ITAR-TASS. Volga Group beneficial owner Gennady Timchenko is ready to assign to the state all the assets which make up his investment group.
“As for myself, I can say clearly and certainly that, as required, I will be able to give all my assets to the state as early as tomorrow. Or for charitable purposes. If only the state benefits from this,“ he emphasized. “I and my wife discussed this many times. Personally we need no billions,” the entrepreneur concluded.
Timchenko’s assets comprise gas concern Novatek (his interest equals 23%), a 30% stake in coal miner Kolmar, Transoil (80%), Russia’s leading private railroad operator engaged in oil shipments, Sakhatrans, a transit facility in the port of Vanino, which is under construction.
The portfolio also consists of a 32.3% stake in gas and oil refiner Sibur, over 60% of Stroytransgaz shares, a 12.5% interest in insurance group Sogaz, 49.1% of German insurer Sovag, a 7.8% interest in Bank Rossiya and 50% of Hartwall Arena in Helsinki.
This year Gennady Timchenko sold his holdings in the following companies Gunvor International B. V. (43.5%), Russkoye more (30%), Avia Group LLC (70%, the owner of a business terminal in the Sheremetyevo Airport), Avia group nord LLC (74%, the owner of a business terminal in the Pulkovo Airport), Finnish air carrier Airfix Aviation Oy (99%), oil trader IPP Oil Products (50%) and Swedish timber producer and vendor Rorvik Timber (50%).
Talking of his readiness to assign his assets to the state or for charitable projects, Timchenko is skeptical about The Giving Pledge, a US charitable campaign of Bill Gates and Warren Buffett.
The campaign’s participants are billionaires who promise to give at least a half of their private fortunes for charitable purposes in the future.
“The idea engineered by the American philanthropists made quite a fuss. So far it has been unclear how particularly it will be implemented in reality. The time will tell. What I share with Potatin (Interros beneficial owner Vladimir Potatin is one of Russian participants of The Giving Pledge — editorial note) is that giving your children too much is not worthwhile. It is necessary to bring them up properly, provide with good education and later they should go their way. That’s the way things are in our family. Any talk that someone will give for charity something someday…I treat like something of a game and cunning," Gennady Timchenko explained.
