---
title: Chess Federations Elect Kazakh Billionaire Timur Turlov FIDE President in a Runoff
description: Timur Turlov beat Wadim Rosenstein 110-85 in a FIDE runoff in Samarkand, with Viswanathan Anand as deputy, ending Arkady Dvorkovich's eight-year era.
author: Darie Nani (Editor-in-Chief)
date: 2026-09-27T13:04:24.837Z
updated: 2026-09-27T13:04:24.851Z
canonical: https://www.richmanmagazine.com/article/fide-president-timur-turlov-samarkand-runoff
image: https://cdn.nanimediahouse.com/timur-turlov-fide-president-355327.webp
categories: Sport
content_type: News
region: Global
publication: Rich Man Magazine
schema_type: Article
---

Timur Turlov, the 38-year-old financier who heads the Kazakhstan Chess Federation, is the new president of FIDE. Delegates from 196 national federations [elected him on Sept. 26](https://www.fide.com/timur-turlov-elected-president-of-fide/) at the FIDE General Assembly in Samarkand, Uzbekistan, held alongside the 46th Chess Olympiad. He beat German entrepreneur Wadim Rosenstein 110-85 in a second round of voting, and five-time world champion Viswanathan Anand was elected with him as deputy president. The term runs through 2030.

Turlov is the chief executive of Freedom Holding Corp., a NASDAQ-listed financial services group with a market value of nearly $11 billion, according to FIDE. Chess.com estimates his personal net worth at $7.4 billion. FIDE says he is the eighth president in its history and the second youngest ever elected. Chess.com reported that he is the first non-Russian citizen elected FIDE president in more than 30 years: Russians have led the federation since 1995, when Kirsan Ilyumzhinov took over from Florencio Campomanes of the Philippines.

## Dvorkovich Suspended Himself in July After the EU Sanctioned Him

Arkady Dvorkovich, Russia's deputy prime minister from 2012 to 2018, won the FIDE presidency in 2018 and again in 2022. In 2023 delegates voted to abolish the two-term limit, which cleared the way for him to seek a third term, and Turlov was originally due to run as his deputy.

On July 23 the EU added Dvorkovich to its 21st sanctions list. The EU says he publicly supported the annexation of Crimea and called occupied Ukrainian cities Russia's "new territories". In a [statement published by FIDE](https://www.fide.com/statement-by-the-fide-president/), Dvorkovich wrote: "I want to state unequivocally that I consider this decision unlawful and unfair". He said he would "voluntarily suspend the exercise of my powers and duties as FIDE President with immediate effect", and Anand, deputy president since 2022, became interim president. Dvorkovich told the BBC that he had not resigned and that accusations of "Russian influence" were false.

Turlov then moved to the top of the ticket, with Anand as his running mate, and Dvorkovich publicly backed him. "This was not originally my plan," Turlov told the British Chess Magazine in August. "My original ambition was to help FIDE with digital transformation."

Chess.com describes Turlov as Russian-born and as one of FIDE's most important financial backers. Turlov says he severed his interests in Russia and renounced his Russian citizenship in 2023. According to FIDE, Freedom Holding has put about $30 million into chess development in Kazakhstan over three years and has supported more than 20 major international FIDE tournaments.

## Buettner and Pein Backed Turlov After Finishing Third

Rosenstein, born in 1990, founded WR Chess and chairs WR Group Holding, and ran with Chinese businessman Gordon Tang. Jan Henric Buettner, born in 1964, helped establish AOL Europe and co-founded Freestyle Chess with Magnus Carlsen. His running mate was International Master Malcolm Pein.

Each federation casts one vote, so India, the US and China count for no more than the smallest members. In the first round four of the 196 ballots were declared invalid, Chess.com reported, and Turlov took 96 of the 192 valid votes, one short of a majority. Rosenstein had 76 and Buettner 20. Buettner and Pein were eliminated and endorsed Turlov, and two hours later he won the second round 110-85, with one abstention.

Pein told EU Reporter after the vote that the strength of their programme and candidacy "enabled us, in the end, to hold the balance of power". "And I've just exercised that power in a way I'm exceedingly happy with," he said. The commitments they secured in return for their support, Pein said, included a new FIDE commission, "or you might call it tribunal, specifically and only to look into allegations of sexual harassment and abuse", and limits on how many people from any one country can hold positions in FIDE. Pein said reducing Russian influence over FIDE was one of his main aims. "The centre of gravity of FIDE has to move out of Russia," he said.

In a joint statement, Buettner and Pein said the decision of FIDE's member federations "deserves our full respect". Rosenstein wrote on X that "the results have been acknowledged".

> "I look forward to moving chess forward and giving the game the spotlight it deserves."
> — Timur Turlov, FIDE President

## Turlov Has Pledged More Than $8.5 Million to FIDE and an External Audit of Its Books

"The biggest dream we're all working toward is getting closer to the Olympic program," Turlov said in a statement issued by his campaign after the vote. "My goal is for FIDE to become more professional and more modern, more digital, raising its standing and influence, and finding its place in today's world."

His campaign says he has pledged more than $8.5 million toward FIDE's development. Part of that goes into a multi-year fund kept separate from FIDE's operating budget, which he says will double the money available to national federations and make grants easier to get. He has also promised dedicated FIDE staff to help national federations find sponsors.

On governance, Turlov has committed to publishing FIDE's financial statements and major commercial agreements regularly, bringing in an independent external audit, making appointments on merit and putting experts from every continent on FIDE's commissions. For players, he plans a single FIDE platform where each player has one profile covering ratings, online play and education tools. He has also proposed stronger anti-cheating measures, including facial recognition and AI-powered detection.

In his acceptance speech, Chess.com reported, Turlov told delegates: "Every member federation, every person... will be treated equally well." In remarks published by FIDE, he said federations should become "stronger and more independent", and added: "We are all one family, and we will continue working as one."

## FAQ

**Q: Who is Timur Turlov?**
Turlov, born on Nov. 13, 1987, is the chief executive of Freedom Holding Corp., a NASDAQ-listed financial services group. He has been president of the Kazakhstan Chess Federation since January 2023 and is the founding president of the International School Chess Federation, set up with FIDE in September 2024. He also chairs the Turkic Chess Association, which brings together the chess federations of Azerbaijan, Kazakhstan, Kyrgyzstan, Turkmenistan, Türkiye and Uzbekistan.

**Q: What did Jan Henric Buettner propose for FIDE?**
Buettner ran as a reform candidate. He argued that FIDE's national federations should be treated as the organization's owners rather than its clients, and promised to hand 20 percent of FIDE revenue, excluding prize funds, to the federations.

**Q: What chess events does Wadim Rosenstein run?**
Rosenstein founded WR Chess, which stages the WR Chess Masters in Düsseldorf and London. He helped set up the World Rapid and Blitz Team Championship, now a fixture on the FIDE calendar, and launched the WR Women's Chess Tour, a series of four elite tournaments for women. He is also the German Chess Federation's delegate to FIDE.