Refugees from Africa and the Middle East have been crossing the Mediterranean by boat to escape war and oppression in their home countries, with many risking death in the process, as boats sink in rough waters.
According to the International Organization for Migration, around 350,000 refugees have crossed the Mediterranean and landed in Europe this year, and around 2,640 people have died during the journey.
In response, several billionaires have stepped in to help the refugees and ease the situation.
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Naguib Sawiris, chairman of Orascom Telecom Media and Technology. Bloomberg |
Naguib Sawiris is an Egyptian member of the superrich and chairman of Orascom Telecom Media and Technology, a major telecom company that conducts business across the Middle East, Africa and South Asia.
Sawiris recently garnered international attention as he offered to purchase an uninhabited island from either Greece or Italy to host Syrian refugees, saying that they would be treated as human beings there.
Sawiris, who has assets of $3.1 billion, added that he is willing to pay up to $100 million to purchase an island, where he plans to provide basic infrastructure such as houses, schools and hospitals.
However, Agence France-Presse and other international media organizations commented that it may be difficult for him to convince the Greek and Italian governments to sell one of their islands to him.
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Hamdi Ulukaya, founder and CEO of Chobani. Bloomberg |
Hamdi Ulukaya, founder and CEO of Chobani, set up a charity fund earlier in the year called “Tent” to help refugees along the Turkish border and vowed to donate most of his assets of $1.3 billion in the effort.
Ulukaya’s motivation is connected to his background; although he immigrated to the United States, he is Turkish-born and ethnically Kurdish.
Ulukaya went to the United States in 1997 at the age of 25, and in 2006 founded the Greek yogurt company Chobani, meaning “shepherd” in Turkish. Chobani has grown into one of America’s largest yogurt manufacturers in the market, with $1 billion in annual profits.
Ulukaya has said in media interviews that he decided to step into helping refugees as the problem had become a huge issue, and he felt the need to save lives and treat them humanely.
His home country Turkey currently has an ongoing refugee situation as thousands of Syrian refugees have fled their homes and are based in refugee camps along the border of Turkey, Jordan, Lebanon and Iraqi Kurdistan.
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Al-waleed bin Talal, Saudi prince, founder and CEO of Kingdom Holding Company. Bloomberg |
Another superrich member helping out refugees is Saudi prince al-Waleed bin Talal.
He donated $27 million in 2002 during a Saudi charity broadcast program to help Palestinian refugees, and has also recently donated to help Syrian refugees. Media reports estimate the prince had donated around $3.5 billion to help refugees around the world so far.
In July, he pledged to donate the entirety of his assets (around $32 billion) to charity, which will be used toward refugee relief, as well as for women and youth in need through his Alwaleed Philanthropies.
It is speculated that al-Waleed is at the forefront of helping others because he had not previously enjoyed a life of riches, and so better empathized with their situation. Although a nephew of the former Saudi king, the late Abdullah of Saudi Arabia, he lived with his Lebanese mother in Lebanon after his parents divorced when he was 7 years old.
After graduating from university, he borrowed $30,000 from a bank to start his own business and eventually founded the Kingdom Holding Company, which invested in various global corporations, such as Apple and Walt Disney.
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Juha Sipila, prime minister of Finland. Bloomberg |
Finnish Prime Minister Juha Sipila has also turned heads, as he announced plans to offer his second home to Syrian refugees.
Sipila told national media that his family had a spare home in Kempele in central Finland that they had barely used since moving to Helsinki.
“We should all take a look in the mirror and ask how we can help,” he said during an interview with a Finnish broadcaster, before adding that people should make refugees feel welcome and not engage in hate speech.
Sipila, who became a millionaire from his tech businesses, became Finland’s prime minister in April, as his Center Party received 49 seats out of 200 in parliament to constitute a plurality of seats.
By The Korea Herald Superrich Team (
sangyj@heraldcorp.com)
Hong Seung-wan, Cheon Ye-seon, Bae Ji-sook, Yoon Hyun-jong, Min Sang-seek, Kim Hyun-il, Sang Youn-joo
