Rich heroes show wealth can have a kindly face

EDITORIAL
Rich heroes show wealth can have a kindly face
By The Nation
Published on June 27, 2011


Thai philanthropists reveal, by example, good causes bring generous returns to business and community

The four wealthy Thais listed as Heroes of Philanthropy by Forbes Asia should set an example for local businesses to return something to society. Boonchai Benjarongkul of Total Access Communication, Tan Passakornnatee of Mai Tan Brand, Bilaibhan Sampatisiri of Nai Lert Park Hotel Co and Thongma Vijitpongpun of Pruksa Real Estate made the list of 48 philanthropists in Asia who are doing good, from helping earthquake victims to sending poor kids to college.

According to Forbes' release, Forbes Asia has tried to include mostly people who gave away their own money and not their companies'. Sometimes philanthropists do both, and sometimes they own such a large share of their company that corporate giving is personal giving.

It's welcoming that these business people have supported the cause that they are passionate about. And we hope to see more of them.

Boonchai has been devoting himself to supporting education and culture since selling control of his company in 2005. He plans to open the Thai Contemporary Art Museum in Bangkok this year to showcase his collection of Thai art.

Bilaibhan's interest is obviously in art and conservation. The president of the Siam Society is helping to lead efforts to conserve the nation's fast-disappearing architectural heritage. She also serves as president of a Thai fund involved in protecting wild elephants, and runs the Lert Sin Foundation, which supports healthcare and education.

Tan pledges half of his net profits to his Tan Pan Foundation, which works to improve education, the environment and tourism. He gave US$67,000 (Bt2.1 million) from his TV appearances for new buildings at Bor Thong KinderEdugarten in Chon Buri. He has also contributed to Japanese earthquake relief and raised more money for a total of $143,000.

And Thongma donated some $660,000 to hospitals, Buddhist organisations and schools in 2010 and 2011. A civil engineer by training, he has also channelled most of his education-related giving to the engineering field.

Growing at the expense of consumers

What these business people have done was part of a pledge to give back. After all, many businesses flourish by successfully coexisting with the community. They can enjoy real business by spending their money for a good cause by providing people with access to opportunities to elevate the wellbeing of the community all together.

Unfortunately, many businesses have expanded at the expense of consumers. For instance, their growth has harmed the surrounding environment by polluting the air, water and soil. Some companies expanded by weakening farmers through their massive bargaining power. Some businesses grew by suppressing fair competition at the expense of consumers.

This trend must be stopped. And these exploiting businesses should review their strategy to see what they should have done.

Local businesses can also take a cue from the US where top billionaires are campaigning to encourage their affluent friends to do good for the community.

Bill Gates and Warren Buffett recently joined forces to prod other billionaires to publicly pledge to give away at least 50 per cent of their wealth during their lifetime or upon their death for good causes as part of a campaign called "The Giving Pledge".

This is because business people have to fulfil their obligation as good citizens in the community.

But it does not take a billionaire to make a social contribution. In fact, everyone, big or small, can get involved in philanthropy work by simply doing whatever they can in their capacity. Everyone can be a social changer.

In fact, the value of the donated amount may not be as powerful as each individual's will to be more selfless and mindful of what they can do or the negative consequences that they can leave to society.

For instance, every citizen should be mindful of the environmental impact that their business may impart, or whether they have looked after their customers by providing them with safe and non-hazardous products, or whether they have taken the best care of people living in their factories' neighbourhoods.

It will be useless for a corporation to donate zillions after its business has damaged the environment or caused casualties to the people from its operation. No charity money will be able to offset the bad consequences that a company has caused because of its carelessness and selfishness.