Gerald L. Chan (Chinese: 陳樂宗; born 1950/1951) is an American billionaire and the brother of fellow billionaire Ronnie Chan.[1] They run the Hang Lung Group.[2]
Gerald Chan | |
|---|---|
| Born | Gerald Lok Chan 1950 or 1951 (age 73–74) Hong Kong |
| Citizenship | United States |
| Alma mater | University of California, Los Angeles (BS, MS) Harvard University (SM, SD) |
| Occupation | Businessman |
| Spouse | Beryl W. Chan |
| Children | 2 sons |
| Parent | T.H. Chan |
| Relatives | Ronnie Chan (brother) |
Early life and education
editGerald Chan is the son of T.H. Chan, a Hong Kong real estate tycoon who founded the Hang Lung Group and was considered one of the major families in Hong Kong during the 20th century.
He received a bachelor of science and a master of science from the University of California, Los Angeles. He then received a master of science in medical radiological physics and a doctor of science in radiation biology from Harvard University.[3]
In the 1970s, he became a US citizen, and has since been cited on various Forbes 400 rankings.[4]
Career
editIn 1987, he co-founded and chairs the Morningside Group, a private equity and venture capital group.[3]
Chan is also a director of Hang Lung Group, his family's real estate firm, Stealth Peptides, Advanced Cell Diagnostics, Matrivax, Vaccine Technologies Inc, and Oxyrane.[5] He is also the Chairman and founding investor of Apellis Pharmaceuticals, Inc. (Nasdaq:$APLS)
As of 2015, he had invested over $100 million into the real estate market in the Harvard Square district of Cambridge, the location of his former alma mater.[4]
In September 2018, Chan opened luxury countryside hotel, Heckfield Place, in Hampshire, England, a renovated 18th-century manor house and farm.[6]
Philanthropy
editWhen his family donated the Harvard School of Public Health $350 million in six annual installments, the largest gift in Harvard's history at the time, the school was renamed the Harvard T.H. Chan School of Public Health in honor for Chan's late father.[4][7]
In September 2021, the Chans' Morningside Foundation donated $175 million to the UMass Medical School in Worcester, MA, and it changed its name to UMass Chan Medical School.[8]
In March 2022, the Morningside Foundation donated $100 million to found the MIT Morningside Academy for Design, intended to "encourage design work at MIT to grow and cross disciplines among engineering, science, management, computing, architecture, urban planning, and the arts."[9]
Personal life
editChan is married to Beryl, and they have two sons, Ashley being the eldest.[4] Ashley resides in LA and is known for his impact in the restaurant and gastronome industry.
References
edit- ^ "Ronnie & Gerald Chan". forbes.com. Archived from the original on September 19, 2018. Retrieved September 19, 2018.
- ^ "Profile of Directors" (PDF). www.hanglung.com. Archived (PDF) from the original on September 30, 2022. Retrieved April 24, 2022.
- ^ a b "About - Dr. Gerald Chan". www.geraldchan.net. Archived from the original on September 7, 2018. Retrieved September 19, 2018.
- ^ a b c d Neil Swidey (May 3, 2015). "Gerald Chan, Boston's invisible billionaire - The Boston Globe". bostonglobe.com. Archived from the original on September 19, 2018. Retrieved September 19, 2018.
- ^ "Gerald L. Chan - Harvard China Fund". hcf.fas.harvard.edu. Archived from the original on October 8, 2021. Retrieved September 19, 2018.
- ^ "Heckfield Place: inside the UK's most delayed hotel". Financial Times. April 26, 2018. Archived from the original on June 13, 2022. Retrieved April 7, 2019.
- ^ "Announcement of major search for Senior Director, University Development Office International – Asia Principal Gifts, Harvard University Cambridge, MA" (PDF). Archived (PDF) from the original on October 25, 2018. Retrieved October 25, 2018.
- ^ "UMass Medical School Changes Name To UMass Chan Medical School After $175 Million Donation". CBS Boston. September 7, 2021. Archived from the original on November 25, 2021. Retrieved November 25, 2021.
- ^ Dizikes, Peter (March 14, 2022). "MIT Morningside Academy for Design created as a new hub for cross-disciplinary education, research, and innovation". MIT News | Massachusetts Institute of Technology. Archived from the original on September 25, 2022. Retrieved March 14, 2022.