Chinese home appliance-maker’s founder tops the list of China’s top 100 philanthropists for the first time. He Xiangjian, founder of Midea Group Co., Ltd., donated 6.8 billion yuan (US$1.09 billion) to charity last year, topping for the first time the list of China’s top 100 philanthropists published by Beijing Normal University’s China Philanthropy Research Institute. According to the same report, the top 100 givers in China donated a total of 23.3 billion yuan (US$3.68 billion). In comparison, the top 50 givers in the United States donated US$12.2 billion to charity in 2016.
In the wake of the Hualien earthquake, donations from Taiwanese philanthropists pour in. Including those from ultra-high-net-worth philanthropists, total donations (as of February 8, 2018) to disaster relief funds for people affected by the earthquake in Hualien, Taiwan, is reported to have exceeded NT$600 million (US$20.42 million). List of notable companies and organizations includes: Hon Hai Precision Industry, Formosa Plastics Group, Lin Rung San Foundation of Culture and Social Welfare, Union Bank of Taiwan, Pegatron, and Fubon Financial Holding.
Prince Charles launches education impact bond for India. With the support of the British government’s Department for International Development, Comic Relief, the Mittal Foundation, the UBS Optimus Foundation, and philanthropists like Sir Ronald Cohen, the US$10 million Development Impact Bond (DIB) aspires to help improve education for over 200,000 children in India. The DIB is the largest bond of its type in South Asia and is the latest fundraising initiative by the British Asian Trust, which was set up by Prince Charles in 2007 to fight poverty in South Asia.
SK plans to launch research unit on social enterprises. In March, the South Korean conglomerate will establish and fund a nonprofit research foundation on issues relating to social enterprises. Chey Tae-won, Chairman of the SK Group, has been a longtime supporter of social enterprises in Korea.
Doctor and his healthcare charity win the The Straits Times Singaporean of the Year award. Dr. Goh Wei Leong and his team have been named The Straits Times Singaporean of the Year, an award organized by The Straits Times and sponsored by UBS Singapore. Dr. Goh co-founded HealthServe, a healthcare charity in Singapore that provides migrant workers with affordable healthcare and other social services.
Hyundai Motor supports the 2018 PyeongChang Winter Olympics by providing 4,100 vehicles and ₩50 billion (US$46.95 million) donation. On top of the logistical and financial contributions it has made to PyeongChang, Hyundai has been an active supporter of winter sports in Korea, developing upgraded bobsleighs and providing coaching staff for the country’s national team.
Grab and the International Federation of Red Cross and Red Crescent Societies (IFRC) join forces to raise funds for supporting vulnerable communities. Grab is Southeast Asia’s leading on-demand transportation and mobile payments platform, and its customers will now be able to convert GrabRewards loyalty points to a donation to the IFRC. Such partnership is the IFRC’s first fundraising initiative globally to use a smartphone application.
The Tata Trusts launches the “Social Alpha Energy Challenge” to find high-impact innovations that could catalyze system change in the field of energy. The challenge is managed and run by the Tata Trusts’ Foundation for Innovation and Social Entrepreneurship (FISE), which supports innovative, technology-based solutions for social impact. It specifically focuses on clean technology, sustainability, and energy efficiency and will select a maximum of 10 winners, whose ideas will receive incubation and other forms of support from the Tata Trusts.
Charity and volunteerism help fight aftermath of the Hualien earthquake in Taiwan. On top of the reported total of NT$600 million (US$20.42 million) in charitable donations, many are offering to help as volunteers utilizing their resources and skills. Hsu Tang-yu from Taichung, for example, showed up in Hualien to provide rescue workers with bowls of noodles from her mobile ramen cart, while a team of traditional Chinese medicine practitioners set up a station to treat rescue workers’ back pain and sore muscles.
A Hong Kong millionaire’s bribery case in Africa shows another incident where a donation and NGO status are abused as a bribery vehicle. Chi Ping Patrick Ho, former Hong Kong Home Affairs Secretary and founding chairman of an energy NGO registered in Hong Kong and the United States, was alleged to have drafted a letter to the President of Chad expressing a Chinese company’s desire to make a US$2 million “donation” to support “social and other programs as [the President] see[s] fit.” Ho’s bail application and request to be put under house arrest were rejected.