How Timur Turlov Builds His Business, Family and Future

Recently, Alexander Sokolovskiy had a fascinating guest on his podcast — Timur Turlov — who shared his perspective on technology and the rapid changes happening in today’s world. The businessman also spoke about his core business principles and how his family helps him recharge. This interview offers a valuable opportunity to understand the mindset of an entrepreneur who leads Freedom Holding Corp., a company with a market capitalization of nearly $9 billion, and a man who has transformed the financial markets in Kazakhstan and Central Asia.

This article highlights key insights from Timur Turlov’s podcast interview, along with thoughts he has shared in other discussions. Below are the seven fundamental principles that guide his success in business while maintaining a balance between work and family life.

1. About business: “Never stop growing or you’ll lose your market position”
   “You have to either acquire someone or let others acquire you. That is far more beneficial than simply holding your ground. Expansion is always better than playing defense. You can’t sit still and wait for the world to change — in that scenario, you’re bound to lose,” Timur Turlov said.

   According to the Freedom Holding Corp. CEO, continuous development is not an option — it’s a necessity. Instead of focusing on a single business line, he constantly seeks new opportunities. This approach has helped his company evolve into the largest financial ecosystem in Kazakhstan.

   A prime example of this strategy is his investment in telecommunications. In 2022, he started building a new company, Freedom Telecom, from the ground up.

   “I dove deep into telecommunications. It was difficult but incredibly interesting. When you’ve been in a business for years, you can start to feel burned out by repetitive issues. But when you enter a new industry, it’s like a breath of fresh air — it pushes you to think creatively and search for non-standard solutions,” he explained.

   Today, Freedom Telecom is rapidly expanding fiber-optic infrastructure across the country, developing 5G and constructing TIER-3 data centers — all aimed at transforming Kazakhstan into a regional digital hub.

2. About Freedom Finance: “An ecosystem is built on trust, not revenue”
   “The main goal of any ecosystem is to build trust in a brand. People must believe they can count on us. Business isn’t just about numbers — it’s about relationships. If people trust you, they’ll stay with you for a long time,” Timur Turlov explained.

   Turlov founded Freedom Finance in 2008. Since then, the company has grown from a brokerage firm into a full-fledged international holding operating in 23 countries. Its ecosystem includes:

   – Freedom Bank – One of the most technologically advanced banks in Kazakhstan.
   – Freedom Pay – A e-payment system integrating finance, investment and loyalty programs.
   – Freedom Life and Freedom Insurance – Insurance companies offering digital products.
   – Tradernet – A powerful investment platform.
   – Freedom Telecom – A national telecommunications operator.

   “An ecosystem isn’t just about business. It’s an opportunity to create innovation, combine services and make people’s lives more convenient,” Timur Turlov said, emphasizing his business philosophy.

3. About motivation: “Learn how to learn — it’s a skill everyone must master”
   “Those who refuse to learn new things risk being left behind. The world is changing rapidly. You must stay adaptable, embrace change and not fear diving into unfamiliar territory,” Turlov said, commenting on what children and entrepreneurs must work on.

   This mindset has shaped his career since childhood. At 16, he started working as a trader for World Capital Investments, An American investment company in Moscow. Later, he gained experience in the stock market at Uniastrum Bank. In 2008, he founded the brokerage company that later evolved into Freedom Holding Corp.

   “I always tell my children: don’t be afraid to change. You might be one kind of person today, someone else in two years and a completely different person in three years. You need to learn to think that way,” he emphasized.

4. About wealth: “Money is a responsibility”
   “Every business is a collective effort, but if something goes wrong, the owner is responsible. Being a wealthy company simply means that many people have entrusted you with their money — you must not let them down,” Timur Turlov said.

   For him, social responsibility is an essential part of business. His contributions include:

   – Kazakhstan Chess Federation – As its head, Turlov finances chess development, organizes tournaments and supports a chess academy.
   – Environmental projects – He supports initiatives like the International Fund for Saving the Aral Sea and a network of reverse vending machines for plastic recycling.
   – Sports investments – He backs QJ League and youth football development in Kazakhstan.

   “You can make the world a better place when you have resources. It’s not a burden; it’s an opportunity,” he said.

