Clara Wu Tsai

Last updated

Clara Wu Tsai
Born
Clara Ming-Hua Wu

1966 (age 57–58)
Lawrence, Kansas, U.S.
Education Stanford University (BA, MA)
Harvard University (MBA)
OccupationBusinesswoman
OrganizationBSE Global
TitleVice Chair
Spouse
​
(m. 1996)​

Clara Wu Tsai is an American businesswoman, philanthropist, and social justice activist. She is a co-owner of the Brooklyn Nets, the New York Liberty, the San Diego Seals, and Barclays Center. [1] [2] She is the founder of the Joe and Clara Tsai Foundation, a philanthropic organization; the Social Justice Fund, which focuses on economic mobility and racial justice; the Wu Tsai Human Performance Alliance, which funds health and scientific research; and is a founding partner of REFORM Alliance, a nonprofit focused on prison and parole reform in the United States. [3]

Contents

Early life and education

Wu Tsai was born in Lawrence, Kansas to Dr. De Min Wu and Chin-Sha Wu, who were immigrants from Taiwan. [4] [5] [6] [7] Her father was a professor of economics at the University of Kansas and her grandfather, Wu San-lien, was the first elected mayor of Taipei City. [4] [6] [8] Wu Tsai attended Stanford University, receiving both a bachelor of arts degree and a master's degree in international relations in 1988. [4] She later received an MBA from Harvard University in 1993. [4] [9]

Career

Wu Tsai was a senior manager and vice president in the business analysis unit of the finance group at American Express. [4] [10] Wu Tsai also worked for Taobao Hong Kong. [10] [11]

Wu Tsai was a founding partner of REFORM Alliance and sits on the board of directors. [12] [13]

In 2017 Joseph Tsai was awarded an expandion license from the National Lacrosse League for a lacrosse team in San Diego, which they named the San Diego Seals. Wu Tsai is a co-owner of the team. [14]

In January 2019, Wu Tsai and her husband, Joseph Tsai, purchased the Brooklyn Nets and the Nets' arena Barclays Center from Mikhail Prokhorov. [15] [16] In 2019, the New York Liberty were sold to the Tsais and moved the team to the Barclays Center. The Tsais gave the team amenities facilities "equal to their male counterparts," according to the New York Times, and recruited star players like Sabrina Ionescu, Jonquel Jones, and Breanna Stewart. [17]

Wu Tsai is the executive producer of the films Into the Okavango , a 2018 National Geographic documentary about conservation; [18] Blue Bayou, a 2021 drama; [19] and Unfinished Business, a 2022 documentary about the WNBA. [20]

Boards

Wu Tsai serves on the board of trustees for Stanford University, Lincoln Center for the Performing Arts, and New York Presbyterian Hospital. [21] She serves on the advisory board for the Institute of Protein Design at the University of Washington. [22] She is also on the REFORM Alliance board. [23]

Philanthropy

Wu Tsai and her husband started a foundation, the Joe and Clara Tsai Foundation. Wu Tsai leads and manages the foundation's work in supporting scientific research, economic mobility, social justice, and creativity in the arts. [10] [11] The Stanford University neuroscience institute is named after Wu Tsai. [11]

In 2018, Stanford University announced a gift from the Tsais, in support of the Stanford Neurosciences Institute, as part of a $250 million campaign. [24]

In August 2020, in the wake of the George Floyd protests, Wu Tsai and her husband launched the Social Justice Fund in Brooklyn, NY with a $50 million commitment. [1] [25] The fund invests in programs that address the root causes of the borough's racial disparities in education, health, and wealth. Initiatives included BK-XL, a tech accelerator focused on founders in the black, indigenous, and other people of color (BIPOC) communities; the EXCELerate Loan Fund, which provides low-interest loans to BIPOC business owners; and Basquiat in Brooklyn Schools, an educational arts program about Brooklyn-born artist Jean-Michel Basquiat in partnership with the New York City Department of Education. [26] [27]

Wu Tsai and her husband donated to Yale University to create the Wu Tsai Institute, which is set to open in the fall of 2022. [10] The Institute will have three centers: the Center for Neurodevelopment and Plasticity, the Center for Neurocognition and Behavior, and the Center for Neurocomputation and Machine Intelligence. [28] [5] [10]

