Olav Thon, one of the world’s richest people, gave away his entire fortune NOK 25.4 billion (US$4.14 billion). The money will go to charitable causes.
The Foundation shall have a Board of Directors consisting of seven members and have two purposes. The first is to own Olav Thon Group and its subordinate agencies. The second is to distribute funds for charitable purposes.
“We estimate to be able to distribute a minimum of NOK 50 million per year. Of this amount, I expect that about half will go to research, particularly in math and science disciplines, including medical sciences,” said Thon.
Source: Norway Today