Potanin in February became the first Russian to join Gates and Buffett’s Giving Pledge initiative, committing to give away at least half of his wealth to charitable organizations and philanthropic causes. He said then that he made the decision in part to protect his children from “the burden of the extreme wealth.”
The government needs to alter its approach to big businesses to spur philanthropy, said Maria Chertok, country head of U.K-based Charities Aid Foundation, which helps non- governmental organizations find sponsors. Russia, in 2011, made individual charitable contributions tax-deductible and plans a similar measure for companies.
“It’s about politics and attitude to wealth,” Chertok said in an interview in Moscow. “Businesses have to pay for certain projects. This is all quite different from the U.S. environment and it casts a shadow on the charitable sector.”