In March 2021, the Joe and Clara Tsai Foundation also donated to the University of California San Diego’s 21st Century China Center to expand its data-based research, policy engagement, and education on issues related to U.S.-China relations. [2]

In July 2021, the Tsais pledged $220 million to create the Wu Tsai Human Performance Alliance, a consortium of experts and academics from Stanford University, the University of Kansas, the University of Oregon, the University of California, San Diego, Boston Children's Hospital, and the Salk Institute for Biological Studies. [29]

In July 2021, the Joe and Clara Tsai Foundation funded a Jean-Michel Basquiat educational arts program developed in partnership between the Brooklyn Nets, the New York City Department of Education and the Fund for Public Schools, with a exhibit hosted in August 2021. [30]

In 2022, the Tsais donated $50 million to the renovation of Lincoln Center’s David Geffen Hall, home of the New York Philharmonic. The hall reopened in October 2022, with the theater where the Philharmonic performs renamed as the Wu Tsai Theater. As part of the gift, Lincoln Center and the Philharmonic programmed an annual “Wu Tsai Series” featuring performances meant to reach new audiences and celebrate diverse artists. [31]

Awards

In February 2021, Wu Tsai was named "Champion of Justice" by John Jay College for her role in creating and forming REFORM Alliance. [5] The award also recognized her $50 million donation to create the Social Justice Fund for Brooklyn's Black, Indigenous, and People of Color. [5] In 2022, Wu Tsai and her husband received the Jacqueline Kennedy Onassis Medal from the Municipal Art Society. [32] In May 2023, Wu Tsai was honored by the Gordan Parks Foundation. [33]

In February 2024, Wu Tsai was presented with the Dreamer Award during the first-quarter break of a game between the Nets and the Boston Celtics. The award, which honors those who "embody" Martin Luther King Jr.'s "vision of service," was given by King Jr.'s family members Martin Luther King III and Andrea Waters King, via their Realizing the Dream organization. [34]

Personal life

Wu has one brother, Lawrence Wu (NERA).

Wu married businessman Joseph Tsai at Park Avenue Christian Church on October 4, 1996. [1] [4] The couple have three children: daughter Alexandra, sons Dash and Jacob. [11]

She has a residence in La Jolla, California. [2] [11]

Related Research Articles

<span class="mw-page-title-main">Jean-Michel Basquiat</span> American artist (1960–1988)

Jean-Michel Basquiat was an American artist who rose to success during the 1980s as part of the Neo-expressionism movement.

<span class="mw-page-title-main">Brooklyn Nets</span> National Basketball Association team in New York City

The Brooklyn Nets are an American professional basketball team based in the New York City borough of Brooklyn. The Nets compete in the National Basketball Association (NBA) as a member of the Atlantic Division of the Eastern Conference. The team plays its home games at Barclays Center. They are one of two NBA teams located in New York City; the other is the New York Knicks. The club was established in 1967 as a charter franchise of the NBA's rival league, the American Basketball Association (ABA). They played in New Jersey as the New Jersey Americans during their first season, before relocating to Long Island, New York, in 1968 and changing their name to the New York Nets. During this time, the Nets won two ABA championships. In 1976, the ABA merged with the NBA, and the Nets were absorbed into the NBA along with three other ABA teams, all of whom remain in the league to this day.

<span class="mw-page-title-main">Jerry Yang</span> Computer programmer and co-founder of Yahoo!

Jerry Chih-Yuan Yang is an American billionaire computer programmer, internet entrepreneur, and venture capitalist. He is the co-founder and former CEO of Yahoo! Inc. and founding partner of AME Cloud Ventures.

<span class="mw-page-title-main">New York Liberty</span> Basketball team in Brooklyn, New York

The New York Liberty are an American professional basketball team based in the New York City borough of Brooklyn. The Liberty compete in the Women's National Basketball Association (WNBA) as part of the league's Eastern Conference. The team was founded in 1997 and is one of the eight original franchises of the league. The team is owned by Joe Tsai and Clara Wu Tsai, the majority owners of the Brooklyn Nets. The team's home games are played at Barclays Center.

