Ivanishvili donates material assets worth $1.5 bln to Cartu Charity Foundation

Ivanishvili donates material assets worth $1.5 bln to Cartu Charity Foundation

Former Prime Minister of Georgia and the founder of the ruling Georgian Dream party Bidzina Ivanishvili said he will donate 90% of his material assets worth $1.5 bln, except those with credit or other obligations, to the Cartu Charity Foundation. 

He told Entrepreneur news agency that the purpose of the assets ‘cannot be changed’ in the process of management or alienation, because most of them ‘are not ordinary business projects’ but projects which are targeted for the development of individual branches, or even entire regions, and are designed to ensure improvements in economic, tourism and other fields.

The assets will also include Ivanishvili’s collection of paintings, Agenda.ge reported.

Twenty-six assets have already been donated to the foundation per the State Registry Agency, while two others are being transferred. 

Ivanishvili, who announced yesterday that he has left Georgian politics, stated that he will keep $200 mln for himself from his property. 

"To my children I will leave enough not to lose motivation for their full self-realization and development," Ivanishvili said. 

Ivanishvili stated that the information released by Forbes and Bloomberg that his wealth amounts to $5.5 bln, is incorrect. 

"The figure is outdated. I have not worked with Forbes in over a decade. As for Bloomberg, I have never worked with them, though they too publish their own data," Ivanishvili said.