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Freedom Holding: The FIDE World Rapid & Blitz Chess Championships Debut on Wall Street

Freedom Holding: The FIDE World Rapid & Blitz Chess Championships Debut on Wall Street

Artur Efremov29 Dec 2024 - 10:23

Finance article

New York, 27 December 2024
The 2024 FIDE World Rapid & Blitz Chess Championships on Wall Street mark a historic moment for chess, finance, and global culture. This prestigious event, held for the first time in the United States, has transformed New York's financial center into a global chess epicenter. Sponsored by Freedom Holding Corp., the tournament combines the strategic brilliance of chess with the dynamic environment of finance, setting a bold precedent for future collaborations between sports and business. This visionary sponsorship, led by Timur Turlov, the CEO of Freedom Holding Corp., played a pivotal role in bringing this event to New York. Commenting on the importance of the championship, Timur Turlov said: "Chess is more than just a game; it is a vital part of human culture and history,” Turlov said.

It is particularly symbolic that this tournament is being held in New York City - a place that embodies tolerance, fair competition and achievement. Just like on the chessboard, everyone can succeed and fulfil their potential here. Freedom Holding's sponsorship of the championship reflects the company's commitment to fostering intellectual and cultural growth.

Since partnering with FIDE for the 2022 World Rapid & Blitz Championships in Almaty, Kazakhstan, the company has actively supported top-level chess events, paving the way for emerging talent and expanding the sport's global appeal. Beyond chess, Freedom Holding Corp. underlines its wider commitment to corporate social responsibility. In 2024 alone, the company invested $82 million in 52 ESG projects across its global markets. This dual focus on chess and social impact highlights Freedom Holding's innovative approach to integrating business success with societal enrichment.

Chess and Finance: A Strategic Synergy

Chess and finance share more than just a competitive spirit. Both require fast, decisive thinking, long-term strategic planning, and the ability to adapt to unpredictable moves. Timur Turlov drew parallels between the two disciplines: "The ability to make quick, accurate decisions under pressure is crucial, both in chess and in business." FIDE Vice President and former World Champion Vishy Anand echoed this sentiment, noting: "New York is the financial centre of the world and this week it will become the chess centre of the world". This unique connection will be further explored at the Wall Street Gambit Chess and Finance Conference, a key feature of the event. Leading financial innovators and chess legends come together to share insights on strategy, decision-making and risk management. Today's highlights and what's ahead The tournament, which began on 26 December and runs until 31 December, has already captivated chess enthusiasts and financial professionals alike. The event features both Rapid and Blitz formats, with time controls of 15 minutes plus a 10-second increment per move for Rapid and 3 minutes plus a 2-second increment per move for Blitz. With a total prize fund of $1,428,500, the stakes are high.

Day 2 of the competition saw exciting matches between the world's top players, including reigning champions and rising stars. Magnus Carlsen, the face of modern chess, and a diverse lineup of elite competitors kept audiences on the edge of their seats. In addition to the tournament rounds, the Wall Street Gambit conference kicked off with discussions on the intersection of chess and financial strategy, attracting a crowd of dignitaries, celebrities, and business leaders. The event's exclusive networking opportunities and one-on-one chess challenges with grandmasters have added a layer of sophistication to this global celebration of intellect. In the coming days, spectators can look forward to the Blitz Championship, where games will be accelerated to lightning speed, testing players' reflexes and tactical ingenuity. The championship final on 31 December promises to crown new legends and cement chess' place as a global cultural phenomenon.

Chess as a Cultural Force

This event is more than a tournament - it is a testament to the enduring power of chess as a bridge between cultures and disciplines. As Timur Turlov so aptly remarked, "May this championship be a celebration of intellect, inspiration and friendship". By hosting the event on Wall Street, Freedom Holding Corp. has not only elevated the status of chess but also highlighted its relevance in the modern, fast-paced world. As the championship unfolds, one thing is clear: the synergy between chess and finance has found its perfect stage, and the legacy of this event will resonate far beyond the confines of the board.

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