Giving Pledge

Giving Pledge

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Vladimir Potanin was the first Russian entrepreneur to join 11 other philanthropists from different countries to participate in The Giving Pledge, a global initiative established by Bill Gates and Warren Buffett. Previously, only American companies took part in the campaign. The members of the initiative are entrepreneurs committed to donating large portions of their wealth to charity. 

In 2010, Vladimir Potanin announced his decision to donate funds to charity. Today he personally oversees the transactions with his assets using Interros. Part of the income is re-invested into the business, and another part goes to funding existing charity programs. This model guarantees long-term and sustainable philanthropic activities. In the future, these assets will be managed by a dedicated trust.

What is Giving Pledge?

The Giving Pledge is an international philanthropic campaign that unites 105 entrepreneurs from the U.S., Russia, Ukraine, Great Britain, Germany, Australia, India, South Africa and Malaysia. The initiative was established in June 2010 by Warren Buffett and Bill Gates, in order to encourage wealthy people to contribute a majority of their wealth to philanthropic causes. Members include: Michael R. Bloomberg, David Rockefeller, George Lucas, and others. Members of the initiative work on a wide range of charity projects in areas like education, healthcare, medical research, social services, environmental protection, and others.

Does joining the Giving Pledge come with any obligations?

The Pledge is a moral obligation and does not incur any financial or legal duties. It's a public statement by an entrepreneur that he or she is going to give at least half of their net worth to charity. The benefactor is free to choose the projects they want to support, as well as the time at which the funds will be transferred to charity.

Why is the Giving Pledge a public pledge?

The main objective of making a public pledge about giving a large part of one's net worth to charity is to create an atmosphere which would attract people's attention to philanthropy, and also to increase the donations to charitable programs. The initiative encourages open conversations about philanthropy but it is not a requirement or a call to action to raise funds for any particular programs or organizations.

What is Vladimir Potanin's goal in joining the Giving Pledge?

The main objective of making a public pledge about giving a large part of one's net worth to charity is to create an atmosphere which would attract people's attention to philanthropy, and also to increase the donations to charitable programs. The initiative encourages open conversations about philanthropy but it is not a requirement or a call to action to raise funds for any particular programs or organizations.

Will there be any changes in Vladimir Potanin's or his Foundation's charitable activities after joining the Giving Pledge?

Back in 2010, Vladimir Potanin announced his desire to give most of his net worth to charity. Being part of the Giving Pledge does not change any previous decisions regarding charitable funding, and does not incur any legal obligations. Over 90% of Vladimir's charity projects are within Russia. Since 2010, the main goal of his business was to establish a basis for developing charity programs. Part of the income is re-invested in the company, and another part goes to fund the Foundation's programs.

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