Marcus and Amalia Wallenberg Foundation was created by a donation from the bank director Jacob Wallenberg in 1960.
The original endowment was SEK 442,000. Since its establishment, the Foundation has awarded grants of SEK 1.5 billion.
Focus on the humanities
The Foundation primarily grants funding for the humanities and learning. The Foundation prioritizes projects that include new research areas and research of a cross-border nature, preferably with a focus on IT and digital media.
Grants within children’s activities can be applied for by non-profit companies and organizations as well as associations that conduct activities for children up to 18 years.
The Foundation mainly funds projects of high scientific potential and provides individual support to outstanding scientists. The Foundation also initiates programs to support children’s activities and, from time to time, also initiates scholarship programs.
Establishment of the Foundation
Marcus and Amalia Wallenberg Foundation was created by a endowment from the bank director Jacob Wallenberg in 1960, the endowment was enlarged in 1978 by a donation of his estate Malmviks Gård on Lindö outside Stockholm. Jacob Wallenberg named the foundation after his parents Marcus and Amalia Wallenberg.
The initial endowment was SEK 442,000. Since its establishment, the Foundation has awarded grants of about SEK 1.3 billion.
Jacob Wallenberg, was a banker and was employed at Stockholms Enskilda Bank in 1918, after sea officer training and a degree at the Stockholm School of Economics. He was appointed vice president two years later and was then CEO of the bank from 1927 to 1946 when he was succeeded by his brother Marcus Wallenberg.
Subsequently, Jacob Wallenberg was chairman of the investment companies Investor and Providentia until 1978, where he served as chairman of the many industrial companies in the Wallenberg sphere. Jacob Wallenberg also had internationally-oriented assignments for the Swedish government and for many years chaired the Royal Swedish Yacht Club.