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Philanthropy

Chinese philanthropist couple slammed online for Harvard donation

July 25, 2014

A Chinese billionaire couple has been condemned on social media for not supporting tertiary education in their home country after creating a scholarship for disadvantaged students to study at elite institutions abroad.

Packer family’s $200m fund inspired by parents’ giving

July 24, 2014

The daughter of the late Australian media mogul Kerry Packer has said her parents were the inspiration behind an AU$200 million charitable fund, launched by the family this week.

The daughter of the late Australian media mogul Kerry Packer has said her parents were the inspiration behind an AU$200 million (€140 million) charitable fund, launched by the family this week.

Gretel Packer, head of the family’s foundation, announced the National Philanthropic Fund will distribute $20 million yearly for the next decade.

The charitable fund will distribute half its money to indigenous education and community welfare, with the remainder going towards the arts.

Many wealthy families feeling a lack of purpose

July 16, 2014

Many wealthy families living off their investments are returning to active business operations, impact investing or philanthropy, as they feel they lack of purpose, a new report says.

Many wealthy families living off their investments are returning to active business operations, impact investing or philanthropy, as they feel they lack of purpose, a new report says.

The meaning of wealth in the 21st century: unlocking the secrets of wealthy families, conducted by Withers and Scorpio Partnership, sought to find whether the wealthy are focused on wealth generation, preservation or the application of their wealth.

African family businesses beat other emerging markets for corporate governance

July 7, 2014

African family businesses have significantly outperformed those in the Middle East and Asia when it comes to good corporate governance, exclusive research conducted by Campden Wealth reveals, with 71.4% employing non-family key decision makers in executive positions.

In Asian and the Middle Eastern family businesses, non-family members account for only 18.2% and 22.2% of key decision-making executives respectively.

Family business roundup: Acciona, Pentland, Brunello Cucinelli and Antofagasta

June 30, 2014

KKR purchases a third of renewables firm Acciona, Pentland Group posts significant profits, Brunello Cucinelli protects the future of his family business and Antofagasta signs lucrative mining agreement.

Acciona

Spanish infrastructure giant Acciona has sold a 33% stake in its international renewable energy business, the firm said on Tuesday.

Philanthropy award honours impact investors over not-for-profits

June 19, 2014

Tech entrepreneurs Charly and Lisa Kleissner have become the first impact investors to win the coveted Grand Prix philanthropy award – an honour traditionally reserved for non-profit organisations.

Tech entrepreneurs Charly and Lisa Kleissner have become the first impact investors to win the coveted BNP Paribas Grand Prix philanthropy award – an honour traditionally reserved for non-profit organisations.

UK foundations increase giving despite drop in donations

May 6, 2014

The UK's largest charitable foundations increased their giving by 10% over the 18 months to March 2013, according to the Association of Charitable Foundations (ACF), despite falling public and corporate donations.

Foundation Giving Trends found charitable giving by foundations grew by £271 million to £2.4 billion, accounting for 14% of total private charitable giving, while income fell by approximately the same amount.

Weathering the storm: Disaster philanthropy

March 27, 2014

There’s little that kills as many so quickly as a natural disaster, and millions of people across the world dig deep when faced with so much suffering. Foundations have pockets deep enough to help, but might not know where to begin.

Australian business leader joins with Vatican to battle slavery

March 18, 2014

Mining billionaire Andrew Forrest, the chairman of Australian family business Fortescue Metals Group, has launched a global anti-slavery foundation at the Vatican in Rome.

Mining billionaire Andrew Forrest, the chairman of Australian family business Fortescue Metals Group, has launched a global anti-slavery foundation at the Vatican in Rome.

Forrest said he launched Global Freedom Network after his daughter Grace had volunteered at a Nepalese orphanage, only to find the children were being trafficked to the Middle East to be sex slaves.

Ikea uses flatpack furniture concept for philanthropic good

March 11, 2014

Flat pack housing, inspired by Ikea’s famous self-assembly furniture, is providing a more sturdy alternative to tents in refugee camps, according to an annual report released today by the family business’s philanthropic foundation.

According to the Ikea Foundation, the units can comfortably house five people, and are more secure and durable than the tents that are normally used, which need to be replaced about every six months.