4 Filipinos make it to Forbes' Philanthropy list

Four Filipinos have made it to the latest Forbes Asia "48 Heroes of Philanthropy" list in the Asia Pacific Region. The four, named in the June issue of Forbes Asia are John L. Gokongwei Jr., Henry Sy Sr., Joel S. Cruz, and Felino "Jun" A. Palafox Jr.

 

Filipino-Chinese business tycoon Henry Sy Sr. Source: http://ph.news.yahoo.com/4-filipinos-forbes-philanthropy-list-174430818.html

John L. Gokongwei Jr. 85, chairs one of the country's most well-endowed foundations, the Gokongwei Brothers Foundation, launched in 1992 with his 3 brothers. He gave it half his JG Summit shares in 2006, a donation now worth more than $1 billion after a 4-year bull run on the stock. The foundation is the conglomerate's largest shareholder, with a 29.4% stake worth $2.3 billion.

Disbursements are funded out of company dividends and focuses on education, such as a $6 million gift made over the past 2 years to De La Salle University's College of Engineering, now renamed the Gokongwei College of Engineering. Money goes to scholarships, faculty development, facilities and research.

Henry Sy, Sr. 88, the Philippines' richest person continues to disburse chunks of his fortune. Last year he gave $7 million to De La Salle University to help build the Henry Sy Sr. Hall as part of the school's revamp for its 100th anniversary. The 14-floor, eco-friendly building is based on the concept of a tree that can be inhabited. In December, he donated $112 million to an unnamed foundation.

Joel S. Cruz 48, Founder and CEO, Central Affirmative Co., focuses most of his donations on helping children and teenagers who are abandoned, troubled or sick, as well as the elderly and disabled. Each year his company-the manufacturer of Aficionado Germany, the country's leading mass-market perfume brand-celebrates its anniversary by giving cash to charities and paying employees to volunteer for a day. Nicknamed the "Lord of Scents," he plans to launch the Joel S. Cruz Aficionado Foundation in the next year.

Felino "Jun" A. Palafox Jr. 63, Founder and Managing Partner, Palafox Associates. His internationally recognized architecture and urban design firm donates its services for the design of low-income housing developments.

One 12-hectare project was for the Smokey Mountain dumpsite community in Manila. A former Catholic seminary student, he gives money to a program helping needy churches and in the last 5 years, his firm has done pro bono architectural and interior design or master planning for 6 church-related projects.

The latest annual Heroes of Philanthropy list, highlights 48 of the Asia-Pacific region's most remarkable givers. The list pays tribute to honorees - four from each of 12 Asia Pacific countries - who are making their mark in philanthropy in innovative ways.

John Koppisch, Senior Editor, Forbes Asia, said: "The selections are subjective and we aimed for a mix of notable people and causes. We also try to identify new philanthropists each year and pick only true philanthropists who are giving their own money, not their company's because donating shareholder funds isn't charity. By calling attention to these charitable souls, we hope to encourage more giving."

Among the most notable givers is Kiran Mazumdar-Shaw, biotech entrepreneur and founder of Biocon. The subject of this issue's cover story, Shaw began a massive push to modernize cancer care in India after losing a friend to the disease. Empowered by her healthcare fortune, Shaw's efforts to combat cancer are closely connected to her desire to make healthcare affordable for the country's rural poor.

As with every year, the Heroes of Philanthropy list has highlighted altruists who have focused on important causes such as promoting education, alleviating poverty, supporting the arts and medical research. Some have embarked on endeavors to fund new departments at universities, launch campaigns to improve living conditions for the needy or boost a city's library system. Others are billionaires who have built wealthy foundations and famous singers and actors who are using their star power to do good. All are leaving the region a powerful legacy.

Source: ph.news.yahoo.com