<span class="mw-page-title-main">Santa Clara University</span> Jesuit university in Santa Clara, California

Santa Clara University is a private Jesuit university in Santa Clara, California. Established in 1851, Santa Clara University is the oldest operating institution of higher learning in California. The university's campus surrounds the historic Mission Santa Clara de Asís which traces its founding to 1777. The campus mirrors the Mission's architectural style and is one of the finest groupings of Mission Revival architecture and other Spanish Colonial Revival styles. The university is classified as a "Doctoral/Professional" university.

<span class="mw-page-title-main">Alliance for Justice</span> Progressive judicial advocacy group

The Alliance for Justice (AFJ) is a progressive judicial advocacy group in the United States. Founded in 1979 by former president Nan Aron, AFJ monitors federal judicial appointments. AFJ represents a coalition of 100 politically liberal groups that have an interest in the federal judiciary. The Alliance for Justice presents a modern liberal viewpoint on legal issues.

<span class="mw-page-title-main">Barclays Center</span> Multi-purpose indoor arena in New York City, U.S.

Barclays Center is a multi-purpose indoor arena in the New York City borough of Brooklyn. The arena is home to the Brooklyn Nets of the National Basketball Association and the New York Liberty of the Women's National Basketball Association. The arena also hosts concerts, conventions and other sporting and entertainment events.

<span class="mw-page-title-main">Pacific Park, Brooklyn</span> Development in Brooklyn, New York

Pacific Park is a mixed-use commercial and residential development project by Forest City Ratner that will consist of 17 high-rise buildings, under construction in Prospect Heights, adjacent to Downtown Brooklyn, Park Slope, and Fort Greene in Brooklyn, New York City. The project overlaps part of the Atlantic Terminal Urban Renewal Area, but also extends toward the adjacent brownstone neighborhood. Of the 22-acre (8.9 ha) project, 8.4 acres (3.4 ha) is located over a Long Island Rail Road train yard. A major component of the project is the Barclays Center sports arena, which opened on September 21, 2012. Formerly named Atlantic Yards, the project was renamed by the developer in August 2014 as part of a rebranding.

<span class="mw-page-title-main">Brennan Center for Justice</span> Liberal law and public policy institute at New York University School of Law

The Brennan Center for Justice at New York University School of Law is a liberal or progressive nonprofit law and public policy institute. The organization is named after Supreme Court Justice William J. Brennan Jr. The Brennan Center advocates for public policy positions including raising the minimum wage, opposing voter ID laws, and calling for public funding of elections. The organization opposed the U.S. Supreme Court's ruling in Citizens United v. FEC, which held that the First Amendment prohibits the government from restricting independent political expenditures by nonprofits.

Gerald Tsai Jr. was a billionaire investor and philanthropist who helped build Fidelity Investments into a mutual fund powerhouse.

The Koret Foundation is a private foundation based in San Francisco, California. Its mission is to strengthen the Bay Area and support the Jewish community in the U.S. and Israel through grantmaking to organizations involved with education, arts and culture, the Jewish community, and the Bay Area community. The foundation takes an approach of testing new ideas and bringing people and organizations together to help solve societal and systemic problems of common concern.

Iris Cantor is an American philanthropist based in New York City and Los Angeles, with a primary interest in medicine and the arts. Cited as among the 50 top contributors in the United States, as head of the Iris and B. Gerald Cantor Foundation, her foundation has donated several hundred million dollars to museums, universities and hospitals since 1978.

Arnold VenturesLLC is focused on evidence-based giving in a wide range of categories including: criminal justice, education, health care, and public finance. The organization was founded by billionaires John D. Arnold and Laura Arnold in 2010.

Joseph Chung-Hsin Tsai (Chinese: 蔡崇信; Pe̍h-ōe-jī: Chhòa Chông-sìn; born January 1964) is a Taiwanese-Canadian billionaire business magnate, lawyer, and philanthropist. He is a cofounder and chairman of the Chinese multinational technology company Alibaba Group and owns the Brooklyn Nets of the American National Basketball Association (NBA), the New York Liberty of the Women’s National Basketball Association (WNBA), the San Diego Seals of the National Lacrosse League, and has interests in several other professional sports franchises. Tsai's net worth is estimated to be US$8.1 billion.

