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
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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).
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