Before it closes its doors in 2020, The Atlantic Philanthropies Foundation – established by American duty-free shopping mogul Chuck Feeney – has likely made one of its last donations in Australia. It’s pledged US$50 million ($65.76 million) to establish a university fellowship dedicated to tackling social inequity.

The federal government has also pledged $40 million to the program over its 20 year lifespan. The University of Melbourne, Queensland University of Technology, and New Zealand’s University of Auckland will educate the fellows and provide additional financial contributions. The program is called The Atlantic Fellows for Social Equity program.