Poker Philanthropist Kurganov Advising Elon Musk on $5.74bn Charity Donation

Igor Kurganov Elon Musk

For some of us it is their dream to become official poker players and receive tens of millions of greenbacks in match winnings. But for others, that’s fine the 1st step in a grand increased thought.

For feeble PokerStars Crew Pro member Igor Kurganov the following step used to be philanthropy, by establishing the poker-essentially based mostly fully non-earnings organization Elevating for Efficient Giving (REG).

And it appears adore the following step is by giving the richest individual on this planet a helping hand when it involves helping succesful causes.

Igor Kurganov: ‘Poker Is the Closing Riddle’

Elon Presents Encourage

It has emerged that final November Elon Musk proficient $5.74 billion price of Tesla stock to charity. Musk, who has in overall been criticized by folk who claim he would no longer donate ample of his derive price to charity, used to be reportedly helped in determining the recipients of the correct reward by Kurganov himself.

In the past, Musk has donated to local college programs near the SpaceX position port in South Texas, moreover tens of millions of greenbacks to strive in opposition to local weather switch and COVID-19.

As reported by Bloomberg, nearly the total recipients maintain been working with Kurganov.

Historic past of Giving Encourage

Kurganov has over $18.7 million in live match cashes per the Hendon Mob database. The Russian crusher and his long-time female friend Liv Boeree maintain scaled again their poker commitments within the past two years. In this day and age, the poker vitality couple is more enthusiastic about philanthropy.

Igor Kurganov

Elevating for Efficient Giving (REG) used to be based mostly in 2014 by the pair and raised $1.5 million in its first two years.

In 2017, after Kurganov obtained his first WSOP bracelet alongside Boeree, they donated 50% of their winnings to REG.

The organization strives to empower of us to present better giving picks by promoting the opinion of nice giving, providing donation suggestion to people and organizations, and supporting fundraising campaigns and events.

In step with Kurganov himself, the charities they fundraise for are exceptionally rigorous in each transparency and maximizing the affect of their obtained donations. Kurganov believes that poker players receive a rational, quantifiable skill to their sport and this philosophy ought to peaceful also apply to the philanthropic world to basically the most fine with our restricted resources.

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Many poker players equivalent to Justin Bonomo, Martin Jacobson, and Erik Seidel maintain worn REG patches all over foremost poker tournaments and donated a allotment of their winnings to the charity.

Billionaire’s Mystery Items

Kurganov has it sounds as if been hired to again Musk receive proposals from prospective grantees as he potentially pivots into nice altruism. Nonetheless, it is sure that any donations would also again Musk reduce his $11 billion U.S. tax bill, with analysts believing he could perhaps likely set between 40% and 50% of the $5.7 bn in tax.

For those questioning, I am going to pay over $11 billion in taxes this one year

— Elon Musk (@elonmusk)

What is unclear is where this mystery donation went to. There has been speculation that it is being held in a donor-informed fund (DAF), which functions as a holding story for the cash earlier to it is donated. Forbes says that cash can remain in a DAF for years without ever leaving for a non-earnings organization or charity. It could most likely perhaps perhaps likely nicely be that Kurganov is now managing one or even several DAFs for Musk.

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Will Shillibier

Executive Editor E.U.

Will Shillibier is essentially based mostly fully within the UK. He graduated from the College of Kent in 2017 with a B.A. in German, after which studied for a NCTJ Diploma in Sports activities Journalism at Sportsbeat in Manchester. He beforehand worked as a contract live reporter, and video presenter for the World Poker Tour.

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