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One of the world's richest men is putting his money where his mouth is.
At least, that's the hope of the Sustainable Finance Initiative, a group that aims to encourage wealthy families in Asia and beyond to invest in causes that have a positive impact on the world around them.
At the group's second annual Asian Family Impact Summit in Hong Kong on May 22, 72-year-old aluminium tycoon Wang Jianlin is expected to announce the creation of a $1 billion fund to invest in green initiatives in his family's businesses, reports the South China Morning Post.
Wang, whose family's wealth is estimated at around $30 billion, is one of the world's richest men with a net worth of around $35 billion, according to Forbes.
He is the second-richest man in the world, after Bill Gates, with a net worth of around $35 billion, reports the New York Times, which notes that his wealth is twice that of the next-richest man in the world, Bill Gates, who has a net worth of around $22 billion.
The Times reports that Wang is expected to announce a similar fund for his family's non-profit foundation, which aims to improve the lives of children in developing countries.
According to the SFi website Read the Entire Article
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