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Asian American business leaders launch US$250m effort to combat anti-Asian hate | Malay Mail

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NEW YORK, May 3 — Business leaders launched a five-year, US$250 million drive today to support the causes of Asian-Americans and Pacific Islanders, vowing to set up a national infrastructure for a community targeted by a rising number of racial attacks. The Asian American Foundation will invest...

Monday, 03 May 2021 09:13 PM MYT

The foundation’s board, which has committed US$125 million, is chaired by Li Lu, founder of hedge fund Himalaya Capital, and includes several prominent AAPI business leaders including billionaires Jerry Yang, the co-founder of Yahoo, and Joseph Tsai, co-founder of Alibaba Group Holding. The organisation means to fill in gaps that have long constrained AAPI community organisations, which receive less than 0.5 per cent of charitable foundation-giving even though Asian Americans represent about 6 per cent of the US population.

An Atlanta-area mass shooting in March, which included six women of Asian descent among the eight dead, further galvanised national advocates. The group will support organisations that combat hate; help create school curricula that reflect the AAPI community’s historical contribution to the United States; finance efforts in the arts, film and media to ensure the Asian-American experience is included; and invest in data-driven research to produce better policymaking and advocacy.

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