A controlling interest in Allan Gray is held by Allan & Gill Gray Foundation, which has no owners in the traditional sense and is instead designed to exist in perpetuity and to serve two equally important purposes: (1) to promote the commercial success, continuity and independence of the Allan Gray and Orbis groups, and (2) to ensure that the distributable profits the Foundation receives from these firms are ultimately devoted exclusively to philanthropy.
Importantly, the Foundation does not directly manage Allan Gray, but rather vests control of the firm in Orbis Allan Gray Limited, a holding company whose board consists of a majority of present executives and includes non-executive directors. With perpetual ownership in strong hands, the management of Allan Gray can focus entirely on adding value for clients for generations to come.
Allan & Gill Gray Foundation is a new initiative, not to be confused with the ten-year old Allan Gray Orbis Foundation. We will continue to fund the education of hundreds of high potential scholars and students through our donations to the Allan Gray Orbis Foundation, while our empowerment partner E2 stands ready to finance the entrepreneurial ventures of graduating Allan Gray fellows.
Our founder, Allan Gray, outlined the reasoning for transferring the Gray family's controlling interest in Allan Gray to the newly created Allan & Gill Gray Foundation in his 31 December 2015 Chairman’s Letter.