A controlling interest in Orbis is held by Allan & Gill Gray Foundation, which has no owners in the traditional sense and is instead designed to exist in perpetuity and to serve two equally important purposes: (1) to promote the commercial success, continuity and independence of the Orbis and Allan Gray groups, and (2) to ensure that the distributable profits the Foundation receives from these firms are ultimately devoted exclusively to philanthropy.
Importantly, the Foundation does not directly manage Orbis or the Allan Gray groups, but rather vests control of the firms in Orbis Allan Gray Limited, a holding company whose board consists of a majority of present executives and includes non-executive directors. With perpetual ownership in strong hands, the management of Orbis can focus entirely on adding value for clients for generations to come. We believe our ability, as a firm and as individuals, to focus on the very long-term without the pressure to produce short-term results is an enduring competitive advantage in this industry.
We are associated with the Allan Gray Group (based in Cape Town, South Africa) and with Allan Gray Australia, both of which are also PRI signatories. All three companies share the same founder, investment approach, ethos and commitment to long-term wealth creation; they also share a common controlling shareholder in Allan & Gill Gray Foundation.