October 2, 2008
One of the Nation's Biggest Grant Makers Founders in Wall Street Tumult
The near-collapse of the insurer American International Group is reverberating through the foundation and charity world.
The biggest casualty may be the Starr Foundation, which was worth roughly $3-billion only a year ago, and is ranked No. 16 in the Foundation Center's list of the largest foundations.
As of the end of 2006, the Starr Foundation held $2.8-billion worth of AIG stock — which accounted for more than 97 percent of its endowment, according to the
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