Asia has its fair share of high-net-worth individuals—think Indian mega-mogul Mukesh Ambani, whose family just threw a wedding reportedly worth $600 million—yet the region’s wealthiest tend not to rely on mega-foundations for their charity work.
Instead, the company takes the lead in Asia. “There’s very little distinction between personal philanthropy and corporate philanthropy” in Asia, says Ruth Shapiro, co-founder of the Centre for Asian Philanthropy and Society (CAPS), a Hong Kong-based think tank. “There are no Ford, Gates, Rockefeller foundations here.” Corporate giving comes with its own set of perks: on-the-ground experience, existing distribution systems, and personal connections. “Companies want to fund where they’re operating,” Shapiro explains. “Why send it through another organization,” when companies can just do it themselves.
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