The 2019–20 Brooklyn Nets season was the 44th season of the franchise in the National Basketball Association (NBA), 53rd season overall, and its eighth season playing in the New York City borough of Brooklyn. Six players from the 2018–19 team, including D'Angelo Russell, became free agents.

<i>Dos Cabezas</i> 1982 painting by Jean-Michel Basquiat

Dos Cabezas is a painting created by American artist Jean-Michel Basquiat in 1982. The double portrait resulted from Basquiat's first formal meeting with his idol, American pop artist Andy Warhol.

Reform Alliance is a non-profit organization dedicated to probation, parole, and sentencing reform in the United States through legislation and lobbying.

John Abbamondi is the former chief executive officer of the Brooklyn Nets, Barclays Center, the Long Island Nets, and the Nets Gaming Crew of the NBA 2K League. Abbamondi also was alternate governor for the Brooklyn Nets.

The Asian American Foundation (TAAF) is an American foundation founded in 2021 by a group of prominent Asian Americans and Pacific Islanders, aiming to support an array of Asian American and Pacific Islander causes and create a national infrastructure for a community that has faced an increasing number of racial attacks. Launched with $250 million, TAAF is described by organizers as the largest-ever philanthropic effort to support the AAPI community in history. The founders include Joe Tsai, Joseph Bae, Li Lu, Peng Zhao, Sheila Lirio Marcelo, Jerry Yang, Angela Chao and Jonathan Greenblatt. Its Founding Advisory Council members include Daniel Dae Kim, Lisa Ling, Condoleezza Rice, Jeremy Lin and more. The organization is chaired by Li Lu, and Norman Chen is the Chief Executive Officer (CEO).

Dmitry Valerievich Razumov is a Russian businessman, manager and philanthropist, CEO of Prokhorov's Onexim Group, former chairman of the Brooklyn Nets and Barclays Center board of directors.

