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| MBK Partners co-founder and CEO Michael Byungju Kim / Courtesy of MBK Partners |
MBK Partners co-founder and CEO Michael Byungju Kim has made the list of Forbes top philanthropists in Asia for two consecutive years.
Forbes announced earlier this week that a total of 15 business people have made the list of "Asia's 2022 Heroes of Philanthropy", with nine being chosen for the first time. Kim was one of six honorees who was listed again, and one of three who were selected for two consecutive years. Kim is also the only Korean who made the list this year.
The U.S.-headquartered financial magazine evaluated the 59-year-old private equity billionaire's contributions in the arts as well as his long-held vision for education. Kim pledged a $10-million donation in September to the Metropolitan Museum of Art in New York. The donation will be used to renovate the museum's modern and contemporary art exhibition halls, where a gallery will be named after Kim and his wife: the Michael B. Kim and Kyung Ah Park Gallery.
Kim referred to his charitable act as "impact giving," focusing on the arts and education.
"Art works offer beauty to the world, and education has a force to change the world," he said.
The founder of the private equity firm, which is one of the biggest buyout funds in Asia, is an avid art collector and novelist. He has served as a member of the board of Carnegie Hall as well as a Met board trustee since 2017. Kim has also awarded generous education grants to over 175 students since 2007 through the MBK Scholarship Foundation.
In August 2021, Kim donated 30 billion won ($25.5 million) to the Seoul Metropolitan Government to build a new public library in the western part of the capital. The library is set to be completed by early 2027.
Back in 2010, the billionaire made a donation to build Ki Yong Kim Hall at his alma mater, Haverford College. He is also making contributions to Harvard Business School, where he earned his MBA degree.
