HEROES OF PHILANTHROPY

HEROES OF PHILANTHROPY

- GRACE CHUNG

Paving the Way

For our 14th annual philanthropy roundup, we sifted through dozens of candidates to compile a list of 15 altruists committed to issues facing the Asia-Pacific. Some of the biggest donors this year were tied to the Covid-19 pandemic. Several were prompted to build hospitals, provide protective equipment or fund medical research. Hong Kong’s Li Ka-shing, for example, channeled HK$250 million ($32 million) into various forms of aid through his foundation, including HK$100 million to communities in Wuhan—the epicenter of the outbreak in China. Fast Retailing chief Tadashi Yanai gave ¥11.2 billion ($105 million) to two universities in Japan, to facilitate research on diseases and to develop vaccines for the virus.

But pandemic relief wasn’t the only focus this year. Other honorees dedicated themselves to causes such as the arts and education. Vietnam’s richest man, Pham Nhat Vuong, donated $77 million alongside his charity to fund Covid-19 relief, as well as educational scholarships and healthcare programs around his country.

This year’s list encompasses entrepreneurs in the Asia-Pacific committed to causes in the region. Our goal is to capture individual philanthropists who are donating from their personal fortunes. Thus the list doesn’t include donations made by companies of Asia’s richest tycoons (unless the giving was made through a privately held company in which they are the majority owners). As in previous years, we don’t include fundraisers or heads of nonprofits, though they play a critical role. Forbes Asia narrows in on the names with the financial capital to put their stamp on issues of importance.

PHAM NHAT VUONG

Chairman, Vingroup