Timur Turlov is one of the most famous entrepreneurs in Central Asia. Over the past 16 years, his company — Freedom Holding Corp. — has grown from a small brokerage firm into an international holding operating in 23 countries. Freedom’s ecosystem consists of a bank, brokers, insurance companies, telecom and lifestyle businesses.
In February, Freedom Holding Corp. released its financial report for Q3 of fiscal 2025 (from October to December 2024), marking strong growth across all key indicators. The company reported $655.2 million in revenue, a 57% year-on-year increase. Against the backdrop of these strong results, Freedom’s shares reached an all-time high of over $157 per share on Nasdaq, while the company’s market capitalization surpassed $9.5 billion for the first time.
Freedom’s Founder and CEO, Timur Turlov, is not just focused on business growth but also eager to share his insights. What principles does he follow to expand Freedom, and what piece of advice does he offer to those looking to build a successful company? Let’s break down his key recommendations for entrepreneurs and investors.
1. Business success depends on how fast you can adapt: don’t wait — move forward
“If you’re not ready to take risks and leave your comfort zone, you’d better not be an entrepreneur. Staying idle is the worst strategy. You either attack the market or someone will acquire you,” Timur Turlov said.
He believes that the biggest opportunities emerge during crises. For example, in 2008, when the brokerage department of the company he worked for shut down, he made a bold move and founded his own firm. Similarly, in 2022 — when the world was still facing uncertainty — he launched Freedom Telecom, building it from scratch.
“The biggest fortunes are made during uncertain times. When something collapses, someone else builds something new,” he emphasized.
His piece of advice to young entrepreneurs: Don’t be afraid to enter new markets and test new models. The world changes too fast; don’t wait for the ideal moment as it may never come.
2. Invest in technology and AI not to fall behind
“We live in a world where technological revolutions happen every three to five years. Right now, artificial intelligence (AI) is the biggest driver of change. Those who learn how to use it first will gain a major advantage,” Timur Turlov noted.
Freedom Holding Corp. has already integrated AI into its services:
- Tradernet uses AI for investment decision-making and personalized analytics.
- Freedom Bank and Freedom Pay analyze customer payment behavior and automate compliance (client verification, transaction monitoring, and risk assessment).
“My advice to entrepreneurs: Learn AI. It doesn’t require huge investments. Enroll in a course, practice writing prompts and automate at least some of your tasks. In five years, you won’t be able to do business without AI,” he stressed.
3. Money is a tool, not a goal
“If you are a company with money, it means someone entrusted you with resources. But you can lose it in the blink of an eye if you don’t use it wisely. Similarly on a personal level, money must work,” said Turlov, who was ranked 1,517th on the Forbes list in 2021 with a fortune of $2.1 billion. Today, his wealth is estimated at $6.3 billion.
How to invest, according to Timur Turlov
- Don’t let your money sit idle; invest it.
- Stocks and bonds are the foundation of long-term capital.
- Never put all your capital into one asset.
- Understand what you invest in — learn before making financial decisions.
“There are two main ways to preserve capital: stocks and bonds. If you have idle money, the best way to use it is to invest in instruments that create value,” he explained.
According to Timur Turlov, stocks must not only be popular but also belong to companies that create the infrastructure of the future. As an example, he pointed to tech giants such as Apple, Microsoft, NVIDIA, and Tesla, as well as semiconductor producers and companies in the fields of AI, cybersecurity, and renewable energy.
Bonds, especially corporate securities of large, sustainable companies, also play a crucial role in this strategy. “Concerning debt, I personally prefer securities issued by Amazon, Google and Coca-Cola. All these companies have strong businesses and good reputations in the market. You can also consider debt securities of emerging markets. However, it is important to understand your risks and balance your portfolio,” he underlined. “First of all, don’t chase easy revenue.”
Piece of advice: Learn how to manage your money. Money means nothing if it doesn’t serve development. You have to invest consciously while being fully aware of market nuances. The pursuit of easy money shouldn’t be your driver.
4. Brand is about trust, not marketing
“You can allocate millions for advertising, but if your clients do not trust you, your marketing budget will disappear for no reason. People trust people, not company logos,” the CEO of Freedom Holding Corp. said. Openness is an important pillar of the company’s activities: the organization eagerly works with feedback, improves its products and introduces AI analysis to assess user experience.
What are Timur Turlov’s key rules in business?
- Be transparent in your decisions.
- Create long-term relationships with clients.
- Remember: Trust is based on actions, not words.
- Don’t be afraid to communicate with your audience directly.
“I usually respond to users’ comments on social networks myself because it is important,” he said, noting that trust within the team is also crucial. “If your business entirely depends on you, it is not a business but a job. A real team is a group of people who are able to make decisions and move forward without your constant control. My principle is: if you want to build something big, you have to learn how to delegate your responsibilities to other people and create a system that works even when you’re not there.”
Piece of advice: A successful brand is based on trust and reputation, not marketing campaigns. If you have a strong team, your brand will have real value.
5. How to build a business? Educate yourself…your employees will follow
“There’s an old saying ‘Don’t educate your children; they will be like you anyway.’ The same rule applies to business. Companies are always a reflection of their founders. This is why the most important thing is to educate yourself,” Timur Turlov said.
He does not doubt that when an entrepreneur starts their business by hiring people rather than changing themselves, it is a big mistake.
“People work not for rules but for values. If a company has strong values, its team will share them. If you do business solely for the sake of money, your team will feel that. This is why it is important to build a corporate culture,” he underlined.
Piece of advice: Develop yourself and your business will resemble you.
6. Family and business: Can you juggle both?
“Some people say: ‘My family hinders my business.’ I don’t believe this to be true. Your family gives you balance. If everything is good at home, you will be more effective,” Turlov noted.
He has been married for 16 years, and together with his wife, Elena, raises six kids. Timur Turlov is convinced that the separation of duties is the key to harmony in family life.
“My wife is the key decision-maker at home. I don’t have a vote when it comes to where we go on vacation, for example. However, everything related to business is on me. Everyone must have their area of responsibility,” he said.
Piece of advice: Sacrificing family for business isn’t a good idea for entrepreneurs. What will make you stronger is the right balance.
Even though Timur Turlov has built a financial empire, he doesn’t consider money the ultimate goal. Constant development, technology, trust, and long-term relationships are much more important to him.
“The real success is not just to make money but to create value. Do things that are important and money will come,” the entrepreneur underlined.
Everyone who wants to develop a business in this new world, invest mindfully, and embrace change can apply Timur Turlov’s pieces of advice in their life.