Our 17th annual list highlights 15 philanthropists who, over the past year, have shown commitment and donated generously to reasons close to their hearts. Each year, our team examines dozens of names, from veteran philanthropists to newcomers, to compile this list from the Asia-Pacific region.
Some billionaires continue to endow their philanthropic foundations with gigantic sums of cash to carry out their missions. Japan’s Takemitsu Takizaki donated 7. 45 million Keyence shares worth about 390 billion yen ($2. 6 billion) to his foundation, while Australians Andrew and Nicola Forrest donated roughly A$5 billion ($3. 3 billion) worth of Fortescue Metals Group shares to its philanthropic arm Minderoo Foundation.
Several Alsurists on the list have chosen to allocate their donations to the advancement of higher education and studies, specifically in the AI box. Midea Group founder He Xiangjian has pledged to donate 3 billion yuan ($410 million) to set up a funding clinic. Veteran philanthropist Li Ka-shing has donated HK$60 million ($7. 7 million) to the use of AI in medical education and studies at two universities in Hong Kong.
Demonstrating his continued commitment to education, Indonesian billionaire Low Tuck Kwong has donated S$101 million ($73 million) to the Lee Kuan Yew School of Public Policy, his eponymous foundation. It will be used to fund leadership systems for policy progress and public service.
Mental fitness was another focus. In Hong Kong, Adrian Cheng of New World Development has laid a foundation for children’s intellectual well-being, while Australian billionaire James Packer, who has personally battled intellectual fitness issues, has donated intellectual fitness studies at New South University. The newcomer to the list is India’s youngest billionaire, Nikhil Kamath, who has become the new signatory of the Giving Pledge.
The list, which is not classified, takes into account those who contribute capital with their own cash, not their company’s, unless it is personal and they are shareholders. majority – and who demonstrate their commitment to the reasons they have chosen.
Edited by Rana Wehbe Watson
Research and reports: Jonathan Burgos, Gloria Haraito, John Kang, Phisanu Phromochanya, Anuradha Raghunathan, Yessar Rosendar, James Simms, Yue Wang and Ardian Wibisono.
Illustrations by Florian Nicolle for Forbes Asia
In June, Andrew and Nicola Forrest donated around 20% of their stake in Fortescue Metals Group, worth an estimated A$5 billion ($3. 3 billion), to its philanthropic arm Minderoo Foundation. The move, made a month before the couple announced their separation, would be the largest donation in the country’s history and would have raised Mindeloo’s endowment to A$7. 6 billion.
The base supports children’s education, ending fashionable slavery, achieving job parity for indigenous Australians and protecting the world’s oceans, among other initiatives. “We all want to do what we can with what we have, so “I am pleased that these actions will accentuate our efforts to help those who need it most,” Nicola said in a Minderoo statement. Noting that contributions to family and society are more important than the accumulation of wealth, Andrew added: “That’s why we will continue to donate our wealth to reasons where we can make a lasting difference. “
In October, Minderoo pledged A$10 million for humanitarian assistance to civilians affected by the fighting in Gaza, and since February 2022, it has donated A$14 million to Ukraine to ensure the security of grain warehouses and generators, among other aid programs. The separation will not affect their shared business interests or foundation, they became the first Australians to sign the Giving Pledge in 2013.
Takemitsu Takizaki, the shy media founder of sensor maker Keyence, last year donated 7. 45 million shares worth about 390 billion yen ($2. 6 billion) to his Keyence Foundation to fund scholarships for college students in financial need. This follows the billionaire’s donation of 3. 65 million shares. In 2020, it had a market price of around 164 billion yen.
Established in 2018, the base gives Japanese and foreign university students who begin their university studies in Japan 100,000 yen per month for four years. It selects approximately six hundred recipients each year based on their educational attainment, monetary need, and a dissertation. Another scholarship for enrolled undergraduates awards a grant of ¥300,000 each to 2,000 students per year, regardless of financial need. “Support for young people attending university has not been enough, despite increased government aid with “There are no conditions for repayment,” Takizaki said in a message posted on the Foundation’s website. “After launching this scholarship program, I have once again become aware of the countless number of scholars who are diligently running to achieve their firmly entrenched dreams and goals. “
Takizaki, who produced commercial automation sensors in 1972 at the age of 26, is one of the few founders of a major Japanese company who did not attend college. He remains a member of the board of directors and is honorary president after stepping down as president. in 2015.
