Renowned American investor and co-founder of the Quantum Fund, Jim Rogers, owner of Rogers Holdings with a fortune of approximately $300 million, has completely divested himself of Russian and American assets, directing his funds into shares of Uzbek companies.
As of the end of 2025, Rogers’ investment portfolio has been replenished with securities from most issuers listed on the Tashkent Republican Stock Exchange.
According to sources in the investment community, Rogers implemented a diversification strategy, focusing on the emerging markets of Central Asia. He acquired shares in about 85 companies, covering key sectors of the Uzbek economy, from energy and mineral extraction to agriculture and financial services. The investor refused to buy the republic’s sovereign debt and did not hedge currency risks, demonstrating confidence in the long-term potential of the Uzbek economy.
This move was the culmination of Rogers’ long-standing interest in the region: since 2021, he has been actively monitoring reforms in Uzbekistan, including market liberalization and preparations for initial public offerings (IPOs).
“Uzbekistan is a country with enormous growth potential, where reforms are creating favorable conditions for investors,” Jim Rogers said in a recent interview, drawing parallels with his successful investments in Asia in the 1990s.
