The Ledger / Mikhail Lomtadze
Mikhail Lomtadze
◼ Origin
Mikhail (Mikheil) Lomtadze was born in Soviet Georgia; he earned an MBA from Harvard Business School (class of 2002) and rose to partner at Baring Vostok Capital Partners before co-founding Kaspi.kz in Kazakhstan in 2007 alongside Vyacheslav Kim. Under his leadership Kaspi evolved from a distressed regional bank into a Super App combining payments, e-commerce, and marketplace lending; it listed on the London Stock Exchange (2020) and Nasdaq (January 2024) at a market cap exceeding $20 billion.
◼ Self-Made Verdict — YES
Built Kaspi from a distressed regional bank using private equity expertise and no inherited capital, growing it into Kazakhstan's dominant fintech platform.
◼ Documented marks
01
Co-founder and CEO/Chairman of the Management Board of Kaspi.kz (NASDAQ: KSPI), Kazakhstan's largest payments, lending, and e-commerce platform.
02
Kaspi.kz listed on Nasdaq in January 2024; market capitalization has exceeded $20 billion.
03
In April 2026, Tencent invested in Kaspi.kz alongside Lomtadze and institutional investors, with Lomtadze participating in the co-investment round.
04
Holds significant personal equity stake in KSPI; exact current percentage not publicly disclosed at granular level.
05
Named best CEO in Kazakhstan by Forbes Kazakhstan/PricewaterhouseCoopers surveys for six consecutive years (2017–2022).
No inheritance, or primary accounts documented for this billionaire yet.
◼ List of charges
Total sentence
0–0 years
That is
0.0–0.0 life sentences
(using 78 years as one life)
These are moral charges, not legal ones. The actual legal system has not — and will not — bring them.
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