He Xiangjian, founder of Shenzhen-listed home appliance maker Midea, announced at a government forum in May that he would donate 3 billion yuan ($410 million) to set up a fund for clinical trials in China. Overseen through Fang Hongbo, CEO of Midea Group, the He Science Foundation will help scientists working in areas such as artificial intelligence, climate updating, and healthcare. While the billionaire didn’t announce further details, he said in May that he hoped more young people would be encouraged to pursue innovation. and studies in complex technologies, key spaces that the Chinese government seeks to turn into engines of expansion to compensate for the slowdown in the economy.
The octogenarian, whose net worth is estimated at $21. 7 billion, has a long history of philanthropic giving. In 2013, he created a private foundation for education, care of the elderly and the fight against poverty. Through donations of money and one hundred million Midea shares transferred in 2017, which had a market price of 4. 3 billion yuan at the time, the He Foundation has since donated 2. 2 billion yuan to various causes, according to its site Web. Among them is the Hetai Senior Center, which last year began offering care and rehabilitation facilities for seniors in Shunde, He’s hometown.
Vikrom Kromadit, founder and chairman of Bangkok-listed shopping zone operator Amata Corp. , said he celebrated his 70th birthday in March by signing a will declaring that he would donate 99 percent of his private assets, estimated to be worth in billions of baht. , adding 7. 5 billion baht ($214 million) in Amata shares (after his death) to the Amata Foundation. In the past he had donated more than 2 billion baht in assets to the base he established in 1996.
The base awards educational merit scholarships for top-tier schools and school systems to scholars from low-income families. It also provides grants to promote Thai art and literature. In a castle in Vikrom built on a commercial domain southeast of Bangkok, the basis is the construction of a museum and art exhibition hall, which is expected to be completed in 3 years.
“My inspiration was the difficult stories of my childhood,” Vikrom says via email. “We were born from scratch and we will go through zero. Between the zeros, we create useful and valuable things to share with society and that will last forever. “. Vikrom owns more than a quarter of Amata Corp. , which owns retail parks covering more than 6,000 hectares in Thailand and Vietnam.
DLF chairman emeritus K. P. Singh in August sold his remaining stake in the Delhi-based asset developer to fund philanthropic causes, according to the company. It raised 7. 3 billion rupees ($89 million) by selling its 0. 59% stake in DLF. K. P. Singh Foundation Trust and K. P. Singh Charitable Foundation Trust, Singh introduced the KP Singh Foundation in 2020, which states on its social media profile that “it is the embodiment of Mr. Singh’s unwavering commitment. Singh will bring a lasting and transformative replacement to India. “
The nonagenarian, who splits his time between London and Dubai, stepped down as president of DLF in 2020. He has been with DLF since 1961, when he joined the company founded through its expiration in 1946. Singh, who has an estimated net worth of $14 billion, presided over DLF for several decades, making it a real estate giant. He is best known for transforming Gurgaon (now called Gurugram), a village on the outskirts of Delhi, into a high-tech city with a world-class office. Buildings that house primary technology, telecommunications, customer, and monetary companies.
In February, Low Tuck Kwong donated S$101 million ($73 million) to the National University of Singapore’s Lee Kuan Yew School of Public Policy, the largest donation ever made to the institute. The donation, made through the Low Tuck Kwong Foundation, will be used to fund leadership systems for public policy and services.
The goal is to teach officials across the region and the school’s academics how to “build meaningful collaboration between Singapore, Indonesia and the rest of Asia,” Elaine Low, Low’s daughter and president of the base, said in announcing the donation. She graduated from the school in 2014 with a master’s degree in public policy. We hope this will lead to practical responses to solve the disruptions and lives of Singaporeans and our neighbours. ” The foundation was established last year and focuses on education, physical care and medical research, as well as social networking and welfare.
