The A.Wilhelmsen Foundation was founded in 1999 in memory of the Awilhelmsen group founder Anders Wilhelmsen and his wife Aslaug Wilhelmsen. The foundation was founded by their sons Gjert and Arne Wilhelmsen. The board consists of five board members. 

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The foundation supports:

Socially beneficial work by providing direct support to research and education at Norwegian colleges and universities, particularly in economics, corporate governance and the maritime sector. The A. Wilhelmsen Foundation cooperates with BI and USN. (See the Universitys  Web Pages) The Foundation seldom provides support for education and further development purposes for individuals beyond the agreements we have with the colleges.

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Furthermore a Mariners Prize may be awarded to the person or institution who has made an special effort to promote and develope the maritime environment and maritime activities and development.