Shukhrat Ibragimov, the Kazakh oligarch, has bought a new Dassault Falcon 8X private jet to celebrate a spate of recent corporate acquisitions, including a new coal mine.
The aircraft was registered at the end of June and has the tail number OO-FOI. It has already made over 30 trips and was recently spotted in Madrid.
The new Falcon 8X has been substantially upgraded and is estimated to have price tag of about $70 million. Ibragimov owns the jet via an Anguillan company called Infield Ltd., which also owned the oligarch’s previous Falcon 8X.
The old aircraft, which had the registration number OO-FAI, is currently on sale for $46 million.
Shukhrat Ibragimov has been on a spending spree recently after inheriting a fortune from his father, Alijan Ibragimov, one of the founders of a Kazakh mining company called Eurasian Resources Group (ERG).
In September 2024, Ibragmimov partnered with the controversial Kazakh oligarch Kenes Rakishev to acquire the Shubarkol Premium coal mine from Timur Kulibayev.
Shubarkol Premium, located in Karaganda, produces more than three million tonnes of coal a year, with most of its production being shipped to China.
This is the second deal Shukhrat Ibragimov has done with Rakishev. Last year, Ibragimov invested $23 million in a Rakishev-venture called Borealis Foods, which makes Ramen noodles.
However, that deal appears to be turning sour quickly with Borealis reporting huge loses and warning that it might struggle to remain a going concern.
Rakishev has courted controversy with his links to Hunter Biden, son of US President Biden, and Ramzan Kadyrov, the tyrant leader of the Chechen Republic.
Another of Ibragimov’s controversial business partners is Musa Bazhaev, a sanctioned Russian oligarch. Last year, Shukhrat Ibragimov bought the Forte Village hotel resort from Bazhaev in a deal that has raised concerns about possible sanctions evasion.
In return for taking control of Forte Village, Ibragimov gave Bazhaev a stake in a gold mine in Kyrgyzstan.
Shukhrat Ibragimov has also consolidated his power at ERG, the mining company co-founded by his father. Shukhrat was appointed chairman of ERG in June 2024 – around the same time that he was shopping for the new Falcon 8X private jet.
