Asian American business leaders pledge $250m to fight hate
The newly created Asian American Foundation will invest its initial funding in three key areas: anti-hate programmes, education, and data and research.
Prominent Asian American business leaders have launched a $250m initiative on Monday to support an array of Asian American and Pacific Islander causes, promising to create a national infrastructure for a community that has faced an increasing number of racial attacks.
The Asian American Foundation will invest its initial funding – described by organisers as the largest-ever philanthropic effort to support the AAPI community – in three key areas: anti-hate programmes, education, and data and research.
The foundation’s board, which has committed $125m over five years, is chaired by Li Lu, founder of hedge fund Himalaya Capital, and includes billionaires Jerry Yang, the co-founder of Yahoo, and Joseph Tsai, co-founder of Alibaba Group Holding, among other executives.