Low, founder of Indonesia-listed coal mining company Bayan Resources, has a net worth of $27. 2 billion. In 2021, he donated 50 billion rupiah ($3. 2 million) as a scholarship fund for the University of Indonesia. Low also runs a personal zoo in East Kalimantan to care for wild animals trapped near the company’s mines.
Kwek Leng Beng and his real estate company, City Developments, announced a joint donation of S$24 million ($17. 8 million) to the Singapore Institute of Technology (SIT) in November with the publication of his biography: Strictly Business: The Kwek Leng Beng Story. Together with a matching government grant, the total donation amounts to S$60 million and will fund the structure of the university’s administrative building, which will be called the Kwek Leng Beng University Tower, on its long-term campus in Punggol Township, northeastern Singapore. . .
“Through this donation from SIT, I am privileged to play a role in nurturing generations of long-term skills and professionals for Singapore, especially in the hospitality sector,” said Kwek, executive chairman of City Developments and its majority shareholder. , in a revealing donation. The billionaire separately contributed S$720,000 earlier this year in scholarships for university students reading about the hospitality sector at SIT.
Kwek’s fondness for hotels began fifty years ago when he built the company’s first hotel, the King’s Hotel, renamed the Copthorne King’s Hotel, near the Singapore River on Havelock Road. Since then, City Developments has grown into one of Asia’s largest hotel operators with a network of more than 155 hotels and owns iconic workplace buildings such as the Republic Plaza skyscraper in Singapore’s central business district. It is the largest developer in the city-state in terms of revenue.
Ramon Ang, majority shareholder of San Miguel Corp. (SMC) and a self-made billionaire, pledged 500 million pesos ($9 million) this year to build schools for disadvantaged youth in Manila. Ang announced the donation in September when he opened a 39-classroom school in Tondo, one of the poorest neighborhoods in the city where he grew up. “I am firmly convinced that offering a broad diversity of educated and skilled Filipinos is imperative to unlocking the country’s potential,” the vice president said via text message. “This includes not only young people but also adults from less privileged spaces who are looking for better jobs or need to start their own businesses. “
Ang, whose net worth is estimated at $3. 4 billion, has transformed the country’s largest beer and food maker into a diversified conglomerate with interests in banking, energy, electric utilities and toll roads. Since 2020, Ang, through his RSA Foundation, has personally contributed more than P150 million in scholarships and medical aid. Additionally, SMC’s San Miguel Foundation has spent more than P1 billion to build five schools in Metro Manila, while donating P14. 8 billion to aid Covid-19 pandemic relief measures and set aside Another 3 billion pesos to help clean the city’s rivers.
In September, Li Ka-shing, Hong Kong’s richest person, donated a total of 60 million Hong Kong dollars ($7. 7 million) through his Li Ka Shing Foundation to two universities to help with the use of AI in medical education. The Chinese University of Hong Kong (CUHK) and the University of Hong Kong (HKU), which run the city’s two medical schools, each earned HK$30 million. Schools will use the budget to train academics in AI-related technologies, expand educational tools, and expand AI programs in medical imaging and robotic surgery, among other areas. “AI is transforming the world,” Li said in a statement released through CUHK and HKU. She suggested using generation in a meaningful way to expand new therapies and treatments.
Li, nicknamed Superman in Hong Kong for his business acumen, made his fortune in real estate, retail, ports, infrastructure and telecommunications. He was also an early investor in tech corporations such as Facebook (Meta), Spotify, and Zoom. Whoever invests in generation will feel younger,” he told Forbes in 2012. He also predicted that one of the most significant effects of AI would occur in education, with unpublicized learning “closely linked” to private devices such as laptops and smartphones.
The nonagenarian introduced his foundation in 1980 and has since distributed more than HK$30 billion, with most of the budget going to education and health. HKU renamed its medical center in honor of the billionaire following a $1 billion donation from Hong Kong in 2005.
