Stan Polovets has built a career that spans various industries, from energy and finance to biopharmaceuticals and philanthropy. His career trajectory reflects a blend of strategic vision, leadership, and a deep commitment to making a difference. Born in the former Soviet Union and later immigrating to the United States, Polovets’ story is one of resilience and adaptability, and it led him to become a transformative figure in both business and philanthropy.
Stan Polovets’ career began in the mid-1980s. He started as a financial analyst at ExxonMobil (1985-86), where he gained valuable experience in the energy sector. This role provided a solid foundation for his subsequent positions at KPMG (1986-87) and Ernst & Young (1990-92), where he served as a senior manager specializing in international mergers and acquisitions, particularly focusing on Eastern Europe and the former Soviet Union.
Polovets founded the Russian Petroleum Investor Group, where he served as CEO from 1992 to 2001. His work in this role was pivotal in attracting foreign investment and driving regional growth. He later took on the role of adviser to the CEO of Williams (1999-2001), a Fortune 500 company with significant energy infrastructure across the United States.
Polovets’ influence expanded further when he joined TNK in 2001 and in 2003 was instrumental in creating TNK-BP, one of the largest joint ventures in the global energy sector, controlling over 18% of Russia’s oil production. His role in the biggest corporate transaction in Russian history cemented his reputation as a leader capable of navigating complex international business environments.
From 2008 to 2013, Polovets served as CEO of the AAR Consortium, overseeing a global energy portfolio valued at over $25 billion. His role in the AAR Consortium demonstrated his ability to manage large-scale operations and drive strategic growth on an international scale. Polovets also held prominent positions at Edelman (chairman for Eastern Europe, 2014-16) and CLAL Industries (lead non-executive director, 2014-19). In 2020, he became chairman of Anchiano Therapeutics Ltd., a Nasdaq-listed biotech company, where he successfully oversaw a merger that generated a 630% return for shareholders within a year.
The Genesis Prize: Honoring Excellence and Jewish Identity
In 2013, Stan Polovets co-founded The Genesis Prize Foundation, an organization dedicated to celebrating Jewish achievement and inspiring pride in Jewish identity worldwide. The Genesis Prize is awarded to individuals or organizations who have significantly contributed to society while maintaining their Jewish identity. The $1 million prize is directed by the laureates to charitable causes.
The Genesis Prize was first awarded in 2014 to Michael Bloomberg, the former mayor of New York City, who was recognized for his contributions to public service and philanthropy. Bloomberg chose to forgo the $1 million prize and instead used the funds to establish the Genesis Generation Challenge, a global competition designed to inspire young entrepreneurs to develop innovative solutions to pressing social issues.
Subsequent laureates have continued this tradition of impactful giving. In 2015, Oscar-winning actor Michael Douglas used his prize and the global platform of the Genesis Prize to advocate for the inclusion of intermarried families within Jewish communities. The following year, in 2016, the prize was awarded to renowned violinist Itzhak Perlman, who directed his funds toward initiatives supporting people with disabilities and efforts to encourage a more just society.
Artist Anish Kapoor was the 2017 laureate, honored for his contributions to humanitarian efforts and contemporary art. Bringing much-needed attention and resources to displaced populations, Kapoor’s prize funds helped address the global refugee crisis.
The Genesis Prize Foundation introduced the Lifetime Achievement Award in 2018, with the inaugural honor going to U.S. Supreme Court Associate Justice Ruth Bader Ginsburg. Ginsburg was celebrated for her work in civil rights and women’s advocacy, and the prize funds helped initiatives supporting women’s empowerment. The 2019 prize was awarded to the philanthropist and owner of the New England Patriots Robert Kraft, who immediately directed the $1 million funds to combatting antisemitism.
In 2020, Natan Sharansky was recognized for his lifelong advocacy of religious and political freedoms. He directed his prize funds to organizations helping vulnerable populations affected by the COVID-19 pandemic. In 2021, Rabbi Lord Jonathan Sacks received a posthumous Lifetime Achievement Award, honoring his work in interreligious and intercultural dialogue. That same year, filmmaker Steven Spielberg directed his prize to organizations working toward racial and economic justice in the United States.
The Genesis Prize Foundation continued its impactful giving in 2022 by honoring Pfizer’s CEO Albert Bourla for his leadership in developing the COVID-19 vaccine. Bourla allocated his prize to support the establishment of a Holocaust museum in Thessaloniki, Greece, where he was born and raised.
The Genesis Prize Foundation continued its tradition of impactful giving in 2023 by honoring Jewish activists and organizations providing critical support during the ongoing conflict in Ukraine.
And to mark its 10th anniversary in 2024, the Genesis Prize was awarded to Emmy, Grammy, Oscar, and Tony winner Barbra Streisand. A separate 2024 prize also recognized Israeli organizations that provide care, counseling, and support to released hostages abducted by Hamas and their families.
How Business Acumen Informed Stan Polovets’ Philanthropic Success
Stan Polovets’ success in the business world has profoundly influenced his approach to philanthropy. His experience across industries has taught him valuable lessons about leadership, strategy, and the importance of adaptability. As he explains, “Regardless of the industry, I have found that democratic leadership works best for me and the teams I have managed. Although I made the final decisions, I did so after hearing each team member’s perspective.”
Polovets’ inclusive leadership style has also been a guiding principle in his philanthropic work. Under his leadership, The Genesis Prize Foundation has employed innovative strategies to maximize its impact. For example, the foundation’s matching grants programs have successfully doubled and tripled the annual $1 million prize, galvanizing other funders around critical philanthropic causes.
Polovets’ business acumen also shines through in the strategic partnerships he has fostered through The Genesis Prize Foundation. “None of us can do this work alone,” Stan Polovets says. By partnering with individuals, organizations, and donors, the foundation has been able to amplify its impact and pioneer new approaches to philanthropy.
Polovets’ commitment to philanthropy is deeply rooted in his personal experiences and family history. He moved to the U.S. in 1976, and was profoundly influenced by his father’s generosity. “For as long as I remember, money was always scarce. Nevertheless, every opportunity my father had to help others, he would do it,” he says.
This influence was evident in Polovets’ establishment of the Vnimanie Foundation, which was dedicated to supporting children with learning disabilities and behavioral disorders in Russia. The organization had been born out of a personal experience when one of Polovets’ own children was diagnosed with ADHD while they were living in Russia. Recognizing the lack of support for children with similar conditions, Polovets took it upon himself to create change, ultimately leading to the acknowledgment of ADHD as a legitimate disorder in Russia.
Stan Polovets exemplifies how thoughtful leadership and a commitment to broader societal goals can leave a lasting impact across industries. His work continues to influence and inspire, setting a benchmark for how strategic vision can drive innovation and contribute to a better world.
