Hedge fund founder Danny Yong understands how getting one chance can change a life.
After all, Mr Yong, one of Singapore’s richest men, was once the recipient of a life-changing opportunity.
In 1997, after graduating with first class honours studying business at Nanyang Technological University, he applied to American investment bank JP Morgan. His application, along with 899 others, ended up on the reject pile. But a bored trader at the bank chanced upon the application and recommended him. Mr Yong eventually snagged the position, out of 1,000 applicants.
In 2008, he co-founded Dymon Asia, which went on to become a leading alternative investment management firm. In 2017, Mr Yong was placed 47th in Forbes’ list of the 50 richest people in Singapore.
Now the 47-year-old gives to society to show gratitude for his good fortune. “There are gaps in every society. Where we can, we should play a part to fix gaps in Singapore.
In memory of his father, he set up the Yong Hon Kong Foundation in 2011, which has donated millions to charitable causes.
He also co-founded The Majurity Trust, a charity that provides philanthropic advice and grants, and tackles social issues.
The trust supports initiatives including Ray Of Hope, a fund-raising platform for donors to help Singaporeans who have fallen through the cracks. Each year, the charity raises funds for 150 to 200 families.
He said: “We want to identify the gaps in society by using research and data, then find or start charities that address these gaps, and get partners to help fund these charities.
“When we see gaps in society or injustice, let’s not assume someone else will fix it. Every small act of kindness can make a difference.”
Watch his video story here:
Read more here.
Source: The Straits Times, 6 Dec 2019