With a total budget of 40 billion tenge ($77m) for charity and sponsorship in 2024, Freedom Holding Corp., a Nasdaq-listed US company with headquarters in Kazakhstan, has become a major player in chess and youth football.
Freedom Holding has supported Kazakhstan’s chess renaissance with a 4.5 billion tenge ($8.7m) contribution to the Kazakh Chess Federation (KCF), while also contributing to grassroots football with 1.1 billion tenge for the QJ League.
The vision of the Freedom Holding founder and CEO, Timur Turlov, is to combine intellect and strategy with community impact. Supporting chess in Kazakhstan is not just a philanthropic initiative; it is about branding and influencing the country’s image, while raising Freedom Holding’s profile globally.
“Chess is a universal language, a game that allows you to overcome boundaries and find common ground,” says Timur Turlov. “It reflects the principles of our ecosystem – coordinating different elements, building trust and anticipating moves.”
Freedom Holding’s role as an official partner of FIDE (the International Chess Federation) and its sponsorship of major tournaments – such as the Individual World Rapid and Blitz Championships in New York – has put Kazakhstan firmly on the global chess map. These events have also enhanced the company’s image among high-profile chess-playing financiers, academics and world leaders.
The company’s sponsorship of the Wall Street Gambit Chess and Financial Conference, held alongside the Individual World Rapid and Blitz Championships, highlighted the synergy between chess and finance. The event brought together chess-loving financiers like hedge fund founder Boaz Weinstein and economist Kenneth Rogoff, who spoke about the parallels between strategic decision-making in chess and investing. This association with intellectual excellence amplifies Freedom Holding’s standing in the financial world and beyond.
Kazakhstan is already on its way to becoming a global chess powerhouse. The country’s rising stars such as Kazybek Nogerbek, the U20 World Champion, and Bibisara Assaubaeva, who regularly competes at the highest level, are a clear sign that Kazakh players are shining. The Kazakh Chess Federation hosts major tournaments, including the Asian Junior Championships and the Team Rapid and Blitz Championships. With the support of Freedom Holding and Turlov, the KCF has strengthened its national team, expanded its chess programs, and attracted grandmasters, top-class coaches, and young talent from across the country.
Freedom Holding’s support of chess is aligned with Kazakhstan’s 2023 Comprehensive Chess Development Plan. The plan aims to integrate chess into the curriculum for grades 1-4 in 1,400 schools across the country, open 200 new chess clubs and establish community-based chess centers to ensure accessibility to the game. Chess helps students develop critical thinking and problem-solving skills, and with Freedom Holding’s support, it will reach millions of young learners.
Freedom Holding’s investment in youth football complements its chess initiatives. Through a 1.1 billion tenge ($2.1m) contribution to the QJ League, the company is supporting the development of grassroots football across Kazakhstan. The league invites teams from all regions and funds championships, player development and coach training.
“Our private money supports a nationwide system of youth competitions,” says Timur Turlov, reflecting his long-term commitment to the sport.
By investing in charitable initiatives such as chess and youth sports, Freedom Holding is creating a legacy that combines community impact with global recognition. It is not only transforming Kazakhstan’s sporting landscape, but also promoting the country as a hub for innovation and talent. With a strategic focus on both intellect and grassroots development, Freedom Holding is proving that some games are worth playing — not just for the wins, but for the future they create.
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