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The world's biggest philanthropists have a new investment strategy: They'll sell off their shares in the company that bears their name over the next seven years.
The Mastercard Foundation says it will sell off its stake in the company while keeping a "significant overweight" holding in its portfolio, CNBC reports.
"In order to contribute to job creation and promote fulfilling employment, the Foundation plans to sell its Mastercard stock over a seven-year period while maintaining a significant overweight holding in its portfolio," the foundation said in a statement.
"The Foundation believes that diversifying its portfolio will enable them to expand their work and impact, investing in the people and programs necessary to achieve their goals."
The company's stock opened at 380.85 and was up 1.81 points as of this writing.
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