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03.02.2010
Vladimir Potanin Intends to Allocate $250 mln for Charity Programs Within 10 Years ($25 mln annually)

Earlier, Vladimir Potanin, President of Interros Holding Company, revealed his plans to hand his entire fortune to charity. The capital I have amassed and controlled should not be inherited but work for the benefit of society. Yet I have to decide on the ways of implementing this transfer of capital. In the meantime the asset management method would remain intact and in the domain of Interros company.

My children and grandchildren will be provided with a comfort living as well as opportunities for having good education and fulfilling themselves, while only protection for any other cases. This specific protection must be supportive alone children should succeed themselves and enrich their lives on their own. An inherited million allows one to get a good education, take ones time in finding a job or way in life. An inherited billion kills a person, depriving him of a meaning in life.

Mr Potanin will decide in due course on the form of the capital transfer and the beneficiary. In the meantime he intends to actively pursue his business through his investment company Interros.