Russia's second most richest man Mikhail Fridman to leave all his fortune to charity.

 

Russian Billionaire Mikhail Fridman, with a net worth of $13.3 billion according to Forbes, is set to transfer all his wealth to charity leaving his children out of his will. Fridman said he wants his children to create
something of their own. According to Fridman when responding to a question from the audience at the Forbes club:

"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,”

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.

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, to become a focus of people with bad intentions.

The tycoon added that the same decision was made by his business partners. Fridman has four children. The youngest is 10 years old, 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, 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 Letter One investment holding.

Source: RT. com