STOCKHOLM, Sweden (CelebrityAccess) — After winning the prestigious Polar Music Prize last month, rock icons Metallica revealed that they plan to donate the monetary portion of the prize to three different charities.
“We are pleased to announce that @metallica has donated their 1 million Swedish Kronor prize money to three charities,” a spokesperson for the Polar Music Prize said in a post to the organization’s social media.
According to the Polar Music Prize, 50% of the monetary portion of the prize will go to Stockholm City Mission, an organization that assists homeless people in the city. 25% has been pledged to World Childhood Foundation, an organization created by Sweden’s Queen Silvia that works to prevent exploitation and abuse of vulnerable children. The remaining 25% of the reward will be given to the Afghanistan National Institute of Music, who was also presented with a Polar Music Prize this year.
1 Million Kroner is approximately $113,000 USD at the current rate of exchange.
The Polars were presented on June 14th by Sweden’s King Carl XVI Gustaf in a ceremony in Stockholm. Drummer Lars Ulrich and bassist Robert Trujillo accepted the prize on behalf of the band.