Stan Polovets and the Genesis Prize: a story of resilience and philanthropy, celebrating Jewish excellence and inspiring global contributions.
Stan Polovets’ journey from the Soviet Union to the United States of America shaped his values and approach to philanthropy. Born in Moscow, Polovets, the CEO and co-founder of The Genesis Prize Foundation, immigrated to the United States at the age of 13 with his father. They were poor, new immigrants living in Los Angeles in the late 1970s. Polovets worked as a busboy, a delivery person, and a taxi driver. This transition from a life of scarcity to one of success in America instilled in him a deep understanding of resilience and the importance of giving back. Witnessing his father’s unwavering generosity, Polovets learned the value of helping others, a lesson that would later define his philanthropic endeavors.
He says, “For as long as I remember, money was always scarce. Nevertheless, every opportunity my father had to help others, he would do so.” As Polovets achieved professional success, he began to emulate his father, likely subconsciously. “It just seemed like a natural thing to do,” he explains.
The Stanford-educated international business leader’s career spans multiple industries. He has consistently found that democratic leadership works best for him and the teams he manages. Although Polovets makes the final decisions, he does so after hearing each team member’s perspective. He believes this inclusive and empowering leadership style leads to better decisions and more engaged teams. He acknowledges that while this approach takes more time, it motivates his colleagues to participate, knowing that their voices are heard and their opinions are valued.
He concludes that the ability to adjust to new circumstances, personally and professionally, is his most important lesson. He was only 6 when his mother passed away. His father once managed a large publishing enterprise in the Soviet Union, responsible for printing all medical materials in the USSR, and he provided his family with a comfortable life in Moscow. However, a few months later, his father was making silkscreen images on T-shirts in the backroom of a small clothing store in downtown Los Angeles. Meanwhile, Stan Polovets worked as a busboy in a nearby Armenian restaurant, eating leftover food from customers’ plates.
He says, “Things can change in a very short time. We need to adapt and not despair.”
Stan Polovets: A Multifaceted Career
Beginning his professional journey at ExxonMobil as a financial analyst, Stan Polovets quickly shifted to management consulting roles with KPMG and Ernst & Young. In 1992, he founded the Russian Petroleum Investor Group, a boutique communications and consulting firm.
Polovets’ significant achievements include his role at TNK-BP, where he was vice president of M&A and later senior vice president and chief of staff, overseeing the merger of TNK with BP, the largest corporate transaction in Russian history. He also held executive positions at Uralsib Financial Corp and the Alfa-Access-Renova Consortium, managing a global energy portfolio valued at over $25 billion.
From 2013 to 2019, Stan Polovets served as lead nonexecutive director at L1 Energy, an investment vehicle of LetterOne with holdings across the globe. His leadership extended to Edelman, where Polovets was chairman for Russia and Eastern Europe, and CLAL Industries, one of Israel’s largest diversified holding companies. In 2020, he became chairman of the board at Anchiano Therapeutics, a Nasdaq-listed biotech company focused on developing novel cancer treatments.
The Genesis Prize Foundation: Celebrating Jewish Excellence
In addition to his multifaceted work as a business leader, Stan made a significant mark in the philanthropic world by co-founding the Genesis Prize in 2013. The prize honors Jewish individuals and organizations who have achieved remarkable professional success and contributed positively to humanity. “We are living in a time where assimilation and antisemitism have inhibited open expressions of Jewish identity around the globe. The [Genesis Prize] Foundation saw an opportunity to use a new tool for fostering that pride: spotlighting a Jewish individual who has achieved unparalleled professional success while speaking openly and positively about their Jewish identity,” says Polovets.
The prize awards $1 million annually to laureates. Michael Bloomberg, the inaugural recipient, set a precedent by donating his prize money, and subsequent laureates have followed suit. In its first decade, the foundation — with the help of matching donors — has donated over $50 million in grants to more than 230 nongovernmental organizations across 31 countries.
The foundation’s approach is unique within Jewish philanthropy: “It is the only organization awarding an annual $1 million to an individual who does not take the money but turns it around and invests it back into the community, often doubling or tripling the contribution through matching donors, grants,” says Stan Polovets. This innovative model has galvanized additional funding and brought global attention to critical issues.
Michael Douglas received the second Genesis Prize and advocated for the inclusion of intermarried families into Jewish communities. Itzhak Perlman followed, supporting initiatives for people with disabilities. Anish Kapoor allocated his prize funds to help address the refugee crisis.
Ruth Bader Ginsburg was honored in 2018 with the inaugural Lifetime Achievement Award, chosen by previous laureates for her contributions to justice and equality. That year, the prize funds were directed to women’s empowerment initiatives in her honor.
Robert Kraft founded a new foundation to fight antisemitism. Natan Sharansky directed his prize funds to organizations supporting vulnerable populations during the COVID-19 pandemic. Steven Spielberg received the prize and supported organizations working toward racial and economic justice in the United States.
Rabbi Lord Jonathan Sacks was posthumously honored for his lifelong work as a teacher and advocate of interreligious dialogue. Albert Bourla was recognized for his leadership during the pandemic, expediently developing a COVID-19 vaccine, and used his prize funds to support the establishment of a Holocaust museum in his hometown of Thessaloniki, Greece.
In 2023, Jewish activists and organizations aiding the people of Ukraine were recognized for their contributions during the ongoing conflict. Barbra Streisand directed her 10th anniversary Genesis Prize funds to various nonprofit organizations focusing on environmental protection, women’s health, combating media disinformation, and supporting Ukraine. Israeli organizations providing care, counseling, and support to hostages kidnapped by Hamas and their families were honored with the most recent award, raising global awareness about their plight.
Polovets, whose work now is focused almost exclusively on philanthropy, envisions a strong and vibrant Jewish community, rooted in its heritage yet forward-looking. The Genesis Prize aims to unite the Jewish community around its most pressing issues, such as the ongoing hostage crisis, with over 100 hostages still held by Hamas in Gaza.
Stan Polovets believes in fostering Jewish pride through role models who inspire the next generation. “The more Jews feel proud and connected to their identity and see highly accomplished individuals demonstrating the same, the stronger our community will be heading into the future,” Polovets says.