Net Worth Ranker
What Is Ilham Aliyev Net Worth
Estimating the precise net worth of Ilham Aliyev, the President of Azerbaijan, is challenging due to the opaque nature of wealth and assets held by political leaders in certain regions. As of April 11, 2025, various sources provide differing estimations. Some sources estimate his net worth to be around $500 million, while others suggest it could be as high as $900 million. These estimations often consider not only his official salary but also the wealth accumulated by his family, potentially through their involvement in various businesses and resources within Azerbaijan.
Early Life and Career
Ilham Aliyev was born in Baku, Azerbaijan SSR. He received his education at the Moscow State University of International Relations, graduating and later earning a Master’s degree before completing a Ph.D. in History. In 1994, he took on the role of Vice-President of the State Oil Company of Azerbaijan (SOCAR). During his tenure, Azerbaijan’s oil wealth significantly increased. This position gave him substantial influence over Azerbaijan’s most valuable resource. Subsequently, he was elected to the National Assembly of Azerbaijan, became President of the National Olympic Committee, and headed the Azerbaijan delegation to the Council of Europe. In August 2003, he was appointed Prime Minister.
Ascension to Presidency and Governance
In 2003, Ilham Aliyev’s father, Heydar Aliyev, who was then the President of Azerbaijan, stepped down due to health concerns and designated his son as his successor. Ilham Aliyev then won the presidential election in 2003, amidst widespread protests and allegations of voter fraud. International organizations and watchdogs have often criticized his governance. Azerbaijan has consistently ranked low on Transparency International’s Corruption Perceptions Index. For example, in 2024, Azerbaijan scored 22 out of 100, indicating a high level of perceived corruption. This score is lower than its neighbors like Georgia (53) and Armenia (47) and on par with Russia (22). Concerns about corruption in Azerbaijan are prevalent in sectors such as education, healthcare, and business. Bribery, nepotism, and cronyism are reportedly commonplace.
Salary and Family Wealth
Ilham Aliyev’s official presidential salary is reported to be $230,000 per year. However, it’s the Aliyev family’s assets that draw significant attention. Allegations suggest the family has profited immensely from their control over Azerbaijan’s oil resources and other business ventures. Reports indicate that Aliyev’s son owns nine luxury mansions in Dubai, estimated to be worth $45 million. His daughters are said to possess an additional $30 million worth of real estate in Dubai. These properties were reportedly acquired when his son was just 12 years old. In 2010, Heydar Aliyev, Ilham’s son, purportedly purchased nine waterfront mansions in Dubai for $44 million, which is equivalent to approximately $63 million in 2025. It would take an average Azerbaijani citizen 10,000 years to accumulate this much wealth.
Business Interests and Assets
Azerbaijani law restricts public officials from owning private businesses, but these restrictions do not extend to their children or spouses. Ilham Aliyev’s daughter, Arzu, who is a television personality and model, is said to own millions of dollars in company shares and other assets such as Silk Way Bank and SW Holding. SW Holding encompasses numerous companies, including the state airline and the state’s official contractor. The Aliyev family reportedly owns significant shares in major Azerbaijani banks, construction firms, and telecommunications companies, and has partial ownership of the country’s oil and gas industries. Much of this wealth is allegedly hidden through a network of offshore companies. The Organized Crime and Corruption Reporting Project (OCCRP) named Ilham Aliyev as the “Person of the Year” in organized crime and corruption in 2012. The Aliyev family has been accused of using corrupt practices to silence critics, including journalists, activists, and opposition figures. In 2023, economist and anti-corruption activist Gubad Ibadoghlu was arrested on charges that he and others claim were retaliation for exposing high-level corruption in Azerbaijan.
Controversies and Allegations
The Aliyev family’s wealth has been the subject of numerous investigations and reports. The Pandora Papers leaks in 2021 revealed that the family had built an extensive offshore network to conceal their wealth. These leaks showed their involvement in property deals in the UK worth more than £400 million. In 2017, it was revealed that Aliyev and his family were involved in the Azerbaijani laundromat, a complex money-laundering scheme used to pay off European politicians and promote a positive image of his regime. The Aliyevs have been linked to at least 26 offshore organizations. Leyla and Arzu Aliyeva are reported to own Pasha Holding, which includes banking, construction, and insurance companies, as well as Ata Holding, Pasha Bank, Atabank, Xalqbank, Bank Silkway, Kapital Bank, Azenco, and Azerbaijan Global Investments construction companies, with assets exceeding $5 billion. Allegations also include that the Aliyev family owns 11 private houses on the famous Palma Island in Dubai, valued at $75 million, according to the American “Washington Post”.
Real Estate Holdings
The Aliyev family’s real estate holdings extend across various countries, including the UK, Dubai, and Russia. In London, they are reported to own dozens of properties worth approximately $700 million combined. Some of these properties are owned by Aliyev’s children. For instance, Leyla Aliyeva is said to own a company that holds a large London office building. In 2009, the president’s then 11-year-old son, Heydar Aliyev, acquired an entire block of office buildings in London’s Mayfair area for $45 million. The Aliyevs bought another building in London for $47 million in 2008 and sold it in 2018 for $89 million, realizing a profit of $42 million. At 19 years old, Arzu Aliyeva held shares in an offshore company with a Swiss bank account that acquired three apartments worth £5.1 million ($9.7 million) in the Knightsbridge district. Members of the Aliyev family owned five companies used to buy more than $120 million worth of high-end London properties between 2006 and 2009, many of which were later sold for vast profits.
Corruption Allegations and Indices
Azerbaijan’s ranking in corruption perception indices reflects ongoing concerns about transparency and accountability. Corruption is considered high and occurs at all levels of government. The government has been accused of using corrupt practices to silence critics. Azerbaijan’s anti-corruption legislative framework is considered strong (89 out of 100), but its implementation is very weak (38 out of 100). The police sector carries a very high corruption risk, with bribery and extortion being common practices. The tax administration is also prone to corruption, with frequent exchanges of bribes and irregular payments when meeting with tax officials. Trading across Azerbaijani borders is affected by corruption and bribery, with irregular payments being widespread when importing and exporting.
