Erica Berger began running her family office after her father died in 2021. Before his death, Berger persuaded him to pivot from funding land restoration projects to impact investing.

Betty Pettine, director of philanthropic consulting for the Callan Family Office, explains the nuances of engaging in the business of philanthropy.

The gift, disclosed in a filing Monday, doesn’t specify who received the 5.2 million shares, which were evenly split between newly converted Class A stock and Class C stock. They could be directed to charity,or given to other financial vehicles or trusts.

The tax impact of the philanthropic activities of family offices and private enterprises was recently the topic of a discussion by Mike Linter, Global Head of Private Enterprise Tax, Global Tax and Legal, KPMG International, and Greg Limb, Global Head of Family Office and Private Client, KPMG Int

The Citadel founder delivered the commencement address at Miami Dade College on Saturday, exhorting the Class of 2023 to invest in their community and saying there are "many problems to be addressed in our society."

The donation is Citadel founder’s largest ever to his alma mater — overall, Griffin has given a total of $500 million to the Ivy League school.