The richest man in Asia is giving $130 million to the Technion to build a research center in China. Li Ka Shing, estimated to be worth some $31 billion – and, according to Forbes, the world’s eighth-richest man – is funding the joint project between the Technion and Shantou University, located in Guangdong Province.
The new center, to be called the Technion Guangdong Institute of Technology (TGIT), will be located on its own 330,000 square meter campus to be built by the local government, while the Li Ka Shing Foundation (LKSF) will fund projects and programs at the new center. LKSF is the main funding arm for Shantou, providing nearly all of the school’s HK$6 billion endowment. The $130 million gift for the joint Technion-Shantou project, meanwhile, constitutes the largest gift ever to the Technion, and one of the largest to any Israeli school.
Monday, September 30, 2013