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Billionaire Kerkorian’s wealth shielded properly from Armenian authorities’ hands - newspaper

Yerevan- Armenia’s authorities are searching for ways to get their hands on a part of the heritage of billionaire Kirk Kerkorian, an American businessman, investor, and philanthropist of Armenian descent, which will be allocated to Armenia, Haykakan Zhamanak reports referring to its sources. According to the newspaper, it is stipulated in Kerkorian’s will that the Armenian authorities must not control these financial resources.
It became known earlier after Kerkorian’s will was opened in the United States that the philanthropist has ordered to sell his property and to continue financing the programs he financed while alive.    

The billionaire also ordered in his will to set up a special council for managing this money for implementing the programs in Armenia, but not a single Armenian official must be a member of this council. 

The council is likely to be made up of U.S. citizens, maybe of Armenian descent, and the U.S. embassy in Armenia will play a major part in distribution and control of this sum.

Haykakan Zhamanak also remembers that for 22 years of its activity in Armenia Kerkoryan’s Lincy Foundation has provided about $1 billion to Armenia, but Kerkorian got angry when found out that the Armenian authorities pocketed a significant part of the last 200 million.

Kerkorian closed Lincy Foundation in 2011 and stopped providing money to Armenia. Now Armenia is believed to inherit about $200 million of his three-billion wealth, but on the condition that not a single Armenian official will come close to it.


Kirk Kerkorian died on June 16, 2015 in Los Angeles. According to Forbs, his wealth was estimated at about $4.2 billion. 
Kerkorian is known as one of the most prominent figures of Las Vegas and as the "father of the mega-resort".

In 2004, he was bestowed the title of National Hero of Armenia, the highest state award.


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