Mastercard is primarily owned by the Mastercard Foundation, which owns 10.7% of the company’s stocks, followed by The Vanguard Group, 8.2%, and BlackRock, 6.8%. Mastercard generated over $22 billion in revenue in 2022 and over $9.9 billion in profits (net income).
How does Mastercard Foundation work?
The Mastercard Foundation was established in 2006 by Mastercard International and has since grown into one of the world’s largest foundations.
With approximately $4.4 billion commitments, the Foundation has partnered with various organizations to increase financial inclusion and access to youth learning in Africa, improving the lives of over 51 million people and their families.
The Foundation has marked several milestones since its inception. In 2011, it established the $500 million Mastercard Foundation Scholars Program to educate the next generation of ethical leaders.
In 2018, it launched the Young Africa Works strategy in Kigali, Rwanda, with the ambitious goal of enabling 30 million young people, particularly young women, to secure dignified and meaningful work.
In response to the COVID-19 pandemic, the Foundation launched the COVID-19 Recovery and Resilience Program in 2020.
This program aims to assist institutions and communities in Africa and within Indigenous communities in Canada to withstand and respond to the short-term impacts of the pandemic, while strengthening their resilience in the long run.
Its leadership team comprises:
- Reeta Roy: President and CEO
- Nathalie Gabala: Executive Director, Pan-African Programs
- Samuel Yalew Adela: Country Head, Ethiopia
- David Bagenda: Country Head, Kenya Programs
- Jennifer Brennan: Director, Canada Programs
- Adrian Bukenya: Country Head, Uganda Programs
- Rosy Fynn: Country Director, Ghana and Nigeria (acting) Programs
- Julie Gichuru: Chief Public Affairs and Communications Officer
- Daniel Hailu: Executive Director, Country Programs
- Serge-Auguste Kouakou: Country Head, Senegal Programs
- Peter Materu: Chief Program Officer
- Tina Muparadzi: Chief People and Culture Officer
- Wole Onabolu: General Counsel
- Rica Rwigamba: Country Head, Rwanda Programs
While its board of directors comprises:
- Zein M. Abdalla: Board Chair
- Baroness Valerie Amos, CH: Board Chair
- The Honourable Louise Arbour: Board Member
- Douglas Baillie: Board Member
- Craig Calhoun: Board Member
- Jennifer Fonstad: Board Member
- Jay Ireland: Board Member
- President Ellen Johnson Sirleaf: Board Member
- Michael Sabia: Board Member
- Robin Washington: Board Member
Its values are:
- Kindness and Respect.