Li Ka Shing Foundation

Li Ka Shing Foundation (Chinese: 李嘉誠基金會) is a Hong Kong-based charitable organization founded in 1980 by Hong Kong entrepreneur Li Ka-shing. It is reported in 2015 the foundation is the second largest private foundation led by a wealthy individual in the world, after Bill & Melinda Gates Foundation.[1]

Li Ka Shing Foundation
AbbreviationLKSF
Founded1980 (1980)
FounderLi Ka-shing
TypeCharitable trust
Focus
  • Education
  • Healthcare
HeadquartersHong Kong
Area served
Global
Websitewww.lksf.org

The Third Son

Li Ka-shing considers the Li Ka Shing Foundation to be his "third son" and has pledged to donate one-third of his assets to support philanthropic projects. He has called for other Asian entrepreneurs to do the same, in the hope of altering the traditional notion of passing wealth through lineage.[2]

The Li Ka Shing Foundation's story stretches back over three decades: Having grown up as a witness to suffering and illness, Li Ka-shing cultivated a compassion that set in motion the idea of establishing a charitable foundation.

Mission

Li Ka Shing Foundation supports projects that promote social progress through expanding access to quality education and medical services and research, encouraging cultural diversity and community involvement.

Every project and every donation stems from Li Ka-shing's belief in the inherent value of each human life, regardless of race, class, or circumstance. He has devoted himself to helping others overcome the educational and physical barriers preventing them from achieving their potential.

Three main focuses
  • Encourage giving to nurture a new culture of philanthropy in Asia
  • Support educational reform to create a paradigm shift that develops positive and sustainable change
  • Support medical research and services to create a healthier world

Major contribution

To date, Mr. Li has granted over HK$27 billion in charitable donations, approximately 80% in support of education reform initiatives and medical services in Greater China region.[3]

Hong Kong:

  • In 2020, the Li Ka Shing Foundation has supported the global fight against COVID-19 by sourcing protection gear from around the world and funding medical research and services. To date, HK$180 million has been used for relief efforts, including making a donation of HK$100 million to support the frontline medics in Wuhan.
  • Creating HK$1 billion Crunch Time Instant Relief Fund to support embattled SMEs in Hong Kong impacted by the economic downturn—October 2019.[4]
  • The establishment of the Institute for Synthetic Biology at the Hong Kong University of Science and Technology with a HK$500 million donation—August 2019.[5]
  • Opening of the Tsz Shan Monastery Buddhist Art Museum at the Tsz Shan Monastery, which has received over HK$3 billion in funding since 2003 for its development and operations—March 2019. (Long-term project)[6]
  • Donation of HK$1 billion to Faculty of Medicine of the University of Hong Kong announced in 2005.
  • "Love HK Your Way!" campaign launched in 2010, granted over HK$300 million as of September 2013. Thousands of social institutions were involved serving more than 3.3 million people. Major projects include:
    • Love Ideas, Love HK (total 3 rounds)
    • “Heart of Gold” – Hong Kong Hospice Service Program (10 service centers established)
    • Love More
    • TrueBeam System donated to the Faculty of Medicine of the Chinese University of Hong Kong & Prince of Wales Hospital
    • March of Social Engineers
  • Establishing Tsz Shan Monastery in 2013 to promote Buddhism.

Mainland China:

  • Committing grants and contributions of over HK$12 billion to Shantou University and the Shantou University Medical College since its founding in 1981. Recent commitments include RMB 100 million annually to offer full-tuition academic scholarships for all undergraduate students starting with the incoming class of 2019—June 2019. (Long-term project)[7]
  • Providing US$2 million in funding scale socio-economic impact through technological disruption and innovation in Zhejiang and Shanghai—February 2019.[8]
  • Annual Funding of RMB 52 million to support the Heart of Gold Nationwide Hospice Service Program, with has received over RMB 800 million in aggregate funding since 2001. (Long-term project)
  • Initiated Hospice Service by Shantou Medical College in 1997 and extended to nationwide in 2002. To date, 32 Hospice Service centers are established.
  • In 2002, the Cheung Kong Graduate School of Business was established to educate new generation of entrepreneur leaders.
  • In 2008, Project New Life for cleft lip and palate surgeries started.
  • In 2009, Pediatric Hernia Rehabilitation Program in Western China started.
  • In 2010, Project Define – Rural women development was run to enhance women's leadership.
  • In 2012, Love Ideas – Women's Project Guangdong started.

