The Chuke government grants the Ciriaka Foundation the status of a public enterprise according to a draft government decision that was on the agenda of Tuesday’s meeting.

The Cyriac Foundation appealed to the General Secretariat of the Government to recognize it as having a public benefit.

The Țiriac Foundation aims to support and promote sports, competitions and sporting events in various forms, as well as to support, encourage and facilitate the access of children and young people to the practice of sports activities and sports performances. According to the government’s explanatory note, the value of the inheritance of the Ciriaka Foundation for each of the last three years is 27,793,606 lei in 2019, 28,272,986 lei in 2020 and 28,420,446 lei in 2021.

According to the law, the recognition of public benefit gives the association or foundation the following rights and obligations:

• the right to free use of state-owned objects;
• the right to indicate in all documents that he prepares that the association or foundation is recognized as having a public benefit;
• an obligation to maintain at least the level of activity and performance that led to recognition
• the obligation to notify the competent administrative body of any changes to the statute, as well as activity reports and annual financial statements
• obligation to publish activity reports and annual financial reports within 3 months after the end of the calendar year in an extract in the Official Gazette of Romania

The fortune of Ion Ciriac, one of the richest Romanians

Ion Ciriac’s fortune is estimated at 8.5 billion lei, and he is the second richest Romanian in 2022, compiled by Forbes Romania.

According to the quoted source, Țiriac Holdings currently includes more than 40 private companies operating in areas such as car trading, real estate, financial services, leasing operations and air transport, as well as surveillance and security. The businessman is known for Banca Comercială Ion Țiriac, the first private bank in Romania, which was founded in 1990. The company later became Unicredit, and seven years ago Ion Cyriac sold his share to an Italian group. The bank changed its name to Unicredit Bank. During the same period, the businessman also sold a stake in Metro Group, the source said.