The Friedrich-August-von-Hayek-Stiftung was initiated in May 1999 on the occasion of the 100th birthday of Friedrich August von Hayek. The endowment is from Wüstenrot & Württembergische AG. Prof. Dr. Lüder Gerken chairs the Executive Board of the Friedrich-August-von-Hayek-Stiftung.
Aim of the foundation is to strengthen and promote the prerequisites of a liberal economic and social order, as conceived by Friedrich August von Hayek, on the national as well as the international level. To further this aim the foundation awards every other year two prizes: the Internationaler Preis der Friedrich-August-von-Hayek-Stiftung and the Publizistikpreis der Friedrich-August-von-Hayek-Stiftung.
Members of the Board of Trustees are Roman Herzog, Leszek Balcerowicz, Frits Bolkestein, Rolf Dahrendorf, Alexander Erdland, Lüder Gerken, Laurence Hayek, Otmar Issing, Jürgen Jeske and Hans Tietmeyer.