Jet Li's One Foundation Brings Philanthrocapitalism to China

The Economist’s Summer 2009 Intelligent Life features One Yuan, One Vision, the story of Chinese film star Jet Li’s wading into the big pond of charitable giving, after the 2004 Asian tsunami.

Insisting that his One Foundation is based on simple values of humanity looking out for each other, as a stranger saved his daughter in 2004, Jet Li is “deploying his celebrity to change his country’s attitude.”

Jet Li brings philanthrocapitalism to ChinaLi is described as a philanthrocapitalist, a man who studied philanthropy from the best in the giving business, including the Bill and Melinda Gates foundation. While the buzz may focus on the philanthrocapitalists — the mega givers in our world increasingly divided into the haves and the have nots — Jet Li makes the argument to Chinese folks that everyone can give a little for the common good.

In addition to collecting money the One Foundation, seeks to become the main marketplace where many NGOs operating in China can make their pitch for new money. Li says that although there are millions of NGOs in China, nobody knows who they can trust, in a country rife with corruption.

Jet Li’s One Foundation brings philanthrocapitalism to ChinaOne Foundation seeks to maintain the highest standards of integrity, locating its offices in Singapore, where corruption is minimal. One Foundation is audited quarterly by Deloitte. As a result American companies like Disney and Microsoft have become One partners, out of corporate philanthropic convictions and the strong urging of the Chinese government.

Anne here, trying to get my feet really wet on this subject of philanthrocapitalism. A key book is Philanthrocapitalism: How the Rich Can Save the World. For more info, visit Economist writer Matthew Bishop and consultant Michael Green’s website: Philanthrocapitalism.