Indian billionaire Nandan Nilekani, co-founder of tech giant Infosys, donated 3. 2 billion rupees ($38 million) to his alma mater IIT Mumbai in June, to mark his 50-year partnership with the Institute of Technology, where he studied electrical engineering as an undergraduate. The donation, which will be made over five years, will serve as a base contribution to help attract more donations to the institute, he said.
“This donation is more than just a monetary contribution; it’s a tribute to the position that has given me so much and a commitment to the scholars who will shape our global tomorrow,” Nilekani said at the signing of the MoU in June. A month later, IIT Bombay named the residential building as the Nandan Nilekani Main Building in honor of his contribution.
Nilekani, whose net worth is estimated at $2. 9 billion thanks to his stake in Infosys, the IT company he helped launch in 1981, has donated a total of Rs 4 billion to the institute since 1999. Last year, it donated an additional $1. 6 billion to educational causes. Of this amount, Rs 996 crore will be donated to the EkStep Foundation, an educational initiative founded in Bangalore that he chairs. A further Rs 66 crore has been paid to AIfourBharat, a research lab at IIT Madras that develops open-source resources for Indian languages. . Nilekani and his wife, Rohini, signed the Giving Pledge in 2017.
Australian billionaire James Packer and the Packer Family Foundation have donated 7 million Australian dollars ($4. 5 million) to support intellectual aptitude studies at UNSW Sydney. The money will be used to create a professorship and a research team that will examine intellectual aptitude disorders, such as bipolar disease. “It’s no secret that I have suffered intellectual aptitude problems in the past,” Packer said when the donation was announced in May. “I am a strong advocate of finding tactics to improve intellectual fitness outcomes and I hope that my contribution to these studies will generate positive results in this area and, in doing so, will especially improve the lives of others suffering from intellectual fitness problems in and around Australia around the world.
Packer resigned from the board of Australia-based Crown Resorts in March 2018 due to fitness issues and resigned a few months ago from the board of his family’s investment company, Consolidated Press Holdings. He remained the majority shareholder in the casino empire. He succeeded his late father Kerry Packer until last year, when US personal equity giant Blackstone Group acquired Crown for A$8. 9 billion. In 2014, Packer and his sister Gretel pledged 100 million Australian dollars from his family and 100 million Australian dollars. from Crown’s philanthropic arm for ten years to arts organisations, Indigenous education and other networking initiatives.
New Zealand’s richest man, Graeme Hart, and his wife, Robyn (pictured right), donated NZ$6. 5 million ($3. 8 million) in June to help expand the paediatric intensive care unit at Starship Children’s Hospital in Auckland. Starship, the nation’s largest children’s hospital, said it was one of the largest personal donations it has earned since it opened 32 years ago. The cash will be used for wards and apparatus for critically ill youth, as well as to assist in staff education and training. This is the family’s newest gift, longtime supporters of the hospital, and their daughter Gretchen Hawkesby served on the board of trustees of the Starship Foundation for more than 12 years.
In 2018, Hart and his wife donated NZ$10 million to the University of Otago to help fund a new NZ$28. 2 million dental school in South Auckland, which would also provide available and affordable dental care to the community. It is the largest donation in its nearly 150-year history.
Hart, who left school as a teenager, owns the Rank Group packaging empire, which makes products such as milk cartons, water bottles, paper and paper. ‘aluminum. The shy media mogul has an estimated net worth of $8. 8 billion.
For more than a decade, media mogul Eddy Kusnadi Sariaatmadja has largely focused his philanthropic paintings on correcting visual impairments in Indonesia, a country with one of the highest rates of blindness in the world. His Karya Alpha Omega Foundation provides free cataract surgeries to thousands of Indonesians each year, as well as hernia and cleft lip repair.
