A new foundation formed by Asian-American business leaders announced on Monday that they are to donate 250 million U.S. dollars to help solve problems related to anti-Asian hate crimes.
The Asian American Foundation will give 125 million dollars to Asian-American and Pacific Islander communities over the next five years for anti-hate education programs and research.
This is the largest philanthropic commitment made by Asian Americans for the AAPI community.
The foundation is chaired by Li Lu, founder of Himalaya Capital, and includes others such as the co-founders of Alibaba and Yahoo.
Other companies such as Coca-Cola, Walmart and Amazon have also contributed 125 million dollars to the foundation.