STOCK SURGE BOOSTS LILLY ENDOWMENT TO $100 BILLION IN ASSETS
States News Service
The following information was released by Candid:
A surge in the stock of pharmaceutical giant Eli Lilly and Co has bolstered the assets of the founding family's private foundation to a record $100 billion in assets, Bloombergreports.
According to a Securities and Exchange Commission filing obtained by Bloomberg, the Lilly Endowment is the company's largest shareholder, with 92.5 million shares. In November, Eli Lilly became the first pharmaceutical company to hit a $1 trillion valuation. Last year, the endowment topped the Gates Foundation as the largest U.S. foundation in terms of assets under management.
The endowment will award at least $3.6 billion in 2025 due to stock surges last year. Moreover, its giving in 2026 will likely be even higher as the endowment's share are up about 40 percent this year. The foundation typically focuses its grants on religion, education, and community development in its home state of Indiana.
"We're grateful to have expanded resources to devote to the causes that our founders established when they created Lilly Endowment in 1937," endowment communications director Judith Cebula told Bloomberg.
AI Neo-Insurer MGT Adds Senior Leaders from Google and High-Growth Tech Startups to Scale Operations and Drive Growth
Seel Partners With Leading Insurance Partners To Scale Its Post-Purchase Service
Advisor News
- CT governor’s candidates claims: What’s true, and what’s misleading
- Retaining clients by giving them a memorable experience
- Addressing the longevity paradox
- Employers shift focus from retirement access to financial outcomes
- Helping widowed clients navigate their new financial reality
More Advisor NewsAnnuity News
- National Life Group expands annuity portfolio
- AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
- USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
- How flexible annuities fit today’s retirement portfolios
- Foresters Financial appoints Tom Ross as chief distribution officer for U.S. annuity sales
More Annuity NewsHealth/Employee Benefits News
- How benefits are evolving to support caregivers
- Sand, Lahn call for increasing mental healthcare access, Medicaid oversight in debate
- CT health insurance premiums are going up but help is available. What to know
- Can your finances handle an unexpected health crisis?
- NC's State Health Plan taps retiree funds amid cash crisis, reaches deal with Atrium Health
More Health/Employee Benefits NewsLife Insurance News