MEGA Park in Almaty and MEGA Silk Way in Astana; and the MyCar ecosystem for vehicle retail, which includes a chain of autocenters.

In 2025, Smagulov established the Almaty Museum of Arts, which required roughly $115.4 million in investment. Later that year, the multibrand Astana Motors Manufacturing Kazakhstan plant was launched in Almaty, producing vehicles from popular Chinese brands. The total investment in the project amounted to approximately $422 million.