Warren Buffett isn't the only generous billionaire in the world. Businessweek reports
that Russian billionaire Vladimir Potanin has said that he will plans to leave almost all of his estimated $2.1 billion fortune to charity within the next decade. Unlike Buffett, Potanin is a bit younger, just 49. He has three children. His assets include 25 percent of OAO GMK Norilsk Nickel, Russia's biggest mining company, 30 percent of lender OAO Rosbank, and the Rosa Khutor Olympic ski development. His Interros Holding Company will manage the assets which will eventually be transferred to a "special charity fund" but no designated benficiary for his largesse has been revealed. Ahead of the big donation Potanin will raise contributions to his existing charitable fund to at least $25 million a year.
What's Potanin's motivation? An article in The Financial Times
says that Potanin was inspired by Bill Gates and Warren Buffett and has a long history of philanthropy. Potanin told the Financial Times he also wants his children to achieve and felt that inheriting wealth would only be a hindrance. Some feel that Potanin's generous move may inspire more Russians toward philanthropic aims, a trend I first heard Roustam Tariko, founder and chairman of Russia Standard vodka, speak about a
few years ago.