Billionaire Kerimov to Put Proceeds From Fortune Into Charity

Russian billionaire Suleiman Kerimov, whose biggest assets include stakes in Polyus Gold International Ltd (PLZLY) and OAO Uralkali, will put profits from his fortune into a charitable foundation.

The Suleyman Kerimov Foundation will take all the profit from Kerimov’s companies, including dividends, Alexey Krasovskiy, Kerimov’s aide, said by phone today.

Kerimov transfered all his assets to trusts and quit management as is required by the Russian law when he became a senator in the Federation Council in 2007, Krasovskiy said. Giving profits to a charitable foundation is the next step, he said. Kerimov is ranked Russia’s 20th-richest person by Forbes with a $7.1 billion fortune.

The Suleyman Kerimov Foundation is registered in Switzerland, according to Interfax. It supports culture, education and medicine, the newswire said.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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