References

  1. 1 2 3 Lucking, Liz (August 26, 2020). "Joe Tsai and Clara Wu Tsai Donate $50 Million to Social Justice and Economic Equality for BIPOC". Penta. Retrieved April 15, 2021.
  2. 1 2 3 Clark, Christine (March 4, 2021). "Major Gift Supports UC San Diego's 21st Century China Center". UC San Diego News Center. Retrieved April 15, 2021.
  3. ↑ "Joe and Clara Wu Tsai announce first awards from Brooklyn Social Justice Fund". Net Daily. December 17, 2020. Retrieved April 15, 2021.
  4. 1 2 3 4 5 6 "Clara Wu And Joseph Tsai". New York Times. October 6, 1996. Retrieved April 15, 2021.
  5. 1 2 3 4 "Clara Wu Tsai honored as 'Champion of Justice' for her criminal and social justice efforts". Net Daily. March 1, 2021. Retrieved April 15, 2021.
  6. 1 2 "De-Min and Chin-Sha Wu". Economics. May 7, 2020. Retrieved July 8, 2021.
  7. ↑ Decombes, Carla (February 23, 2023). "Tavares Strachan ART '06 and Clara Wu Tsai discuss public art and social impact at YUAG panel". Yale Daily News. Retrieved February 22, 2024.
  8. ↑ Ellwood, Mark (December 1, 2022). "Want to Help Others? Philanthropy Experts Share Their Most Personal Advice". Bloomberg.com. Retrieved February 22, 2024.
  9. ↑ "Clara Wu Tsai elected to Stanford Board of Trustees". November 16, 2021.
  10. 1 2 3 4 5 Peart, Karen (February 16, 2021). "At Yale, new neuroscience institute to unravel the mysteries of cognition". Yale. Retrieved April 15, 2021.
  11. 1 2 3 4 5 DaSilva, Matt (July 31, 2020). "COLLEGE LACROSSE PLAYERS JOIN EFFORT TO ELIMINATE FOOD WASTE DURING PANDEMIC". US Lacrosse Magazine. Retrieved April 15, 2021.
  12. ↑ "REFORM Alliance Announces Continued Momentum With Legislative Win in Virginia". Inside NOVA. April 12, 2021. Retrieved April 15, 2021.
  13. ↑ "Board of Directors". REFORM Alliance. Retrieved April 15, 2021.
  14. ↑ Bell, Stephanie (July 21, 2021). "Nets' Tsais commit $220M to study of athletes". ESPN.com. Retrieved February 22, 2024.
  15. ↑ "The Queens come to Brooklyn ... Liberty ramps up marketing ahead of move". Nets Daily. April 9, 2021. Retrieved April 15, 2021.
  16. ↑ Young, Jabari (June 24, 2021). "Brooklyn Nets owners will use character, not credit scores, for $2.5 million loan program that helps Black businesses". CNBC. Retrieved February 22, 2024.
  17. ↑ Streeter, Kurt (May 17, 2023). "The Liberty Took a Few Jets and a Boat to Become a Superteam". The New York Times. ISSN   0362-4331 . Retrieved March 11, 2024.
  18. ↑ "Into the Okavango | 2018 Tribeca Festival". Tribeca. Retrieved March 11, 2024.
  19. ↑ Lodge, Guy (July 14, 2021). "'Blue Bayou' Review: Justin Chon's Blunt-Force Melodrama Takes on the Injustices of America's Immigration System". Variety. Retrieved March 11, 2024.
  20. ↑ Vincentelli, Elisabeth (May 11, 2023). "'Unfinished Business' Review: Skimming the Surface of Women's Basketball". The New York Times. ISSN   0362-4331 . Retrieved March 11, 2024.
  21. ↑ Dunn, Sam (June 8, 2023). "Clara Wu Tsai's Game Plan". Boardroom. Retrieved March 11, 2024.
  22. ↑ "Founder, Joe and Clara Tsai Foundation; Owner, Brooklyn Nets and New York Liberty | Aspen Ideas". Aspen Ideas Festival. Retrieved March 11, 2024.
  23. ↑ Lockett, Dee (January 23, 2019). "Jay-Z and Meek Mill Launch Prison Reform Alliance, Pledge $50 Million". Vulture. Retrieved March 11, 2024.
  24. ↑ "Stanford Neurosciences Institute Receives Naming Gift". Philanthropy News Digest. Retrieved March 11, 2024.
  25. ↑ "Clara Wu and Joe Tsai commit $50 million to social justice, equality". Philanthropy News Digest. August 26, 2020.
  26. ↑ Barron, James (December 6, 2022). "Why the Owners of the Nets Are Funding Tech Start-ups". The New York Times. ISSN   0362-4331 . Retrieved March 12, 2024.
  27. ↑ Gamboa, Glenn (November 7, 2022). "Brooklyn Nets owners will invest up to $6 million in BIPOC startups in 2023 with launch of huge new business accelerator". Fortune. Retrieved March 12, 2024.
  28. ↑ Walsh, Dylan (May 2021). "Interdisciplinary hub for researching the brain". Yale Alumni Magazine. Retrieved April 15, 2021.
  29. ↑ Bell, Stephanie (July 21, 2021). "Nets' Tsais commit $220M to study of athletes". ESPN.com. Retrieved March 11, 2024.
  30. ↑ "Barclays Center To Host Student Art Show Featuring 150 Works Inspired By Jean-Michel Basquiat Aug. 7–9". Brooklyn Nets. Retrieved July 28, 2021.
  31. ↑ Hernández, Javier C. (August 3, 2022). "Theater at Geffen Hall to Be Named for Two Key Donors". The New York Times. ISSN   0362-4331 . Retrieved March 11, 2024.
  32. ↑ Feitelberg, Rosemary (November 10, 2022). "Alibaba's Joe Tsai, Musician Jon Batiste and Others Honored With Jacqueline Kennedy Onassis Medals". WWD. Retrieved March 12, 2024.
  33. ↑ "This Year, the Gordon Parks Foundation Gala Celebrated Life and Legacy". Vogue. May 24, 2023. Retrieved March 12, 2024.
  34. ↑ Lewis, Brian (February 14, 2024). "Cam Johnson set to return but where he will fit in Nets' lineup in question". NY Post . Retrieved March 12, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.