The world of chess entered a new chapter in September 2026 when the International Chess Federation, known as FIDE, elected a fresh leader at its General Assembly in Samarkand, Uzbekistan. The election took place during the 46th Chess Olympiad and drew the attention of chess fans, sports administrators, and financial communities around the world. The result was a clear signal that FIDE is ready to embrace a new kind of leadership — one rooted in entrepreneurship, global vision, and a genuine passion for the game.
Timur Turlov, the Kazakhstan-based founder and CEO of Freedom Holding Corp., won the FIDE presidential election after a two-round vote involving delegates from 196 national chess federations. His victory over German businessman Wadim Rosenstein in the runoff — 110 votes to 85 — marked the beginning of what many in the chess world are calling a transformative era for the sport. At just 38 years old, Turlov became FIDE’s eighth president and the second-youngest person ever to hold the position.
From Trader to Chess Federation President
Turlov’s journey to the top of world chess is as remarkable as it is inspiring. Born on 13 November 1987, he began his career in finance at the age of 16, working as a trader at a Moscow office of World Capital Investments. He later helped build infrastructure for access to the US stock market while working at a unit of Uniastrum Bank, and went on to earn a degree in economics and management.
In 2008, at just 21 years old, he founded Freedom Finance, a brokerage that he later expanded into Kazakhstan in 2012. The company grew steadily and was eventually consolidated under Freedom Holding Corp., which began trading on Nasdaq in October 2019 under the ticker FRHC. Today, Freedom Holding Corp. is one of the most recognized financial services companies in Central Asia and beyond.
What makes Turlov’s story unique is that his rise in chess administration happened alongside his business career, not instead of it. He did not step away from finance to pursue chess — he brought both worlds together, using his management experience and global network to make a compelling case for why he was the right person to lead FIDE.
The 2026 FIDE Election: How It Unfolded
First Round Results
The election at the General Assembly saw three candidates compete in the first round:
- Timur Turlov received 96 votes
- Wadim Rosenstein received 76 votes
- Jan Henric Buettner received 20 votes
- 4 delegates abstained from voting
Because no candidate reached the required majority in the first round, the top two candidates advanced to a runoff ballot.
Second Round Results
The runoff produced a decisive outcome. Turlov won 110 votes compared to Rosenstein’s 85, giving him a clear mandate to lead the federation. The result also brought an end to Arkady Dvorkovich’s two-term presidency, which had run from 2018 to 2026.
Viswanathan Anand Joins as Deputy President
One of the most celebrated aspects of Turlov’s winning campaign was his choice of running mate. Five-time World Chess Champion Viswanathan Anand, who had already served as FIDE Deputy President since 2022, was elected to continue in that role on Turlov’s ticket. The pairing of a visionary entrepreneur with one of the greatest chess players in history sent a powerful message about the direction FIDE intends to take.
Anand’s presence brings deep chess knowledge and global respect to the leadership team, while Turlov’s business acumen and financial resources offer the federation a strong foundation for growth and innovation.
What Turlov’s Leadership Means for Chess
Turlov’s election is significant for several reasons. Unlike many of his predecessors, he is neither a former government official nor an elite grandmaster. He is a self-made entrepreneur who built a publicly listed company from the ground up. His campaign focused on practical management, financial sustainability, and expanding chess to new audiences around the world.
Some of the key priorities expected under his leadership include:
- Expanding chess education programs in developing countries
- Increasing prize funds and financial support for professional players
- Growing the global audience for chess through digital platforms
- Strengthening partnerships between FIDE and the private sector
- Improving governance and transparency within the federation
Conclusion
The election of Timur Turlov as FIDE President marks a genuinely exciting moment for world chess. His background in finance, his proven ability to build and scale organizations, and his partnership with Viswanathan Anand create a leadership team that is both credible and forward-looking. Chess has always been a game that rewards long-term thinking and bold strategy — and with Turlov at the helm, FIDE appears ready to play its next great move on the world stage.
