Kyiv Post’s Best of Kyiv 2010: Victor Pinchuk Foundation
For the first time, the Kyiv Post is giving out an award to a charitable organization which has made the biggest impact on the community.
Our readers’ choice is the Victor Pinchuk Foundation, which in 2009 spent nearly $13.8 million – about double what the oligarch reportedly spent on his 50th birthday party in France on Dec. 14.
Its founder, Ukrainian billionaire Victor Pinchuk, whose wealth is estimated at $2.2 billion, is known for his support of arts, education and healthcare programs, as well as ex-U.S.
President Bill Clinton’s charity initiatives. The latter actually comprises the biggest portion of Pinchuk’s 2009 gifts, or more than $4 million.
A considerable portion of Pinchuk’s spending also goes to organizing the annual Yalta European Strategy summit and Ukrainian lunch during the Davos Economic Forum in Switzerland.
These events get extensive coverage by Pinchuk-owned TV channels, while the PR-team of the foundation makes sure to invite top journalists and editors on junkets to Yalta and Davos.
He may be viewed as the best of a charitably under-performing group of wealthy Ukrainians. His foundation helps with neonatal care programs and supports Ukrainian students and talented youth to the tune of $1.5 million.
Last year, Pinchuk launched a Worldwide Studies Program that sent 17 top students to foreign universities at a cost of more than $400,000. He is renewing the program this year at www.worldwidestudies.org
Moreover, Pinchuk’s and his wife, Olena (daughter of ex-President Leonid Kuchma) decided to spend an additional $10 million on various projects.
If he keeps it up, Pinchuk will remain the standard-bearer for the rest of Ukrainian’s richest. -Still, even these sums by the Pinchuks are small compared to their net worth and the nation’s needs.
Many want his future giving to put more emphasis on healthcare and educational programs than on social events and Clinton.
Therefore, the Kyiv Post’s award for the best non-profit organization goes to the Victor Pinchuk Foundation with high hopes for the future.
Victor Pinchuk Foundation
2 Mechnikova St.,