The American billionaire became Bournemouth owner in December 2022, before his Black Knight consortium completed a deal to secure a minority stake in French side Lorient.
Foley also secured a license last year to establish a new team in Auckland, New Zealand, which will compete in Australia's A-League from the beginning of the 2024-25 campaign.
A report in November claimed that the 77-year-old was looking to expand his portfolio by becoming a shareholder in Hibernian.
On Tuesday, Hibernian announced that the Black Knight Football Club had their investment proposal approved at the club's AGM.
Foley's minority investment was approved by the required 75% of shareholders despite the fact that the Hibernian Supporters Limited (HSL) announced their plans to vote against the proposal.
While the Gordon family remain the majority shareholders, their stake has now dropped from 67% to just over 60%.
Foley's £6m investment will enable Hibernian to improve the infrastructure at Easter Road and the club's training facilities as well as increase the first-team budget to help boost performance on the pitch.
The Scottish FA have also given their approval to the investment, with Foley allowed to reach a maximum shareholding of 29.9%.
Foley, who was not in attendance at the AGM, told the club's website: «We are excited to announce a strategic partnership and investment in Hibernian FC today (Tuesday). We look forward to partnering with the Gordon Family and other shareholders to accelerate the success of Hibernian FC and BKFC.
Following the approval, the Gordon Family said: „We are
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