Freedom Holding’s Investments in Sports Elevate Kazakhstan’s Global Standing
Freedom Holding Corp., led by Timur Turlov, has made significant investments in chess and football, positioning the company as a key player in promoting Kazakhstan’s global image. With over 40 billion tenge ($84 million) allocated to charitable and sponsorship activities in 2024, the holding’s contributions reflect its vision for integrating sports into its corporate and national development strategies.
Investing in Chess: Building a Global Ecosystem
A major highlight of Freedom Holding’s involvement is its 4.5 billion tenge ($9.4 million) support for the Kazakhstan Chess Federation (KCF), which Timur Turlov has presided over since January 2023. This funding has fueled transformative changes, including an increase in chess tournaments, training programs, and the attraction of grandmasters and top trainers. KCF underwent a rebranding in 2023. It also launched initiatives such as a proposed International School Chess Federation, designed to integrate with FIDE’s global framework.
Freedom Holding’s sponsorship extended to marquee events like the World Rapid and Blitz Championships, held in New York on Wall Street in December 2024. The tournament showcased the world’s best players, including Magnus Carlsen and Ian Nepomniachtchi, and offered a $3 million prize pool.
The company’s chess sponsorships also align with Kazakhstan’s national chess development plan, which aims to introduce the game to 20% of elementary school students by 2027 and establish the country as a top-10 global chess powerhouse.
Chess as a Soft Power Strategy
Freedom Holding’s strategic investments in chess extend beyond philanthropy, establishing the company as a significant player on the global stage. “Partnering with FIDE allows Freedom Holding Corp. to enhance its brand recognition across Asia, Europe, and the U.S. among chess enthusiasts,” Timur Turlov noted. He views chess as a gateway to influential networks in the financial world, citing the game’s popularity among bankers, regulators, and academics.
This calculated approach aligns with the company’s financial goals while contributing to Kazakhstan’s global cultural diplomacy. “Kazakhstan is not just about oil and gas,” Timur Turlov stated. “We have a wealth of human capital and innovation. Our success in chess demonstrates our potential to excel on the world stage.”
A Broader Vision for Development
Freedom Holding’s efforts reflect a broader mission to elevate Kazakhstan’s global reputation. The company’s support for initiatives like the Asian Junior Chess Championship and corporate chess tournaments exemplifies its commitment to fostering a culture of excellence. Moreover, Turlov Turlov sees immense untapped potential in chess, with approximately 20% of the U.S. population already engaged in the game.
“Chess is still underestimated as a sport,” Timur Turlov explained. “Its current popularity is just the beginning.”
A Strategic Gambit
Freedom Holding’s integration of chess into its corporate strategy is a masterstroke, blending philanthropy, brand-building, and soft power. With sustained investments in sports, the holding not only supports Kazakhstan’s ambitions but also reinforces its own global influence. As Timur Turlov aptly put it, “This isn’t just about tournaments. It’s about shaping the future and telling Kazakhstan’s story to the world.