Alexander Abalakov was born on 29 November 1959 in the village of Zalesovo, Altai Krai, Russian SFSR, Soviet Union.

[1] In 1977, he enrolled Novosibirsk Electrotechnical Institute, from which he graduated with honors in 1982 as a certified electrical engineer with a degree in Information and Measuring Technology.

[1] In 1979, he began his career as a laboratory assistant in the research sector.

[1] In 1989, he, with the help of his companions, established and took over a cooperative, which is the ancestor of today's F1 Business Group.

[1] Before 2010, he served on the Committee for Construction, Housing and Communal Services.