Giorgos Tsetis Commits 20% of Family Office Profits to Philanthropy After Investing Nearly $40 Million
Updated
Updated · CNBC · Aug 13
Giorgos Tsetis Commits 20% of Family Office Profits to Philanthropy After Investing Nearly $40 Million
1 articles · Updated · CNBC · Aug 13
Summary
Great Things channels at least 20% of annual net realized profits to philanthropy, a model Giorgos Tsetis says should push wealthy families to give during wealth creation rather than after it.
Nearly $40 million has been invested over the past 18 months, while about $7 million has gone to nonprofits through gifts and pledges backed by a donor-advised fund if profits fall short.
A seven-times return on Anthropic in 18 months helped fund the approach, though Tsetis and partner Roman Kalantari say they are now more cautious on AI and favor later-stage, more liquid bets.
The family office, launched about a year ago after Tsetis sold his remaining Nutrafol stake to Unilever at a $3.5 billion valuation, expects to deploy another $60 million in the next two years.
Great Things is still testing how to balance high-return investments with impact goals, including holdings such as Polymarket that Tsetis says could be exited quickly through the secondary market.