Mikhail Fridman, a co-founder of the Genesis Philanthropy Group and co-owner of Russia's largest financial and industrial investment group, has announced that he will give his $13.3 billion fortune to charity, Russia Today and the Times of Israel report.

Speaking at the Forbes Club in Russia, Fridman, the second-richest man in Russia, according to Forbes, said he thought his four children would be better off not inheriting a dollar of his fortune. In addition to co-founding in 2012 the $1 million Genesis Prize, which is awarded annually to a Jewish artist or scientist, Fridman has supported Jewish culture and right-wing Israeli political groups.

Fridman said he wanted his four children to forge their owns paths, as he did, adding that the prospect of a large inheritance could put them at risk from people with sinister intentions. "I'm not a big fan of such public statements, but I can say that I am going to transfer all my money to charity," said Fridman. "I don't plan to transfer any money to my children."