The Lyndhurst Foundation is one of Tennessee’s most prominent philanthropies. Decades after the death of its benefactor, who made his fortune bottling Coca-Cola, the philanthropy breathed new life into Chattanooga by helping establish the local aquarium, children’s museum, and public elementary schools. It contributed $5 million last year to education, health care, and other community initiatives. It also holds an indirect stake in the country’s most popular e-cigarette brand, Juul Labs Inc., which officials blame for creating a youth health epidemic.
Juul is a private company—its shares aren’t publicly traded. The foundation owns private shares through its investment in Tiger Global Management, a hedge fund. So do the Hillman Foundation, which supports a cancer center bearing its name in Pittsburgh, and the Community Foundation of Greater Chattanooga.