Asian-American business leaders pledge $10 million to fight hate

Asian-American business leaders pledge $10 million to fight hate

Nearly a thousand Asian-American business leaders and their allies have pledged $10 million in support of efforts to address violence against Asian Americans and Pacific Islanders (AAPI).

In an open letter published in the Wall Street Journal, the group, Stand With Asian Americans, called for an end to hate crimes against the Asian-American community, the incidence of which has increased 150 percent over the past year, with a disproportionate share of such crimes targeting Asian-American women. "We, the Asian American business leaders of America, are tired, angry, and afraid — and not for the first time," the letter states. "Many of us have created jobs for hundreds of thousands of Americans. We choose to make America our home and we strive every day to make America better — just like you."

To "help make change happen," the coalition will work with the Asian Pacific Fund to award $10 million over the next year in support of organizations serving AAPI communities and working to advance racial justice. Recipients of grants include StopAAPIHate, AAPI Women Lead, NAPAWF, Asian Americans Advancing Justice, and the Association for Asian American Studies. The group also pledged to support  AAPI employees by creating and funding AAPI employee resource groups and taking steps to ensure that their AAPI employees are represented in larger policy discussions by reporting their diversity data.

Signatories to the letter include BlackBerry executive chair and CEO John Chen, Runway CEO Siqi Chen, YouTube co-founder Steve Chen, DoorDash co-founders Andy Fang and Tony Xu, Peloton Interactive co-founders Yony Feng and Hisao Kushi, Boston Consulting Group managing director and senior partner Jeanne Kwong Bickford, Walt Disney Company senior vice president Nancy Lee, Bill & Melinda Gates Foundation Global Health Program chief financial officer Tracia Luh, Yelp chief product officer Vivek Patel, Alphabet CEO Sundar Pichai, Yahoo! co-founder and AME Cloud Ventures founding partner Jerry Yang, and Zoom founder and CEO Eric Yuan.

"It is critical that we also acknowledge that the violence we are experiencing has been the daily reality for our Black, Latinx, Indigenous, and LGBTQ communities," the letter notes. "The change that is needed requires a national awakening and a dialogue that involves leaders from every community if we are to undo the generations of systemic bias and racism."

(Photo credit: GettyImages)

"Enough. An Open Letter from Asian American Business Leaders." Stand With Asian Americans open letter 04/01/2021.