The Olav Thon Foundation ( no, Olav Thon Stiftelsen) is a Norwegian foundation and as such the biggest in

Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and t ...

Information

In accordance with its

statute A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by le ...

s, the Olav Thon Foundation's primary activity is to own the Olav Thon Group, including the hotel chain

Thon Hotels Thon Hotels (formerly known as Rainbow Hotels) is a Norwegian-based hotel chain. It is currently the 3rd largest hotel chain in Norway with 50-odd hotels in Norway, Belgium and the Netherlands. History The Thon Hotel chain was established in 1 ...

.Lotteri- og stiftelsestilsynet (i.e. Norwegian Gaming and Foundation Authority)
Olav Thon opprettar Norges største stiftelse (i.e. Olav Thon Institutes Norway's Largest Foundation)
10 December 2013. This makes the foundation a sizable

business sector In economics, the business sector or corporate sector - sometimes popularly called simply "business" - is "the part of the economy made up by companies". It is a subset of the domestic economy, excluding the economic activities of general govern ...

participant and one of the country's bigger

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

owners. The foundation's

capital Capital may refer to: Common uses * Capital city, a municipality of primary status ** List of national capital cities * Capital letter, an upper-case letter Economics and social sciences * Capital (economics), the durable produced goods used f ...

is approximately 25,4 billion

crowns A crown is a traditional form of head adornment, or hat, worn by monarchs as a symbol of their power and dignity. A crown is often, by extension, a symbol of the monarch's government or items endorsed by it. The word itself is used, partic ...

, of which 15 billions are so-called unattackable. Additionally, the Olav Thon Foundation gives annual economic support to

scientific Science is a systematic endeavor that builds and organizes knowledge in the form of testable explanations and predictions about the universe. Science may be as old as the human species, and some of the earliest archeological evidence for ...

projects within

mathematics Mathematics is an area of knowledge that includes the topics of numbers, formulas and related structures, shapes and the spaces in which they are contained, and quantities and their changes. These topics are represented in modern mathematics ...

natural science Natural science is one of the branches of science concerned with the description, understanding and prediction of natural phenomena, based on empirical evidence from observation and experimentation. Mechanisms such as peer review and repeatab ...

, and

medicine Medicine is the science and practice of caring for a patient, managing the diagnosis, prognosis, prevention, treatment, palliation of their injury or disease, and promoting their health. Medicine encompasses a variety of health care pract ...

. This includes up to ten annual prizes of 500,000 crowns each, given to Norwegian or foreign

scientist A scientist is a person who conducts Scientific method, scientific research to advance knowledge in an Branches of science, area of the natural sciences. In classical antiquity, there was no real ancient analog of a modern scientist. Instead, ...

s, and an annual international prize of five million crowns. The Olav Thon Foundation was established on 10 December 2013 in

Oslo Oslo ( , , or ; sma, Oslove) is the capital and most populous city of Norway. It constitutes both a county and a municipality. The municipality of Oslo had a population of in 2022, while the city's greater urban area had a population of ...

Olav Thon Olav Thon (born 29 June 1923) is a Norwegian real estate developer and listed in the ''Forbes'' list of billionaires as the 198th richest person in the world with a net worth of $6 billion as of March 2013. He is Norway's richest person a ...

Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was estab ...

Norway's richest man gives chunk of fortune to charity
/ref>

References

{{Reflist Foundations based in Norway Norwegian billionaires

Information

See also

References