Two million dollar baby

Jewish billionaire Gennady Bogolyubov celebrates daughter's birth by granting $500 each to Chabad's 4,000 representatives worldwide

Many Jewish charitable organizations enjoy the generosity of Jewish billionaire Gennady Bogolyubov, also known by his Jewish name Zvi Hirsch. Bogolyubov, one of Ukraine's super-rich with wealth amounting to some $10 billion, dominates a banking, sales, oil, media and food empire together with his Israeli-Jewish partner, Igor Kolomoisky.

Bogolyubov has drawn closer to Judaism in recent years. Thanks to the ongoing efforts of the Chabad representative in Dnipropetrovsk, Rabbi Shmuel Kaminsky, Bogolyubov has become one of the staunchest supporters of Hassidism.

The Ukrainian billionaire was particularly impressed with the Chabad network of 4,000 representatives around the world – from Vietnam to Honolulu. As a sign of his respect, Bogolyubov set up a special fund. Each time a representative celebrates some joyous family occasion, he receives up to $5,000 from the fund.

After giving out some 5,000 grants worth a total of about $10 million, it was Bogolyubov's turn to celebrate. A month ago, his daughter Dina was born, and he decided to celebrate the birth in an original way: He gave $500 to each of the 4,000 Chabad representatives – a total of $2 million.

"It is flattering that he chose us to be partners in his business success," said one of the happy beneficiaries. "His joy will be spread around 4,000 homes, and we are full of gratitude. The money will help us spread the light of Judaism around the world."

Bogolyubov, who lives in London, is busy constructing a huge Chabad house in the city in which he grew up, Dnipropetrovsk, where he is also leader of the Jewish community. The project, which will cost $20 million, will meet all the needs of the local Jewish community and include educational institutions, an events hall, and a beautiful synagogue