Wealthy Russian Presidential Candidate Pledges Massive Giveaway if Elected

Russian presidential candidate Mikhail Prokhorov, a metals magnate worth an estimated $18-billion, says he will give $17-billion to charity if he wins next month’s election, Bloomberg reports.

“I’ll sell everything, all my assets when I become president and donate almost all of the money to charity,” Mr. Prokhorov said Friday on a talk show on state-run television, adding that he would keep $1-billion to have “something to live on” after he leaves the Kremlin.

Mr. Prokhorov, who also owns the New Jersey Nets basketball team, received 5 percent support in a late-January poll that showed Prime Minister Vladimir Putin with 46 percent backing. The businessman said he is aiming to make it to a runoff election, which Mr. Putin, seeking a return to the presidency he previously held for two terms, is hoping to avoid a runoff by winning more than half the votes in the first round.