Russia’s 2nd Richest Man, Mikhail To Give All His Wealth To Charity

Posted by: lukwago J in World news May 24, 2016

Billionaire Mikhail Fridman,^[⁴^] whose net worth is $13.3 billion according to Forbes, is to leave his children out of his will. The businessman said he wants his children to create something on their own.^[⁹^]

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“I’m not a big fan of such public statements, but I can say that I am going to transfer all my money to charity. I don’t plan to transfer any money to my children,” Fridman said,^[²^] responding to a question from the audience at the Forbes club.

He says giving a young person large amounts of money risks ruining his life. He also doesn’t want his children to participate in his Alfa Group business.^[⁷^]

Mikhail Fridman said he wants his children to follow his footsteps and create something of their own

.

Another reason for that is that he doesn’t want his elder daughter Laura, who is now 22,^[¹^] to become a focus of people with bad intentions.

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The tycoon added that the same decision was made by his business partners.^[⁵^] Mikhail Fridman has four children. The youngest is 10 years old,^[³^] the eldest is 22. In 2016, Forbes Russia estimated Fridman’s wealth at $13.3 billion; he is ranked second among the richest Russians.

He is the principal owner of Alfa Group,^[⁶^] which includes Russia’s largest private commercial bank Alfa Bank, X5 Retail Group that has a chain of supermarkets in Russia, A1 TV Channel and the LetterOne investment holding.^[⁸^]

Source: RT

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