Overseas:

  • Sponsoring the Future Now excursion to Australia for an experimental education and exchange program—September 2019. [9]
  • Contributing US$1 million to support Saildrone's Antarctic circumnavigation, while making the real-time data available to students for next-gen ocean research—January 2019.[10]
  • A$4.5 million to the University of Sydney to support Australia's first clinical trial testing CAR T-cell immunotherapy in patients with advanced pancreatic cancer—November 2018. [11]
  • Supported the establishment of Institute of Virology of University of Alberta in Canada in 2009.
  • Established the Center for Learning of Stanford University in the US in 2008.
  • Center for Biomedical and Health Sciences of UC Berkeley in the US opened in 2011.
  • Oxford University "Big Data" Conference was established in 2013.
  • In 2013, sponsored US$130 million to create The Technion Guangdong Institute of Technology with the cooperation between Technion – Israel Institute of Technology and Shantou University. The new institute aims to bring a new era of research and innovation in science, engineering, and life science in China.
  • In 2013, granted a C$6.6 million donation for student and faculty exchanges between McGill University and Shantou University in China.[12]
  • Offered a grant of $2 million to University of California San Francisco (UCSF) to advance precision medicine and create a partnership between UCSF and Shantou University, also in 2013.[13]
  • In 2015, renewed support for Yale Stem Cell Center (YSCC) with a US$1.86 million grant for education and healthcare in 2015.[14]
  • Donated total HK$27.6 million to the University of Auckland Campaign For All Our Futures in 2016.
  • Donated  US$3 million for cancer research & precision oncology to the University of Melbourne Centre for Cancer Research (UMCCR) in 2017.[15]
  • Established The Li Ka Shing Foundation Lord Sandberg Memorial Scholarship for Hong Kong students in memory of Lord Michael Sandberg of Passfield in King's College London (United Kingdom).[16]

References
  1. "Gates and Li Ka Shing Top List of Big Foundations Created by Wealthy People".
  2. "Autumn of the Tigers". Forbes. Retrieved 11 December 2019.
  3. "In face of criticism, Hong Kong Tycoon Li Ka-shing Says He's Getting Used To 'Punches'". Reuters. Retrieved 11 December 2019.
  4. "Hong Kong's Li Hands Out HK$1 Bln To Help SMEs". Asia Times. Retrieved 11 December 2019.
  5. "Tycoon Li Ka-shing Donates HK$500 Million to Hong Kong University of Science and Technology for New Synthetic Biology Research Lab". South China Morning Post. Retrieved 11 December 2019.
  6. "Buddhist Art Museum To Open At Hong Kong's Tsz Shan Monastery". South China Morning Post. Retrieved 11 December 2019.
  7. "Li Ka-shing Donates HK$118 Million To Shantou University". Hong Kong Tatler. Retrieved 11 December 2019.
  8. "Scaling Socio-Economic Impact Through Technological Disruption And Innovation". Li Ka Shing Foundation. Retrieved 11 December 2019.
  9. "Foundation Sponsors 'Future Now' Excursion To Australia". Li Ka Shing Foundation. Retrieved 11 December 2019.
  10. "Saildrone is First to Circumnavigate Antarctica, in Search for Carbon Dioxide". NOAA. Retrieved 11 December 2019.
  11. "'One Word For It – Hope': Hong Kong's Richest Man Donates $4.5m To Sydney Cancer Trial". The Sydney Morning Herald. Retrieved 11 December 2019.
  12. "Building bridges across the Pacific". Channels. Retrieved 18 November 2018.
  13. "Li Ka Shing Gift Supports UCSF Quest for Precision Medicine". UC San Francisco. Retrieved 18 November 2018.
  14. "Li Ka Shing Foundation renews support for Yale Stem Cell Center". YaleNews. 26 February 2015. Retrieved 23 November 2018.
  15. "US$3m for precision oncology - GetSTEM". getstem.com.au. Retrieved 4 December 2018.
  16. "Li Ka Shing Foundation Lord Sandberg Memorial Scholarship 2019-20 | King's College London". www.kcl.ac.uk. Retrieved 18 December 2018.
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