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 contributions

To date, Li Ka-shing 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
  • On 24 January 2021, the Li Ka Shing Foundation donated HK$20 million to support Precious Hospital (Caritas)’s Total Knee Replacement programme.[4][5]
  • In February, LKSF presented PARKnSHOP coupons worth of HK$200 to all 97,000 Hospital Authority staff to thank them for unwavering commitment and dedication protecting Hong Kong people;[6]a donation of HK$4.1 million was made to support for radiological examination at HKU Li Ka Shing Faculty of Medicine for patients with gastroenterology and liver diseases in Queen Mary Hospital. [7]
  • In October 2019, the Li Ka Shing Foundation created HK$1 billion Crunch Time Instant Relief Fund to help more than 28,000 small and medium sized enterprises in the food and beverage, retail, and travel sectors, as well as licensed hawkers to weather through hardship.[8][9]
  • In 2019 and 2020, the Li Ka Shing Foundation granted over HK$200 million in support of medical and welfare services for Hong Kong.  The “Love Can Help” Medical Assistance Programme offered financial assistance to patients falling outside the social security safety net and ineligible for government subsidies.  “Love Can Help II” expanded support to the social welfare community; non-governmental organiations providing various services to the visually impaired, mentally handicapped and physically disabled, autistic children, elderly and underprivileged families.[10][11]
  • In September 2020, Li Ka Shing Foundation has given HK$170 million to four local universities, including the medical faculties of the University of Hong Kong and the Chinese University of Hong Kong, the Hong Kong University of Science and Technology, and the Education University of Hong Kong in support of medical, biological and artificial intelligence research.[12]
  • 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.
  • In November 2020, donation of HK$5 million for the publication of Hong Kong Chronicles.[13]
  • 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)[14]
  • 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
  • In November 2020, HK$3 million emergency relief fund donated to relatives of the victims of Yau Ma Tei fire [15] and HK$1.5 million to celebrate the centenary of Hong Kong Chiu Chow Chamber of Commerce.[16]
  • 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)[17]
  • Providing US$2 million in funding scale socio-economic impact through technological disruption and innovation in Zhejiang and Shanghai—February 2019.[18]
  • 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
  • Two Li Ka Shing Chair Professors – Professor Michael Houghton at the University of Alberta and Professor Jennifer Doudna at the University of California, Berkeley – have been awarded the 2020 Nobel Prize in Medicine and Chemistry respectively. Mr Li Ka-shing attended virtual celebrations through Zoom, at which both professors presented to him replicas of their Nobel medals. After learning that Professor Houghton’s two co-investigators, Dr. Qui-Lim Choo and Dr. George Kuo, had shared in the discovery but had not been awarded the Nobel Prize, Mr Li announced that the Li Ka Shing Foundation would honor Dr Choo and Dr Kuo with the same Nobel prize money of US380,000 each to recognize their contributions. [19]
  • Sponsoring the Future Now excursion to Australia for an experimental education and exchange program—September 2019.[20]
  • 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.[21]
  • 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.[22]
  • 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.[23]
  • 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.[24]
  • In 2015, renewed support for Yale Stem Cell Center (YSCC) with a US$1.86 million grant for education and healthcare in 2015.[25]
  • 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.[26]
  • 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).[27]

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. "Li charity joins up with knee implants". The Standard. 25 January 2021.
  5. "Precious Blood Hospital (Caritas)".
  6. "Li says thanks to HA staff". The Standard. 4 February 2021.
  7. "HKU Medicine". 4 February 2021.
  8. "Li Ka Shing Foundation completes HK$1 billion donation scheme EJINSIGHT - ejinsight.com". EJINSIGHT. Retrieved 18 August 2020.
  9. "LI KA SHING FOUNDATION CREATES HK$1 BILLION CRUNCH TIME INSTANT RELIEF FUND INITIAL PHASE TO SUPPORT F&B INDUSTRY". Li Ka Shing Foundation.
  10. "Hong Kong tycoon Li Ka-shing to donate HK$101 million more amid pandemic". South China Morning Post. 30 July 2020. Retrieved 18 August 2020.
  11. ""LOVE CAN HELP II" LKSF NEW HK$100 MILLION GRANT IN SUPPORT OF MEDICAL AND WELFARE SERVICES FOR HK". Li Ka Shing Foundation.
  12. "Li Ka-shing grants HK$170m to four universities for bio-medical and AI tech projects". The Standard. 16 September 2020. Retrieved 16 September 2020.
  13. "Hong Kong Chronicles has been made possible with the generous contributions Lab". Hong Kong Chronicles Institutes.
  14. "Buddhist Art Museum To Open At Hong Kong's Tsz Shan Monastery". South China Morning Post. Retrieved 11 December 2019.
  15. "Li Ka Shing Foundation donates HK$3m to Yau Ma Tei fire victims". The Standard. 18 November 2020. Retrieved 18 November 2020.
  16. "Li Ka Shing Foundation Timeline". lksf.org. 18 November 2020.
  17. "Li Ka-shing Donates HK$118 Million To Shantou University". Hong Kong Tatler. Retrieved 11 December 2019.
  18. "Scaling Socio-Economic Impact Through Technological Disruption And Innovation". Li Ka Shing Foundation. Retrieved 11 December 2019.
  19. "Science Reshapes Human Destiny". Li Ka Shing Foundation. Retrieved 11 December 2020.
  20. "Foundation Sponsors 'Future Now' Excursion To Australia". Li Ka Shing Foundation. Retrieved 11 December 2019.
  21. "Saildrone is First to Circumnavigate Antarctica, in Search for Carbon Dioxide". NOAA. Retrieved 11 December 2019.
  22. "'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.
  23. "Building bridges across the Pacific". Channels. Retrieved 18 November 2018.
  24. "Li Ka Shing Gift Supports UCSF Quest for Precision Medicine". UC San Francisco. Retrieved 18 November 2018.
  25. "Li Ka Shing Foundation renews support for Yale Stem Cell Center". YaleNews. 26 February 2015. Retrieved 23 November 2018.
  26. "US$3m for precision oncology - GetSTEM". getstem.com.au. Retrieved 4 December 2018.
  27. "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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