The Olav Thon Foundation
In 2013, Olav Thon transferred most of his property and shares in Olav Thon Gruppen AS, with an estimated value of NOK 25 billion, to the Olav Thon Foundation.
«It is important for me that the future of the Olav Thon Group is safeguarded, so that the business provides secure jobs for all its employees and can also work both to promote the non-profit purposes that I wish to support and for society in general,” Olav Thon said when he founded the Foundation.
The objects of the foundation are to exercise stable and long-term ownership of The Olav Thon Group AS and its subsidiaries in accordance with the key guidelines established by Olav Thon for his businesses, and to distribute funds to charitable causes.
Each year approximately NOK 100 million can be funded for purposes defined in the Foundation’s Articles of Association.
The majority of funds go to go to the prevention of musculoskeletal disorders and excellent teaching in all subjects and all teaching levels.
Olav Thon Foundation’s first awards on academic prizes and research support, was in March 2015.
Funding of other non-profit purposes occur twice a year.