Philanthropy Overview

President George W. Bush and Mrs. Laura Bush a...

President George W. Bush and Mrs. Laura Bush are briefed on the 2014 Winter Olympics in Sochi during their visit Saturday, April 5, 2008, to President Vladimir Putin’s summer retreat in Sochi, Russia. (Photo credit: Wikipedia)

Much like Bill & Melinda Gates, Mr. Makhmudov has given away a lot of his personal fortune.

Mr. Makhmudov owns an ice arena in the city of Sochi, Russia, which will host the 2014 Winter Olympics. It was reported in February 2013 that he will give the arena to the Russian government, free of charge, for use in the Olympics.

Mr. Makhmudov has given over one billion dollars to charitable causes over the past decade, including medical clinics, housing programs, orphanages, and programs for war veterans. According to the Yekaterinburg News: “As of 2011, those clinics expanded their operations to serve free of charge not only the children of UMMC employees, but also disabled children, orphans and children from disadvantaged families in the community.”

Additionally, it was reported that Mr. Makhmudov’s company plans to send five L-410 UVP E20 planes to the Orenburg region to help the area with regional cargo shipments by the end of next year. “Three of the planes from the Czech aircraft factory are passenger airplanes and the remaining two are convertible aircraft that can provide the region with medical services in remote areas, RusBusinessNews reports.”

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