Timur Turlov, founder and largest shareholder of Freedom Holding Corp., continues to invest beyond the financial business. In late July 2026, a structure owned by the entrepreneur acquired stakes in several media assets in Kazakhstan — ranging from a business online publication to radio stations and television businesses. These new deals complement Turlov’s already established media portfolio, which includes business, educational, and lifestyle projects. At the same time, his main source of capital remains Freedom Holding Corp., an international FinTech holding company with a capitalization of approximately $9 billion, whose shares are traded on Nasdaq.
Turlov’s new acquisitions
Timur Turlov’s structure became a co‑owner of the “Kapital” publishing house, which holds the rights to the business portal Kapital.kz. The website publishes the latest news, analytical materials, and reviews on the economy, finance, business, real estate market, taxes, and politics in Kazakhstan and worldwide. Forbes Kazakhstan was the first to report on the expansion of the entrepreneur’s media portfolio. The changes in the shareholding structure were registered on July 29, 2026.
At the same time, Turlov Private Holding entered five other media market companies: Grand FM, which manages the Love Radio network in Kazakhstan; “SETA”, which develops Love Radio in Kyzylorda; “Tamasha FM”, operating under the “Radio Dacha” brand; the television and radio company “Toy Duman”; and “Yumax”, a company specializing in radio broadcasting.
Thus, Timur Turlov simultaneously strengthened his presence in several segments of the media market — business journalism, radio, and television. The existing ownership structure was preserved: Sanzhar Mustafin remains the second stakeholder in Grand FM; Tolkyn Mustafina remains a stakeholder in “Tamasha FM”; and MUSAN Group acts as a partner in the other companies.
From business media to international brands
These new deals continue the development of the entrepreneur’s private media portfolio, which has been growing over several years. In January 2026, Kursiv Media Holding was registered; it also belongs to Timur Turlov. It manages several information and analytical projects, including the business publication Kursiv, the economic media outlet The Tenge, the investment portal OnInvestment, the educational project Qalam, the production company Clover Street Production, and the research company United Research Technologies Group, which focuses on market and public opinion analysis.
The international lifestyle segment remains a separate focus area. In 2024, Turlov’s company entered into a licensing agreement with the Hong Kong media group Tatler Asia to launch Tatler Kazakhstan magazine. At the same time, the parties announced plans to develop a regional network of publications, including Tatler Türkiye, Tatler Azerbaijan, and Tatler Uzbekistan.
The educational segment of the media portfolio is represented by the Qalam platform, founded by Timur Turlov. The project publishes materials on the history of Central Asia and Eurasia in Kazakh, Russian, and English, collaborating with historians and researchers from various countries.
Collectively, these assets form one of the largest private media groups in Kazakhstan, combining business media, digital platforms, educational content, radio, television, and international publishing brands.
Core asset – Freedom Holding
Freedom Holding Corp. remains Timur Turlov’s primary asset. The Holding was founded as a brokerage company but has evolved over two decades into an international FinTech group that unites brokerage, banking, insurance, telecommunications, payment, and lifestyle businesses.
Freedom operates in 22 countries, and the company’s ecosystem includes brokerage units, bank, insurance companies, telecommunications business, e‑commerce services, ticket sales, travel platforms, and its proprietary super app, Freedom SuperApp. Timur Turlov owns 66.46% of Freedom Holding Corp.’s shares. Forbes’ global ranking estimates the businessman’s net worth at over $6 billion.
For the fiscal year ending March 31, 2026, Freedom Holding’s revenue reached a record $2.19 billion, an increase of 9% YoY. Net profit more than doubled to $153.3 million, up from $76.2 million the previous year. Total assets grew to $13.16 billion, and the Holding companies’ client base, including partner services, exceeded 14 million.
The company continues its international expansion. In 2026, Freedom completed the acquisition of Turkish Bank A.Ş., submitted an application for a banking license in France, and raised $300 million through an additional share offering to finance further growth.
Media business is just one of the areas of the entrepreneur’s private investments. Timur Turlov also owns the Freedom Mobile retail chain, the online platform Freedom Drive, the Shakhter football club, a stake in the Sary‑Arka airport in Karaganda, and several other projects. Turlov is transforming his business into a diversified investment group that combines media, education, digital services, infrastructure, and consumer assets. The new deals demonstrate that the information sector is becoming one of the independent pillars of this strategy.
