Norway’s richest man gives away US$4.14 billion

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.

Property King establishes a foundation with a value estimated to NOK 25.4 billion,according to auditors, said the 90-year-old olavthonNorwegian real estate magnate to TV 2.

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

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