This year, he pledged 62 billion rupees ($4 million) to build a factory to make synthetic lenses surgically implanted to repair the vision of cataract patients. The facility will produce 5,000 pairs of glasses each year that will be donated to patients treated through Karya. The Alpha Foundation’s program Omega. La base also replaced ophthalmic appliances valued at approximately Rs 4. 8 billion at RSCM Kirana, a Jakarta hospital. This included ophthalmic lasers and a pediatric retinal camera used to treat optic nerve disorders and eye tumors in children, according to Mutmainah, director of RSCM Kirana’s eye fitness center, who, like many Indonesians, goes by a single name.
“I saw that when patients opened their eyes after cataract surgery at RSCM Hospital, they could just look at their grandchildren and take care of them. Their children would be able to paint again, which would strengthen their lifestyle. “Imagine how much the quality of life for Indonesians could be improved if the problem of cataract blindness were solved. Since its inception in 2010, the Karya Alpha Omega Foundation has performed free cataract surgeries on around 20,000 patients. , hernia surgeries to more than 1,000 patients and approximately 400 cleft lip surgeries, as well as free medical treatments to approximately 300,000 patients throughout Indonesia.
Syumarti, an ophthalmologist who helped the foundation organize cataract surgeries in West Java, says Sariaatmadja has made a significant contribution to the fight against blindness. “For ophthalmologists, budget is one of the limitations of cataract surgery,” Syumarti says. Beyond two years, the Karya Alpha Omega Foundation has also donated more than Rs 10 billion for projects such as basic food distribution, children’s fitness counselling and crisis reaction training. Last year, it donated 4. 8 billion rupees worth of medical devices to the Cicendo eye clinic in Garut, West Java.
Sariaatmadja co-founded Emtek, the exclusive distributor of Compaq computers in Indonesia, in 1983, and currently controls four Indonesian television channels: SCTV, Indosiar, MOJI and Mentari TV. From 2018 to 2022, Sariaatmadja also donated a total of Rp10 billion to the Bandung Institute of Technology Endowment Fund (in the past he had served on its board of directors as an honorary member). In gratitude, the institute changed the name of its study and network services center to the Eddy Sariaatmadja Building.
India’s youngest billionaire, Nikhil Kamath, joined the Giving Pledge in June, becoming the country’s fourth signatory. In his letter of commitment, the 37-year-old co-founder of online reduction runner Zerodha wrote that he was interested in climate change, energy, education and fitness, as well as the foundation’s project to create a more equitable society. Inequality is a byproduct of capitalism,” he says over the phone. I’m not saying that capitalism is bad or that inequality will never exist, but my purpose is to give other people the opportunity to fight inequality. Kamath, whose net worth is estimated at $1. 1 billion, follows Indian tycoons, Wipro founder Azim Premji (2013), Biocon founder Kiran Mazumdar-Shaw (2016), and Infosys. co-founder Nandan Nilekani and his wife Rohini (2017), upon joining the global initiative.
At home, Kamath’s YouTube podcast series, “WTF is,” distributes up to 10 million rupees ($120,000) (donated through Kamath and business leaders invited to its exhibition) to a charity selected from members of the public. Launched in July, the beneficiaries come with two Bangalore-based organizations, one supporting schooling in the early years of training and the other intellectual health. Kamath says he plans to increase episode donations to Rs 40 crore.
Adrian Cheng, executive vice president and CEO of asset developer New World Development, launched his WEMP Foundation in 2021, which claims to be Hong Kong’s first non-profit organization committed to the intellectual fitness of disadvantaged youth. According to the foundation. Children’s intellectual fitness “is a cause that is very close to my heart,” the eldest son of New World Development President Henry Cheng said in an email. “People have a tendency to communicate about physical abuse, but they don’t communicate about intellectual abuse, especially in young people, and how that can lead to disorders in adulthood. “
WEMP, which stands for Wellness, Emotional Intelligence, Mental Health, and Parenting, hosts seminars and workshops aimed at helping children better express their emotions and training parents in positive parenting skills. “My goal is to disrupt the classic style of philanthropy and have a direct impact. “So when we create a culture and society that values intellectual well-being, where other people can be better informed, function better, build better relationships, and make one more contribution to society, we can lay the foundation for a harmonious community. “