Next-gen wealth transition? This philanthropist has a larger vision
Alice Hung plans to give most of her wealth away through the Paeonia Foundation, a pillar of her Singapore family office, in support of talent and research in science and technology
Add BT as a preferred source
MOST ultra-wealthy asset owners fret about how to hand over the reins of business and wealth to future generations. Self-made entrepreneur Alice Y Hung is having none of that.
Hung, who founded a leading testing equipment and laboratory instrumentation business, is determined to give most of her wealth away. By giving to education and the academe, among others, she aims to build a legacy far larger than her immediate family.
She recently gifted S$5 million to the Nanyang Technological University (NTU) to establish a professorship in science and technology. A portion of the gift will go towards academic collaboration with her alma mater, the University of Pennsylvania (UPenn).
TRENDING NOW
Why China is tightening controls on overseas stock trading
Xi Jinping has just rewritten the rules of US-China rivalry
‘Even a CEO’s job can be replaced by AI’: DBS CEO Tan Su Shan bets big on agentic AI
‘Whole deck of cards just toppled’: FoodXervices’ Nichol Ng on how a 92-year-old family business unravelled – and what’s next
