Russian billionaire gives away $3m bonus to staff

Russian billionaire Oleg Deripaska
has declined a bonus for 2012 and
will use the money to buy shares for
Aluminium company Rusal says the $3m
(£2m) bonus will be used to reward
around 120 employees with shares.
Mr Deripaska, who is worth $8.5bn
(£5.5bn) according to Forbes, has been
chief executive of Rusal since 2009.
The company said that the share award
is a one-off programme, but if it was
successful, awards to employees would
increase through new schemes.
Shares will mainly be awarded to
employees working in Rusal's factories;
both Russian and international
production sites.
The number to be purchased represents
0.05% of the total number of Rusal
shares in issues.
Rusal is one of the world's largest
producers of aluminium, employing more
than 72,000 people worldwide. It was
founded in 2000 and operates 20 plants
in 19 different countries.
Mr Deripaska hit the headlines back in
2008 when both Labour and the
Conservatives had to defend themselves
against allegations of impropriety in their
dealings with him.
The then shadow chancellor George
Osborne strongly denied that he tried to
solicit a donation from Mr Deripaska
when visiting the Russian's yacht in
Also, Lord Mandelson faced controversy
in the same year, when it was suggested
that whilst EU trade commissioner in
2004, he could have intervened on Mr
Deripaska's behalf. He proposed then
that tariffs on aluminium imports should
be cut from 6% to 3%.
At the time, the European Commission
said: "There was no political interference
by Peter Mandelson."
"Decisions were subject to numerous
discussions in Council and final decisions
were reached in an entirely standard and
routine manner."
A Rusal spokesman told the BBC that Mr
Deripaska also strongly denies any
business connections with George
Osborne and Peter Mandelson and any
benefits for his business resulting from
such connections.