Oleksandr Mashrabov obtains Kazakh passport and begins process to renounce Russian citizenship

Billionaire receives new passport by decree of the President of Kazakhstan

Russian businessman Oleksandr Mashrabov, who was born in Chelyabinsk, has officially acquired Kazakh citizenship. The document was handed to him personally, pursuant to a decree by the President of the Republic, Kassym-Jomart Tokayev. Meanwhile, the entrepreneur has already initiated the administrative procedure to renounce his Russian Federation citizenship, although his Russian passport remains valid for now.

Financial metrics and business valuation

Mashrabov is a co-founder of the technology company Higgsfield, which specialises in generating video content using artificial intelligence tools. According to 2026 estimates, the total value of this business reaches $5.4 billion. Mashrabov’s stake accounts for approximately 20% of the total capital, making his personal assets in this structure worth over $1 billion. The publication Forbes had planned to include the entrepreneur in its ranking of the wealthiest citizens of Russia.

Career path and previous deals

Before founding Higgsfield, Oleksandr Mashrabov worked at the company Yandex. His first artificial intelligence startup was sold to the American company Snap for $166 million. Currently, the businessman mostly resides outside Russian territory.

Trend among Russian billionaires

Mashrabov’s move is not an isolated case. He has joined a group of major Russian entrepreneurs who have decided to renounce their Russian citizenship. Previously, similar decisions were made by Oleg Tinkov, Arkady Volozh, and Yuri Milner.