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Kenges Rakishev, one of Kazakhstan’s richest men, stepped off a plane at a Soviet-era airport and climbed into the car leading a convoy of gaming app vehicles. The cars demolished a two-lane highway, crossing the snow-covered steppe to the east. Kazakhstan at a speed of 90 miles per hour.
Mounting a shotgun, Rakishev pointed to the vast void.
“Nothing, right?” he said with a smile. But it is an exclusive opportunity. “
This opportunity lies in nickel, a key mineral used in electric cars and other blank energy technologies. Kazakhstan, a mineral-rich country in Central Asia, has a lot of nickel and Rakishev is investing tens of millions of dollars to mine it.
Rakishev, 44, is looking for his next big investment. In February, he was the instigator of the IPO of a Canadian manufacturer of plant-based instant noodles on the Nasdaq stock exchange. Before that, it was blockchain technology. And before that, it was an Israeli photo-sharing app, called Mobli, that tried to become the next Instagram.
He has ties to Kazakhstan’s ruling elite, as evidenced by his investments in the energy sector and the acquisition of a seized bank through the government. His close ties to a former Kazakh minister brought him into the orbit of Hunter Biden, the son of the US president whose business dealings were the subject of an impeachment inquiry by House Republicans.
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