Canada’s lone ‘mega-foundation’ gets court approval for early sale of billions in Mastercard stock. Could it boost Indigenous-focused impact investing?

“Mastercard could be a game changer.”

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

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