Russian-based Georgian tycoon and philanthropist Boris (Bidzina) Ivanishvili announced in an interview to the Russian daily Vedomosty, published on April 7, that he plans to sell most of his businesses in Georgia, the news agency Novosti Gruziya reported. Ivanishvili is well-known in Georgia for his charitable activities.

Ivanishvili, whom the Russian magazine Finans (Finance) placed 17th on a list of richest businessmen in Russia,  with USD 2.35 billion, said that only the Tbilisi-based bank Kartu will remain under his control.

In Georgia Ivanishvili owns food and construction firms, as well as an agricultural company with a 600-hectare spot of land and a 300-hectare vineyard.

“I am selling all of these [firms]… I’ll be 50 soon and have no energy to deal with everything… I have no political ambition… The younger generation has come into power in Georgia. I am neither for, nor against them, that’s all I can say,” Ivanishvili said in the interview.