Weight-Loss Drug Craze Boosts $80 Billion Lilly Endowment to Largest in US
The endowment started by the founding family of drugmaker Eli Lilly saw its assets surge to $80 billion at the end of 2024, passing Bill Gates’ foundation for the top spot.
Eli Lilly & Co.’s stock soared after the company’s drug Mounjaro was approved by the US Food and Drug Administration.
Photographer: Montinique Monroe/BloombergThe success of Eli Lilly & Co.'s weight-loss and diabetes drugs has pushed the company's stock to new heights, helping the founding family's endowment become the largest private foundation in the US.
At the end of 2024, the Lilly Endowment had $79.9 billion in assets, according to filings released Friday. That’s about a 29% jump from a year earlier, topping the $77.2 billion of the Gates Foundation, which had held the top spot for several years. The asset growth means the endowment will have to give away nearly $3.6 billion in 2025, up from $2.3 billion in actual charitable disbursements last year.