Russian billionaire Mikhail Fridman drops bombshell, says he will leave all his fortune to charity.

Russian 2nd richest man Mikhail Fridman, whose net worth is $13.3 billion according to Forbes, has declared that he will not transfer any money to his children. The businessman said he wants his children to create something on their own.

He said:

    "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, responding to a question from the audience at the Forbes club.

Fridman said he wants his children to follow his footsteps and create something of their own. He also doesn’t want his children to participate in his Alfa Group business.


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 LetterOne investment holding.