Donations from Top Philanthropists Double, but Most Money Goes Abroad

(Beijing) – Donations from the country's top 100 philanthropists more than doubled last year compared to the figure for 2013, and four-fifths of the money went to overseas groups, a report by researchers at Beijing Normal University says.

Alibaba Group Holding Ltd. chairman Jack Ma donated 35 million share options in a deal that would net a foundation 16.9 billion yuan, according to the report published on January 6 by the university's China Philanthropy Research Institute. Alibaba vice chairman Joseph Tsai was No. 2 on the list, giving the same foundation 15 million shares, or 7.42 billion yuan.