The Faces Of China's New Philanthropy

Five months before Chinese e-commerce behemoth Alibaba'swent public in September 2014, cofounders Jack Ma and Joseph Tsai created charitable trusts and seeded them with a combined 50 million in share options. Today those trusts are worth nearly $3.5 billion. It's one sign of a new age of large-scale philanthropy in China. Three decades after economic reforms paved the way for 400 billionaires to emerge ... extremely wealthy Chinese have started giving their money away in large sums ... according