Russia’s Elite Bet on Foundations to Secure Billions For Heirs

Wealthy Russians are increasingly setting up private foundations at home to protect and pass on their fortunes, taking advantage of the country’s drive to bring back money stashed overseas.

By Alexander Sazonov · Bloomberg Markets

Wealthy Russians are increasingly setting up private foundations at home to protect and pass on their fortunes, taking advantage of the country’s drive to bring back money stashed overseas.