Press-releases

19.02.2013

Victor Pinchuk will give half or more of his fortune to philanthropic causes, joining the Giving Pledge

Ukrainian businessman and philanthropist Victor Pinchuk has committed to give half or more of his fortune during his lifetime and beyond to philanthropic causes, joining the Giving Pledge, a philanthropic initiative founded in 2010 by Bill Gates and Warren Buffett.

“We’re very pleased that Victor Pinchuk has decided to join the Giving Pledge,” said Bill Gates, pledge co-founder and co-chair of the Bill & Melinda Gates Foundation. “Victor is a thoughtful and innovative philanthropist, and we welcome his perspective as the Giving Pledge brings people together to exchange ideas about how to be as effective as possible and smarter in our giving.”

Commenting on his decision, Victor Pinchuk said: “Joining a group of dedicated people, and with the opportunity to learn from them, I look forward to my giving becoming more impactful. Investing half or more of my fortune in my lifetime and beyond into areas like education, healthcare, access to contemporary art and the promotion of my country, I will be investing in the next generation, those who will build the Ukraine and the world of tomorrow.

I feel a special responsibility to give back to my country and society. The post-Soviet transformation process was very painful for Ukraine and other countries in the region. Some of us had the chance to use the opportunities that arose to make our fortunes. It is time to give back, so that as many citizens as possible can benefit.”

The Giving Pledge

The Giving Pledge is an effort to invite the world’s wealthiest individuals and families to commit half of their wealth to philanthropic causes and charitable organizations of their choice. The 105 pledgers range in age from 28 to 97. Globally, signatories represent 9 separate countries. In the United States, they are from 23 states and the District of Columbia, with the largest contingents from California and New York. Pledgers give to a wide variety of causes, including education, health, medical research, social services, the environment, and others. The pledgers are at different stages in their philanthropy – some have already given away the majority, while some are just getting started. But they have all committed to give half their wealth, with more than 30 pledging even more in their Giving Pledge letters. The Giving Pledge encourages open conversation about philanthropy and does not involve direct appeals, pooling money or requirements to support a particular cause or organization. Pledge signatories come together throughout the year to discuss challenges, successes, failures, and how to be smarter about giving. While the Giving Pledge is specifically focused on billionaires, it is inspired by past and present efforts that encourage and recognize givers of all financial means and backgrounds. The inspiration is the example set by millions of people who give generously (and often at great personal sacrifice) to make the world a better place.  For the full list of pledgers and personal letters by many of these pledgers outlining their commitment to give, visit www.givingpledge.org

Biography of Victor Pinchuk

Victor Pinchuk is a Ukrainian businessman and philanthropist.

Born in Kyiv in 1960, he graduated with honors from the Dnipropetrovs’k Metallurgical Institute in 1983. He became a research engineer in pipe production and earned a PhD degree in 1987. In 1990, he founded Interpipe Company on the basis of his patented innovations in pipe design, engineering and production, which were successfully adopted by leading metallurgical factories in the former USSR. In 2007, he founded EastOne Ltd., an international investment advisory company whose portfolio comprises more than 20 businesses and large-scale projects, including Interpipe and assets in Ukraine and internationally in media, oil and gas, ferroalloys and others. In 2012, he opened an IT business incubator in Kyiv, Eastlabs, and the first newly built metallurgical plant in Ukraine for 45 years, a state of the art steel mill that also includes large scale installations of world renowned artist Olafur Eliasson.

Mr. Pinchuk served two terms as an elected Member of the Ukrainian Parliament, from 1998 to 2006. He retired from politics to focus on his business and philanthropic activities.

For over 12 years Mr. Pinchuk has developed philanthropic projects in Ukraine and internationally. In 2006, he consolidated these activities under the Victor Pinchuk Foundation, which became the largest private Ukrainian philanthropic foundation. Its mission is "Empowering future generations to become the change makers of tomorrow." It focuses on education, healthcare, providing access to the inspiration of contemporary art, and fostering Ukraine's international integration. The projects of the foundation include the largest private scholarship program in Ukraine Zavtra.UA, the international scholarship program for Ukrainian students WorldWideStudies, public lectures with international leaders for Ukrainian students and the creation of the Kyiv School of Economics; a network of modern neonatal centres throughout Ukraine; the largest and most dynamic contemporary art centre in Central and Eastern Europe PinchukArtCentre – free of admission and with over 1.7 million visitors as of today – with the biannual global prize Future Generation Art Prize for artists up to the age of 35 and biannual PinchukArtCentre Prize for young Ukrainian artists; the Davos Philanthropic Roundtable and the Davos Ukrainian Lunch organized annually at the occasion of the World Economic Forum's Annual Meeting in Davos. Mr. Pinchuk has long promoted closer ties between Ukraine and the EU. In 2004, he created the Yalta European Strategy - YES - an international independent organization that is promoting Ukraine's European and global integration. Its annual meeting has become the main high-level platform in the region to discuss strategies for Wider Europe. Among the projects of the Victor Pinchuk Foundation have also been the free open air “Independence Concert” by Paul McCartney in Kyiv attended by 350.000 people and watched on TV by 13 million Ukrainians, the production of a film with Steven Spielberg on the Holocaust in Ukraine, human rights projects with George Soros and support of local Jewish communities. The Victor Pinchuk Foundation supports the Clinton Global Initiative; the educational programs of the Tony Blair Faith Foundation and of the Peres Center for Peace; it cooperates with the AntiAIDS Foundation of Mr. Pinchuk's wife Elena Pinchuk that implements projects to fight HIV/AIDS, among others in cooperation programs with the Clinton HIV/AIDS Initiative, the Elton John AIDS Foundation.

Mr. Pinchuk serves on the Board of the Peterson Institute for International Economics, the International Advisory Council of Brookings Institution and the board of trustees of the Museum of Contemporary Art (MOCA).

Mr. Pinchuk was on the "2010 Time 100 - The World's Most Influential People" ("thinkers" section, along with Steve Jobs, Lee Kuan Yew, Zaha Hadid and others); he was honored along with Elena Pinchuk at the Elton John AIDS Foundation’s «An Enduring Vision» ceremony in 2010 for contributions to the fight against HIV/AIDS; he has been included for five consecutive years in the “ARTnews 200 Top Collectors” and the "ArtReview Power 100" (#32 in 2012) and was presented with the Trebbia European Award for support of the arts and culture (2011). He is an Honorary Citizen of Kiev (2009).

For more information, press only:

For inquiries regarding Victor Pinchuk’s pledge, contact +380 44 494 11 48, [email protected]

For general inquiries regarding the Giving Pledge, contact [email protected]

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