5. About technology: “AI is the present, not the future”
   “Artificial intelligence is already changing the world. Learning how to use it is the only way to stay ahead. This is the best investment you can make right now. Those who master AI will lead their industries,” Timur Turlov emphasized.

   Freedom Holding Corp. actively uses AI for investment analysis, risk management, and in insurance and fintech. In Tradernet, neural networks are used to project stock performance and offer clients personalized solutions. In Freedom Pay and Freedom’s insurance companies, AI is assigned to the task of analyzing payment data and assessing risks.

   “We use AI everywhere we can. However, the point is not simply to implement a technology but to learn how to use it. Previously, thanks to the internet, we obtained tools to promote our business. With the help of AI, we now have instruments that only big corporations used to have. Now, the question is: who will adapt first?” Timur Turlov noted.

   He believes that entrepreneurs should waste no time and begin learning how to use AI as soon as possible; otherwise, they could find themselves left behind in a new reality. “It doesn’t matter how old you are or what you do. Learn how to use neural networks, write prompts and try various predictive models. This will make you much more effective. The world has changed and it is crucial to adapt to these changes,” the businessman highlighted.

6. About relations with clients: “A strong brand must be based on trust”
   “Trust is the most valuable currency. A brand is not just a logo or ads. It consists of hundreds of decisions you have to make every day. When clients see that you keep your promises, understand your logic, and recognize the logic behind the company’s development, they begin to trust you. Once again — a brand is not advertising; it is the everyday decisions you make,” Timur Turlov said.

   The businessman believes that a brand is the result of interactions with clients and partners, not just marketing. Freedom Holding Corp. focuses on building effective feedback and has always relied on the principle of transparency. Moreover, Turlov is personally engaged in social marketing and responds to users’ comments on social networks. He is convinced that a brand is about personal presence and candor. “People trust other people, not logos. If you fail to explain your values to your consumers on your own, the market will do that for you,” he added.

   Trust within a team is just as important as trust from clients. “What I genuinely believe in is delegation. This is a crucial skill if you want to build a business. It is impossible to build a brand on one person; it should be the work of the entire team. You can’t supervise thousands of employees, but you can create a system where workers can operate effectively on their own,” he said.

   According to Turlov, Freedom Holding Corp.’s ecosystem is strong because its pillars are long-term relationships. Customers, partners, and employees consider themselves part of the system, not just users of its services. “You either create long-term trust or your brand will remain a temporary project. I want Freedom to thrive even in 50 years and this is possible only if we do something people believe in,” he concluded.

7. About his wife and children: “My family is the key source of energy for me”
   “Family is your base, a source of balance and a place where you relax. If you don’t want to come back home, something is wrong,” Timur Turlov said.

   He has been married for 16 years, which is the same age as Freedom Finance. Together with his wife Elena, Turlov has been raising six children; they have all lived in Almaty for many years. Even though the businessman has a packed schedule, he doesn’t doubt that his family makes his company stronger. “If someone thinks that his family hinders his business, he is wrong. Family provides internal balance and the right focus. When you supervise thousands of people, dealing with children is easy,” Timur Turlov said with a smile.

   A clear division of roles is the best solution for many issues, the entrepreneur added. “When I am at work, I am the final decision-maker in most cases. However, at home, my wife is the one who makes the decisions. For instance, she decides where we go on vacation, what sports our kids play and which house we should purchase to live in. This is her area of responsibility and I trust her taste and judgment,” he said.

Turlov also believes that, just like in business, no one should avoid problems within the family because working on relationships is very important. “When you face issues in your company, you usually try to fix them. You don’t just close your company right away and run to open a new one. The same principle applies to your family. You have to invest yourself in it, seek common ground and acknowledge your mistakes. If your wife is angry at you, just say ‘I am sorry’ and you will save a lot of time,” Timur Turlov laughed.

In his everyday life, the businessman proves through both words and actions that he is a talented entrepreneur who has been developing an ecosystem, investing in new technologies, supporting social projects and maintaining a balance between business and family. Here is what Turlov advises young entrepreneurs:

“Wise people say that there is no need to educate your children because they will be like you anyway. The same applies to business. One can put a lot of effort into scaling up your company, hiring consultants and setting rules, but in the end, it will still reflect its founder. This is inevitable. This is why the most important thing is to educate yourself. When you are honest with yourself, have values and build your business consciously, you will see that your company is also honest and serious.”

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