Asian-American Business Leaders Launch $250M Effort To Fight Hate
How do you feel about the initiative?
by Causes | 5.4.21
What's the story?
- Asian-American business leaders have launched a foundation to challenge anti-Asian discrimination amidst an increasing number of racial attacks against the community.
- The Asian American Foundation raised $125 million from its board members to support Asian American and Pacific Islander (AAPI) organizations. It also raised another $125 million from organizations like Walmart, Coca-Cola, Amazon.com, the Ford Foundation, Bank of America, and the NBA.
- The foundation plans to focus on three areas:
- Supporting organizations and leaders who are measuring and challenging violence against Asian American and Pacific Islanders
- Developing a data standard that tracks violence and hate incidents
- Helping to create K-12 and college curriculums that “reflect the history of Asian American and Pacific Islanders as part of the American story.”
- The foundation is chaired by Li Lu, founder of hedge fund Himalaya Capital, and includes billionaires Jerry Yang, the co-founder of Yahoo, Joseph Tsai, co-founder of Alibaba Group Holding, and Peng Zhao, CEO of financial services firm Citadel Securities.
- AAPI communities “need systemic change to ensure we are better supported, represented, and celebrated across all aspects of American life,” said the foundation's President Sonal Shah, who previously served as a deputy assistant to former President Barack Obama.
- She added:
The foundation ”plans to spark that systemic change and help fundamentally transform AAPI empowerment and support well into the future.”
- The announcement coincides with Asian American Heritage month.
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