Canada’s lone ‘mega-foundation’ gets court approval for early sale of billions in Mastercard stock. Could it boost Indigenous-focused impact investing?
Why It Matters
The Mastercard Foundation’s staggering size means even a modest change to its investment strategy could have a big impact both domestically and abroad.
An Ontario court has approved a request by the Mastercard Foundation, Canada’s only mega-foundation, to sell billions of dollars worth of Mastercard Inc. stock more than three years earlier than initially planned — a move that could impact how the foundation invests domestically and internationally according to some experts.
One of the world’s largest foundations with assets of US$37 billion, it was established during Mastercard Incorporated’s initial public offering in 2006, receiving 10 per cent of the company’s equity, then worth about US$500 million.
As part of the donation, the foundation agreed it wouldn’t sell any corporate stock before May 1, 2027, other than to satisfy Canada’s disbursement quota — the annual amount a foundation must spend on grants and other charitable projects — and to pay its operating expenses.
This unusual arrangem
Join a community of 2000+ impact-oriented professionals like you. Get full access to this story and all Future of Good content, including tickets to our digital events and networking, with a membership.
Already have an account? Sign in.
