Hong Kong's Richest Donates $4.6 Million

Forbes

Hong Kong's richest person is again donating part of his wealth to worthy causes selected by the public. Billionaire Li Ka-shing awarded 36 million Hong Kong dollars ($4.6 million) to fund several hundred community projects on Thursday, as part of his "Love Ideas, Love HK" program.

The Li Ka Shing Foundation (LKSF), chaired by Li, donated 34 million Hong Kong dollars ($4.4 million) to 230 projects selected by 376,000 members of the public through online and telephone voting.

An additional 2.3 million Hong Kong dollars ($295,000) was awarded to 20 other ventures picked by Li himself.

The projects cover a wide range of organizations and individuals from medical care for diabetic and renal patients to social services for single parents and ethnic minorities.

This is the second round of donations made by the LKSF under the program which was launched last year. A total of 28 million Hong Kong dollars ($3.6 million) was given to 181 charitable projects in 2010.

The chairman of Cheung Kong and Hutchison Whampoa is Hong Kong's richest and most generous businessman. His net worth was valued at $26 billion on the Forbes World's Billionaires list in March.

Over three decades ago, Li founded the LKSF which he often refers to as his "third son." He has already donated $1.6 billion to a variety of causes in Hong Kong, China, Canada and the U.S. (See: 48 Heroes of Philanthropy) In 2006, he announced that he would eventually give away one-third of his fortune.

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