New Zealand billionaire Christopher Chandler funds research that develops ways to reduce bonded labour around the world. The co-founder of “The Freedom Fund” is based in Dubai.

The Freedom Fund

Chandler co-founded “The Freedom Fund” in 2013 with Pierre Omidyar, the founder of eBay, and Australian mining magnate Andrew Forrest. Chandler’s charity called “The Legatum Foundation” finances the research through “The Freedom Fund.”

According to reports, Forrest has invested a significant amount of seed money in another philanthropic fund “The Global Fund to End Slavery” as well. The funds seek to accept donations from governments to part-fund national strategies developed by public-private partnerships. The partnerships are formed in countries where bonded labour is a common practice.

The first schemes of the fund include the assessment of free bonded labour in Thailand and India. The fund seeks to work in the clothing industry in southern India, the Thai seafood industry and the brick kilns in the Indian states of Uttar Pradesh and Bihar, which are highly affected by bonded labours.

Chandler’s Own Company

Chandler founded Legatum Capital in Dubai after he had split off from Richard Chandler, his brother. The company was founded in 2006 so that he could invest on his own. The multibillion-dollar investment company funds companies in developing countries. However, it also invests in capital markets around the world. Legatum had its own building in the Dubai International Finance Centre in April 2012.

Chandler’s Background

The billionaire is from North Island in New Zealand. His parents were beekeepers. He and his brother used to take profits from the sale of their parents' department store. They invested the money in Hong Kong real estate. They later founded “Sovereign Global.” The Monaco company was formed so that they could concentrate on transitioning industries in South America, Eastern Europe and Russia.

Legatum’s Impact

According to its official website, Legatum has spent US$ 80 million in 1,440 life changing projects in 107 countries. It says that the projects made an impact on the lives of thirty million people in 2013. “The End Fund” has been chosen as one of the most effective philanthropic organisations in Africa.

The net worth of the 55-year-old investor was one billion in 2013. He was the 1153rd billionaire in 2012 while he moved down to the 1342nd spot in 2013.

Contact the writer: s.mukhopadhyay@ibtimes.com.au

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