Joseph Tsai Rumors
The Nets and Barclays Center announced Friday that the Joe and Clara Wu Tsai foundation if funding the inclusion of a Jean-Michel Basquiat curriculum in New York’s public schools. The program, underway in Brooklyn since April will now expand throughout the five boroughs. In addition, the team and arena will host an art show featuring 150 Basquiat-inspired pieces already created by middle and high school students in Brooklyn.
Alibaba co-founder Joe Tsai is the mystery buyer behind a $157 million apartment deal in Manhattan’s most prestigious condo tower, according to people familiar with the deal. Tsai, who also owns the Brooklyn Nets NBA team, purchased two full-floor condo apartments at 220 Central Park South in two transactions totaling $157.5 million, say people close to the transaction. The purchase marks what’s believed to be the third most expensive home ever sold in the U.S. The priciest home ever sold in America is in the same building — Ken Griffin’s purchase of four floors (51 through 53) for $238 million in 2019.
Brooklyn Nets owners Joe Tsai and Clara Wu Tsai are taking the next steps to distribute money from a $50 million commitment to help minority communities. The sports owners created a $2.5 million loan program that targets Black-owned businesses impacted by Covid-19. The money derives from the Tsai foundation’s Social Justice Fund, which was established last year, and aims to combat economic inequality in Black communities. The new loans are part of the “EXCELerate” program and catered to owners with credit scores 620 or below. But though applicants will not be judged on the scores, business owners need to be “character-based” eligible. Hence, they’ll need to have good references to secure their loan.