Worth an estimated €1.2 billion according to Forbes, Hinrikus was Estonian unicorn Skype's first employee and is the cofounder of fellow fintech unicorn Wise — formerly TransferWise.

Since 2021, he has donated €35,000 to the Social Democratic Party (SDE) and €73,021 to Eesti 200, and since last May, he has supported the Reform Party with €45,000. The coalition's fourth partner, Isamaa, last received €3,021 from him four years ago, daily Postimees reports (link in Estonian).

According to Tallinn Deputy Mayor Madle Lippus (SDE), the proposal to award the city's highest honor to Hinrikus was made based on his substantial and long-term contributions to the development of the Estonian capital.

Mayor Jevgeni Ossinovski (SDE) explained to Postimees that the reasons he proposed awarding the Tallinn Coat of Arms to Hinrikus can broadly be divided into three categories.

These include boosting Tallinn's recognition as an innovative global city, primarily through his role as cofounder of Wise, but also via other entrepreneurial projects; Hinrikus' strong social awareness, which is evident in his support of various social enterprises and civic initiatives; and his contributions to the development of a European-style urban space, where Hinrikus, as an investor, contributes to the public good by investing in high-quality urban spaces.

Tallinn City Council deputy chair Monika Haukanõmm (Center) noted that this year's awarding of the Coat of Arms and other honors raises several questions.

Traditionally considered a lifetime achievement award, the Coat of Arms has now been given — under the current leadership of the Social Democrats — to a relatively young individual who, she said, can't be described as having made long-term contributions.

--

Follow ERR News on Facebook and Twitter and never miss an update!