Background
The Li Ka Shing Foundation was created in 1980 by Hong Kong billionaire Li Ka Shing to coordinate and provide donations towards medical, educational, cultural and other community welfare projects in a systemic manner with a focus on Hong Kong and Mainland China.
To date, the Li Ka Shing Foundation has supported numerous charitable activities with grants, sponsorships and commitments of approximately HK $7.7 billion (approx. US $990 million). On Aug 24th 2006, Mr. Li Ka Shing announced that the Li Ka Shing Foundation would continue to make further donations to reach more than one-third of his personal wealth, valued at about HK $48 billion (approx. US $6.174 billion). Li Ka Shing has referred to the Foundation as his "third son" (he has two sons).
Read more about this topic: Li Ka Shing Foundation
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