In June 2009, Pinchuk organized the Paul McCartney free concert on Independence Square in Kyiv in front of 500,000 people. As an initiative of the "Pinchuk Art Center", in December 2009, Pinchuk announced a new $100,000 prize for artists under the age of 35. The "Future Generation Art Prize" is awarded every two years and is open to any young artist who applies online. Damien Hirst, Takashi Murakami, Andreas Gursky and Jeff Koons, artists whose work Pinchuk collects, serve as mentors to the finalists and the winner.