Did billionaire Alisher Usmanov return to Uzbekistan, giving up his business?

Alisher Usmanov announced that he would use all his capabilities to help Uzbekistan and benefit it, for this he left the management of corporate assets and even ended his participation in many projects as a shareholder. He informed about this in an interview with journalists of the Italian TV channel "TGcom24" in Tashkent.

According to the report of the publication, Usmanov returned to his native country - Uzbekistan.

"I will use all my efforts and capabilities to help Uzbekistan and benefit it. For this purpose, I left corporate asset management and even ended my participation as a shareholder in many of my projects," – Usmanov said.

Alisher Usmanov, the founder and largest shareholder of USM holding, described the period since 2016 as "a sign of hope for a great future" while listing the structural changes in the economy of Uzbekistan in recent years.

As an example of this, the billionaire pointed to the opening of Uzbekistan for investment and the program of large-scale reforms.

It is noted that during this time USM's business structures invested in their areas, mainly in the telecommunications and IT sectors.

In addition, he stated that he intends to continue to implement work and charity projects in Uzbekistan despite the many Western sanctions in recent years.

Alisher Usmanov also expressed his displeasure with the European Union mentioning him among the oligarchs, saying that the oligarchs gain wealth with the help of power and use it to influence the government. The Uzbek billionaire said that there was no support for him and that he acquired all the assets "under market conditions".

For reference, it was announced earlier that since the beginning of 2023, the net of the founder of USM holding, Russian billionaire Alisher Usmanov, has increased by 1.06 billion dollars.