Billionaire Tan accepts ice bucket challenge

Posted at 08/26/14 9:56 AM

MANILA, Philippines - Tycoon Andrew Tan, the Philippines' third richest man, accepted the ice bucket challenge but said he will also make a donation to the ALS Association.

In a video posted on his company Megaworld Corp.'s YouTube page, Tan called Lou Gehrig's disease as a "threat to humanity."

"I support the important cause of the ALS Association to promote awareness about Lou Gehrig's disease. That is a threat to humanity. That's why I'm here to take this ice bucket challenge. At the same time, I will make a donation to the movement," he said.

Tan, whose net worth is estimated at $4.6 billion, nominated three people to do the ice bucket challenge - Asian Institute of Management president Steven DeKrey, Accenture Philippines country managing director Lito Tayag and McDonald's Philippines president and CEO Kenneth Yang.

He said the three men have to do the ice bucket challenge within 24 hours or they will have to make a donation to the ALS Association.

The ALS (Amyotrophic lateral sclerosis) Association is behind the ice bucket challenge. The challenge has been taken up by celebrities, political and business figures all over the world, raising over $70 million since July 29.

ALS is a progressive neurodegenerative disease that attacks nerve cells and pathways in the brain and spinal cord, which eventually leads to paralysis.