Philanthropy

Nepal's First Billionaire Makes Forbes Asia's Heroes of Philanthropy list

Amisha Mehta Assistant Editor 28 August 2015

Nepal's First Billionaire Makes Forbes Asia's Heroes of Philanthropy list

Forbes Asia highlighted some of Asia-Pacific's most noteworthy givers, including the first Nepali billionaire and several IT tycoons in India.

Binod Chaudhary, Nepal's first billionaire, according to  Forbes, has become the first philanthropist from the country to make Forbes Asia's Heroes of Philanthropy list.

The chairman of Chaudhary Group, a conglomerate that comprises nearly 80 companies, has pledged $2.5 million through his CG Foundation for earthquake relief after the first earthquake hit the South Asian country in April.

The list, which includes philanthropists from 13 countries across Asia-Pacific, highlighted that social causes and education appear as the focus of philanthropists from China. Jack Ma, founder and executive chairman of Chinese e-commerce giant Alibaba, donated $2.9 billion in share options last year to social welfare causes and education, with another $2.4 billion going into a charitable trust. Meanwhile, billionaires Pan Shiyi and Zhang Xin of Soho China, a real estate firm, announced last year they will donate $100 million to fund overseas study by Chinese undergraduates at the world’s top universities.

Of note, India's tech boom over the last two decades, which has infiltrated the country's wealth management space, appeared to be driving its philanthropic efforts too. Several individuals from Infosys, the country’s second largest IT firm, featured on this year's list. These include Kris Gopalakrishnan, Nandan and Rohini Nilekani and Mohandas Pai, who donated to projects including medical research, education, children who live in poverty and care for the elderly.

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